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JC Jones

  • Karma: +0/-0
Ballyneal in foreclosure
« on: November 14, 2011, 06:07:43 PM »
Per Colton's blog.

Here's hoping it stays open for a long time.
I get it, you are mad at the world because you are an adult caddie and few people take you seriously.

Excellent spellers usually lack any vision or common sense.

I know plenty of courses that are in the red, and they are killing it.

Steve Lapper

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #1 on: November 14, 2011, 06:20:45 PM »
Per Colton's blog.

Here's hoping it stays open for a long time.


 :( :( :(
 May it find the right suitor!

« Last Edit: November 14, 2011, 09:33:59 PM by Steve Lapper »
The conventional view serves to protect us from the painful job of thinking."--John Kenneth Galbraith

Jim Colton

Re: Ballyneal in foreclosure
« Reply #2 on: November 14, 2011, 06:51:45 PM »
Thanks JC. It's definitely an unfortunate thing for a number of people who have poured a lot financially and emotionally into the club, but hopefully it will come out on the other side better than ever. I doubt a course as good as Ballyneal would just grow over. I'm searching my couch cushions for a couple mill.

Craig Van Egmond

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #3 on: November 14, 2011, 06:55:40 PM »
Wow, how does that happen to a place like Ballyneal.

I hope the club comes through this.

Jason Topp

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #4 on: November 14, 2011, 07:05:32 PM »
Foreclosure as in the bank took title or some sort of bankruptcy?

Michael George

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #5 on: November 14, 2011, 07:27:36 PM »
Deleted.
« Last Edit: November 15, 2011, 06:01:55 PM by Michael George »
"First come my wife and children.  Next comes my profession--the law. Finally, and never as a life in itself, comes golf" - Bob Jones

JC Jones

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #6 on: November 14, 2011, 07:35:09 PM »
Jim

Any word if there are any potetial buyers?


I got 5 on it
I get it, you are mad at the world because you are an adult caddie and few people take you seriously.

Excellent spellers usually lack any vision or common sense.

I know plenty of courses that are in the red, and they are killing it.

Chris Johnston

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #7 on: November 14, 2011, 07:40:58 PM »
Ballyneal is a great place with great people - one of the very best.  While it will probably be a bit bumpy and uncertain, I hope things will work out.  

Hang in there guys.  Never lose the emotion and loyalty to a great place. 

JR Potts

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #8 on: November 14, 2011, 07:53:18 PM »
Yikes.
« Last Edit: November 14, 2011, 10:11:31 PM by JR Potts »

Terry Lavin

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #9 on: November 14, 2011, 08:25:22 PM »
Aargh. Fingers crossed.
« Last Edit: November 14, 2011, 08:32:23 PM by Terry Lavin »
Nobody ever went broke underestimating the intelligence of the American people.  H.L. Mencken

Dan Byrnes

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #10 on: November 14, 2011, 09:36:03 PM »
Any details?  How much are they indebted?  Maybe the bank will take a haircut.  Not that it is all comparable but my club went under a year ago and we owed almost 4 million.  I negotiated the bank, Bank of America, down to 1 million but the membership balked at buying it, I didnt see enough upside and did not have enough working capital as well as money for necesssary improvements on top of the purchase price to buy it myself.  Maybe a mistake long term but didn't want to be strapped in this economy and the horrible weather this year would have made it rough first year.  They eventually sold the mortgage to some local investors for 1.565 million.

Dan

George Freeman

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #11 on: November 14, 2011, 09:40:52 PM »
Anyone know how this will effect the building of the second course???
Mayhugh is my hero!!

"I love creating great golf courses.  I love shaping earth...it's a canvas." - Donald J. Trump

Ben Sims

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #12 on: November 14, 2011, 10:05:20 PM »
That course isn't going anywhere.  It's too good.  And has too many great people.  I wish all things Ballyneal the best.

I would also love to not see all the gory details about outstanding debt, second courses, potential courses of action to "rescue" the club, employee issues, etc. all thrown out here.  I just think it's the prudent thing to do.

PThomas

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #13 on: November 14, 2011, 10:08:15 PM »
this sucks
199 played, only Augusta National left to play!

Rob Rigg

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #14 on: November 14, 2011, 10:12:32 PM »
NOOOOOOO!!!!

