Tim W.
I assume all leases will be assigned to the new entity. However the landlord, in the case of Rec. Park, the City of Long Beach, will need to consent to the assignment. American Golf may attempt to conceal the deal by indicating that the shareholder David Price will still be the majority shareholder and therefore no consent will be required. A smart city will not buy this. In the case of Long Beach, Rec. Park is not an issue, but Skylinks which is one of the worst maintained facilities in Southern California could be an issue. If I were the powers that be in Long Beach, I would use this opportunity, leverage, to extract some effort by the management company to improve the conditions at Skylinks. American Golf has been telling Long Beach that as soon as American Golf improved their financial position, they were going to do a major renovation at Skylinks. That has been laughable, except to those who play there.