"He Brought The U.S. Open To A Cow Pasutre, All It Cost Him Was His Fortune"

[David_Tepper]

https://www.wsj.com/articles/he-brought-the-u-s-open-to-erin-hills-all-it-cost-was-his-fortune-1497277676?mod=trending_now_3

[Steve Lang]

   $26 million spent... wow!  Even more than Chambers Bay at $20 million...  and the message here is?

[David_Tepper]

"and the message here is?"

If you want to make a small fortune in the golf business, start with a large one.

[PCCraig]

I hadn't heard the story of Bob Lang in almost 2 days, thank God for the WSJ and it's fine reporting! 

[BCowan]

David,

I can't get enough of the Bob Lang story.  Though he made some poor decisions, he is the type that make the US a wonderful country to live in.  ###Risk takers

[Kalen Braley]

"and the message here is?"

If you want to make a small fortune in the golf business, start with a large one.

Perhaps his mistake was trying to pursue an open.  How much less could he have spent if he just wanted a Ballyneal type deal?

[Phil McDade]

"and the message here is?"

If you want to make a small fortune in the golf business, start with a large one.

Perhaps his mistake was trying to pursue an open.  How much less could he have spent if he just wanted a Ballyneal type deal?

Well, a lot less, but he wasn't the guy who wanted to build a place like this: http://golfclubatlas.com/courses-by-country/usa/wolf-point-ranch/


Lang wanted the US Open, from the very beginning (well, almost the very beginning). He had a lot of gumption, and a huge ego, to think he could pull that off. And he did, in a way.

[Kalen Braley]

"and the message here is?"

If you want to make a small fortune in the golf business, start with a large one.

Perhaps his mistake was trying to pursue an open.  How much less could he have spent if he just wanted a Ballyneal type deal?

Well, a lot less, but he wasn't the guy who wanted to build a place like this: http://golfclubatlas.com/courses-by-country/usa/wolf-point-ranch/


Lang wanted the US Open, from the very beginning (well, almost the very beginning). He had a lot of gumption, and a huge ego, to think he could pull that off. And he did, in a way.

Phil,


Given that he wanted a US Open from the start, I'm guessing $25 mill seems to be the right price.  The biggest part of that equation which seems "gumption-like" to me is its relative remote location....


P.S.  How much will we expect green fees to go up?  I heard Chambers went from expensive to "rape and pillage" for a one time play.

[BCowan]

Remote location, it's 45 mins from Milwaukee?  It might be by a suburb in 40 years.  Yeah what we really need is another minimalist course that does 30 rounds a day     Kalen any course that gets a major, their green fees will sky rocket.  At least people don't have to access whore their way on it. 

It should of cost him no more then $13 million to build IMO. 

[Kalen Braley]

Remote location, it's 45 mins from Milwaukee?  It might be by a suburb in 40 years.  Yeah what we really need is another minimalist course that does 30 rounds a day     Kalen any course that gets a major, their green fees will sky rocket.  At least people don't have to access whore their way on it. 

It should of cost him no more then $13 million to build IMO.

Ben,


Might is a big if in this situation.  Who would have predicted Detroit would have contracted so much?  But that's why I also qualified it with "relative" remote location.  Off the top of my head I can't think of another recent major venue that was so far away from at least a 200k size city...


P.S.  http://www.mmac.org/economic-trends.html

[BCowan]

Remote location, it's 45 mins from Milwaukee?  It might be by a suburb in 40 years.  Yeah what we really need is another minimalist course that does 30 rounds a day     Kalen any course that gets a major, their green fees will sky rocket.  At least people don't have to access whore their way on it. 

It should of cost him no more then $13 million to build IMO.

Ben,


Might is a big if in this situation.  Who would have predicted Detroit would have contracted so much?  But that's why I also qualified it with "relative" remote location.  Off the top of my head I can't think of another recent major venue that was so far away from at least a 200k size city...


P.S.  http://www.mmac.org/economic-trends.html

Kalen,

   Detroit is going to experience Sub Prime Auto bust very soon and the previous bust was predicted by a few well informed folks.    Pinehurst?   Metro Milwaukee has 2 Million people.  People travel all over the US to go to the Open.  I was at the last Pinehurst one, and saw so many different state plates. 

[Kalen Braley]

Ben,


The risk clearly paid off for him, and I give him all the credit in the world for it.


As for Pinehurst, it has a very long and rich golfing background going back 100+ years with countless national championships...I hardly think you can compare its remoteness to a cow pasture in BFE...

[BCowan]

Kalen,

  Pinehurst has went bust in the past.  Wisconsin could be the best Golf state in the US in 10 years.  There are many folks that can play Erin and not deal with an expensive CC Chicago membership and it would be easier to get to Erin from Milwaukee burbs then from the North burbs of Chicago to south burbs day in and day out.  Only 12 million folks within 2.5 hrs of Erin, hardly BFE  ### Midwest bashing by Kalen

[Kalen Braley]

Ben,


You can jump to conclusions and take it personal if you like, but its nothing against the Midwest.  It would be no less absurd to build an 8000 yard monster in the middle of Utah or Wyoming and try to attract a major there either...

[BCowan]

Kalen,

   45 mins from a metro area of 2 million people isn't absurd.  Also this notion that 8,000 yards monster is the elephant in the room is that of someone who doesn't understand maintained turf grass.   Does Wyoming even have 2 million population, that analogy is very flawed. 

