Lou's point makes the most sense to me. It is in the best interests of 'the whole' to develop this land for housing, it is a huge windfall, perhaps making the land worth £750,000 per acre rather than £7,500 as a loss making golf course. Selling a golf course for development in the UK is like hitting the jackpot of all jackpots. No need for sadness, it will make the other courses stronger.
Whilst I agree with JWs comments about council's and their beheavour, not many golf courses even realise they are losing £7 per round, though many are if they discount inside their basic PPR....ie £600,000 cost to run, 600 members at £700 =£23.33 per round Your PPR (based on 40 rd) then sale silly greenfees at £15 per time...because there is a space.