Deal to sell golf courses at LPGA headquarters likely dead

Scott A. Miller/LPGA

Deal to sell golf courses at LPGA headquarters likely dead

LPGA Tour

Deal to sell golf courses at LPGA headquarters likely dead

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DAYTONA BEACH, Fla. — A proposed sale two golf courses at the site of the LPGA headquarters was surprisingly delayed by local officials Wednesday night, liking killing the deal.

An agreement had been reached to sell the two golf courses at LPGA International, home of the women’s pro golf organization, for $3.6 million to C-Bons International Group, Inc.

The would-by buyer, which is the American subsidiary to a Chinese company that owns and/or operates 27 golf courses in the U.S., wants to eventually bring an LPGA Tour stop to the site.

The potential deal appears doomed following a decision by the Daytona Beach City Commission to delay their scheduled vote on approval after details of the sale were discussed at its meeting Wednesday night.

Mayor Derrick Henry and Daytona Beach city commissioners appeared to have growing concerns about Arizona-based C-Bons International Golf Group Inc., during the meeting, the News-Journal reported.

“What buyer in his right mind will want to close on this after what just happened?” Consolidated-Tomoka Land Co. President and CEO John Albright, whose company currently owns the courses, told the News-Journal. “What kind of welcome mat was this?”

His company bought the golf courses from the city in 2017 for $1.5 million.

The would-be new owner, C-Bons International Group, Inc., is an American-based golf course management subsidy of a Chinese corporation. CBIGG pledges to bring the properties up to their “full potential” and vows to keep the two 18-hole courses – The Hills Course and The Jones Course – in “tournament-ready condition.” Finally, the deal guarantees LPGA up to 30 days each year of free use of both courses as well as practice facilities.

CBIGG is based in Gilbert, Ariz., and was “formed to acquire golf and related hospitality properties,” according to its website. It owns 27 golf properties in nine states and has a second office at Sweetwater Country Club in Sugar Land, Texas.

The would-be buyers had hoped to work out a licensing agreement with the LPGA for an annual Tour stop at LPGA International featuring either 20 of the top 40 or five of the top 10 professional women golfers in the world.

LPGA International has been the home site of the LPGA Tour since 1994. The developmental Symetra Tour Championship is currently held there each year in October.

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