The article calls it a "bold gamble", although I'd only call it a gamble if there's a chance or expectation that the owner is going to get that $6 million back. This seems more like an emotional play by somebody who's probably got money to burn and is already "in" as opposed to somebody looking at it as a return on investment. Maybe Tim C can address whether this is the case from his talks w/ Mr. McWethy.
And as George pointed out, getting into the top 5 of Chicago public golf is not exactly a huge prize with a pot of gold at the end of the rainbow. Let's assume that Hearn is able to improve the course enough to get it into that second tier of public courses below Cog Hill - Prairie Landing, Cantigny, Pine Meadow, Thunderhawk, etc. I gotta believe many of these courses are struggling right now.
Also, the article and their website don't like a lot of extensive changes that would lead one to believe it'll be that much better. They're moving a green, adding some tee boxes, adding some revetted bunkers (on a marshland course?) and lining a pond with rock-work.
Anybody know how much Medinah is spending to renovate course #1?
Tim: how about this link?
http://heraldnews.suntimes.com/sports/7140388-419/cronin-on-golf-mistwood-golf-club-getting-a-redo.html