Hopefully someone swoops in and saves the day - this is one course that CANNOT be allowed to go night night - it's too good, and such a special place.

David Kelly

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #15 on: November 14, 2011, 10:13:01 PM »
JR Potts,

The plan to save the club would be to have a bunch of people join it.
"Whatever in creation exists without my knowledge exists without my consent." - Judge Holden, Blood Meridian.

Don_Mahaffey

Re: Ballyneal in foreclosure
« Reply #16 on: November 14, 2011, 10:43:51 PM »
Ballyneal the golf course, will survive this. Ballyneal the club, will probably experience a few changes.


Scott Tricker

Re: Ballyneal in foreclosure
« Reply #17 on: November 14, 2011, 11:13:36 PM »
I am shocked to hear this. Does someone have a reliable source to validate this?

Sam Morrow

Re: Ballyneal in foreclosure
« Reply #18 on: November 14, 2011, 11:14:52 PM »
I am shocked to hear this. Does someone have a reliable source to validate this?


For Ballyneal I think Jim is a great source.

Jim Colton

Re: Ballyneal in foreclosure
« Reply #19 on: November 14, 2011, 11:23:16 PM »
I am shocked to hear this. Does someone have a reliable source to validate this?

I certainly wouldn't make this up.

I appreciate the support that many have offered up here and via PM. I can honestly say this: even if I never play another round at Ballyneal, it would've been totally worth it. Knowing what I know now, I still would signed that check back in 2008 (actually, I would've likely paid twice as much). The course is that good, the club is that special and the people I've met over the past 3+ years (including Ben Cox) are that priceless.
« Last Edit: November 14, 2011, 11:33:36 PM by Jim Colton »

Scott Tricker

Re: Ballyneal in foreclosure
« Reply #20 on: November 14, 2011, 11:27:21 PM »
Jim,
On a random note, I think I met you out there this summer during the infamous hail storm....we only had the chance to play 6 holes, but they were the best 6 I had seen this year. We were all in the basement of the clubhouse finishing our meals....I will never forget seeing Rupert's face when the hail was coming down...my heart just broke knowing what it was doing to his greens.
« Last Edit: November 14, 2011, 11:40:27 PM by Scott Tricker »

Morgan Clawson

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #21 on: November 14, 2011, 11:34:11 PM »
Sad.

I have never been, but the pictures capture my imagination like few others.

This course is too special to just go dark.

I suspect Don is correct.

Hang in there Jim!

Emile Bonfiglio

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #22 on: November 14, 2011, 11:39:33 PM »
This club will make it but no doubt go through some hard times along the road. I will offer a silent prayer that "The Donald" stays far far away. My heart goes out to the member, but most of all the staff, keep your heads up.
You can follow me on twitter @luxhomemagpdx or instagram @option720

Tom_Doak

  • Karma: +1/-1
Re: Ballyneal in foreclosure
« Reply #23 on: November 15, 2011, 12:01:04 AM »
I doubt that anyone is as sorry to see this as I am, but it's probably been inevitable since the start of the recession.  Not enough members, not enough visitors, too much debt.

I hope that no one here tries to sort out things out publicly, since there maybe as many interested parties as there are members.  All of the debt is privately held, but that may make it harder to sort out, and not easier.  A bank would have an immediate interest to sell at whatever price it could get, but the various factions here all have their own ideas on what to do.  I am not interested in playing favorites in any of that, since my sole priority is to try and help the eventual owner succeed and preserve the course.  [I'm sure Rupert thinks I didn't do enough in that regard, and I'm sorry if that's the case, even though that story is just as complicated as the members' stories.]

As Jim Colton said in his blog, the people I feel for the most are Dave Hensley and Matt Payne, who have done tremendous work to make the golf course what it is, and who currently have no idea where their futures lie.  Hopefully, it's still at Ballyneal.

Ash Towe

  • Karma: +0/-0
Re: Ballyneal in foreclosure
« Reply #24 on: November 15, 2011, 01:52:50 AM »
From a one time visitor,

Best wishes to all the members and the people who work there.  My memories are of a fantastic course, staff and caddies who could not have been more courteous and taking a genuine interest in making the experience of visiting as good as possible.  Lastly the members who have great pride in their club and are prepared to share it with outsiders.

Good luck for the future, the golf world is a better place for having Ballyneal.

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