A report in The Scotsman states that the control of Carnoustie Golf Links, one of Scotland’s most prized sporting venues, has been handed over to a consortium of financiers by its cash-strapped local council.
The article states that a short-term deal has been agreed between Angus Council and the private company, Carnoustie Golf Heritage and Hospitality Group Limited (CGHH), and talks on a longer-term deal, which could see the firm running the venue for the rest of this century, are at an advanced stage.
It is hoped the deal will result in the return to the links of the Open Championship, by injecting capital and transforming it into a “world leading” tourism destination.
Carnoustie has been in public ownership since the 19th century but recently there has been a lack of available funds to make major improvements to on-site facilities, it reports.
The deal has raised ‘concerns that one of the jewels in the crown of Scottish golf is essentially being privatised. Some critics have expressed concern the venue could ultimately fall into the hands of other parties, such as Saudi Arabia, or even US president Donald Trump,’ reports the newspaper.
Under the terms of the seven-figure deal, Carnoustie Golf Links Management Committee (CGLMC), a charitable company that has managed the courses for years, has sold its intellectual property rights, including the ‘Carnoustie Golf Links’ trademark, to CGHH, with all its assets and staff transferring to the private firm.
The arrangement runs until 2033 but the investors want a new, long-term lease to run until 2123.
Leave a Reply