[Kalen Braley]

Kalen,

   45 mins from a metro area of 2 million people isn't absurd.  Also this notion that 8,000 yards monster is the elephant in the room is that of someone who doesn't understand maintained turf grass.   Does Wyoming even have 2 million population, that analogy is very flawed.

Northern Utah has 2+ million that all live within an hour of each other....and we ain't never getting a PGA tour stop here, much less a major. 

[Rees Milikin]

Kalen,

   45 mins from a metro area of 2 million people isn't absurd.  Also this notion that 8,000 yards monster is the elephant in the room is that of someone who doesn't understand maintained turf grass.   Does Wyoming even have 2 million population, that analogy is very flawed.

Northern Utah has 2+ million that all live within an hour of each other....and we ain't never getting a PGA tour stop here, much less a major.

Sucks for Utah

[Kalen Braley]

Kalen,

   45 mins from a metro area of 2 million people isn't absurd.  Also this notion that 8,000 yards monster is the elephant in the room is that of someone who doesn't understand maintained turf grass.   Does Wyoming even have 2 million population, that analogy is very flawed.

Northern Utah has 2+ million that all live within an hour of each other....and we ain't never getting a PGA tour stop here, much less a major.

Sucks for Utah

We aren't alone...lots of other midsize metro areas to commiserate with us! 

[Tom_Doak]

"and the message here is?"

If you want to make a small fortune in the golf business, start with a large one.

Perhaps his mistake was trying to pursue an open.  How much less could he have spent if he just wanted a Ballyneal type deal?

About half as much.  But remember, Ballyneal went bankrupt once, too.  There are no financial guarantees in golf development, even if your course DOES make the top 100 or host a U.S. Open.  That's why it attracts people who have lots of ego at stake.

[Mark Provenzano]

"and the message here is?"

If you want to make a small fortune in the golf business, start with a large one.

Perhaps his mistake was trying to pursue an open.  How much less could he have spent if he just wanted a Ballyneal type deal?

Well, a lot less, but he wasn't the guy who wanted to build a place like this: http://golfclubatlas.com/courses-by-country/usa/wolf-point-ranch/


Lang wanted the US Open, from the very beginning (well, almost the very beginning). He had a lot of gumption, and a huge ego, to think he could pull that off. And he did, in a way.

Phil,


Given that he wanted a US Open from the start, I'm guessing $25 mill seems to be the right price.  The biggest part of that equation which seems "gumption-like" to me is its relative remote location....


P.S.  How much will we expect green fees to go up?  I heard Chambers went from expensive to "rape and pillage" for a one time play.

Chambers Bay rack rate for non-residents is up, but they have multiple tee times for next week at $105 + tax. That's less than I paid in September 2010.

[Kalen Braley]

So they did adopt the Torrey Pines model then.  Not surprised... 

[Mike Schott]

David,

I can't get enough of the Bob Lang story.  Though he made some poor decisions, he is the type that make the US a wonderful country to live in.  ###Risk takers

Risks are fine. It's how he spent the money which is the issue. It seems his ego was out of control.

[Joe Zucker]

Kalen,

   45 mins from a metro area of 2 million people isn't absurd.  Also this notion that 8,000 yards monster is the elephant in the room is that of someone who doesn't understand maintained turf grass.   Does Wyoming even have 2 million population, that analogy is very flawed.

Northern Utah has 2+ million that all live within an hour of each other....and we ain't never getting a PGA tour stop here, much less a major.

Sucks for Utah

We aren't alone...lots of other midsize metro areas to commiserate with us! 

Of the top 20 Metro areas in the US, several don't have a regular tour stop in the area: St. Louis, Denver, Twin Cities, Seattle, Philadelphia, Miami, Detroit, Chicago (BMW is there half the time).  I know weather constrains the amount of time you can play in the north, but it is surprising they would miss these markets regularly.

[BCowan]

David,

I can't get enough of the Bob Lang story.  Though he made some poor decisions, he is the type that make the US a wonderful country to live in.  ###Risk takers

Risks are fine. It's how he spent the money which is the issue. It seems his ego was out of control.

I disagree about ego but neither of us know him.  He created something and doesn't play Golf.  He obviously didn't take the most profitable route.  He seemed to be obsessed and determined so much to cloud his judgement.  Those ecentric folks are wonderful, he got the ball rolling.  Obviously he spent money on stupid things.   He was out getting his hands dirty and was hell bent on accomplishing his goal.  It's his week for validation. 

[Daryl David]

David,

I can't get enough of the Bob Lang story.  Though he made some poor decisions, he is the type that make the US a wonderful country to live in.  ###Risk takers

Risks are fine. It's how he spent the money which is the issue. It seems his ego was out of control.

I disagree about ego but neither of us know him.  He created something and doesn't play Golf.  He obviously didn't take the most profitable route.  He seemed to be obsessed and determined so much to cloud his judgement.  Those ecentric folks are wonderful, he got the ball rolling.  Obviously he spent money on stupid things.   He was out getting his hands dirty and was hell bent on accomplishing his goal.  It's his week for validation.

All for celebrating the dreamers and risk takers willing to lose their fortune. It's ones that lose other people's money without a second thought that are scary.