Matthew:
To create a course in Bandon that would play like Augusta National, you will first have to invent the world's biggest windscreen ... and hopefully you can harness all that power for public use.
The only ground left for a fifth course would be The Sheep Ranch, which is still in limbo and likely to stay there for a while. My sense is that like the last two courses, Mr. Keiser already has an idea who he'll hire for that one, and all of the speculation will just be a waste of effort.
It would probably be more fruitful to speculate on who will build the next place of comparable quality to Bandon Dunes and where it might be.
Tom, where could you build a course that plays like the original ANGC?
Sounds like Keiser already knows what he wants to do with the Sheep Ranch. Also seems to me that he wants to create more Bandon Dunes-like places. Though I think it's unlikely that anyone builds another Bandon Dunes complex in the U.S. for many, many years, unless the economy makes a miraculous turn.
Is there enough land around Black Mesa for more courses, beyond the existing one, and the course you are designing?