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Narin & Portnoo -Receivership threat

Comments

  • #2
    red ears
    Closed Accounts Posts: 945 ✭✭✭red ears


    From reading that it seems they made a hash of things financially. Building a new clubhouse and some new holes which they can't afford. A guy is coming in offering to clear the debt and some members aren't happy. Seems pretty ungrateful to me. There is no other way out unless the members raise 1.7 million themselves.


  • #3
    Senna
    Registered Users, Registered Users 2 Posts: 8,800 ✭✭✭Senna


    The guy has actually bent over backwards to help the club, before he bought the debt from the bank, 2 or more years ago, he made an offer to the club, clear all their debt, give money to improve the course and machinery, allow all the existing playing rights and a guarantee was made for future costs, he would also build a hotel and put money into the area. The committee flat out refused and decided to bury their head in the sand and ignore the debt.
    So he bought the debt from the bank and I can guarantee he is now getting a much better deal, fair play to him, no one else is interesting in this club and he is only interested because of his family connections to the course and area, he could put his money to much better uses financially.


  • #4
    BigChap1759
    Registered Users, Registered Users 2 Posts: 1,612 ✭✭✭BigChap1759


    Great to hear that - it is a beautiful course in a beautiful part of the country. Would be a crying shame to see it lost


  • #5
    Mushy
    Registered Users, Registered Users 2 Posts: 21,656 ✭✭✭✭Mushy


    Love that course. Might play it this week in case it's a last chance!


  • #6
    slave1
    Moderators, Sports Moderators Posts: 19,470 Mod ✭✭✭✭slave1


    Lovely course, two long tight par 5's back to back IIFC, crime to see it go under


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  • #7
    Running Balance
    Registered Users, Registered Users 2 Posts: 688 ✭✭✭Running Balance


    Jayus are these locals/members crazy??

    Fancy securing your clubs future for a 100 years - no now go away


  • #8
    slave1
    Moderators, Sports Moderators Posts: 19,470 Mod ✭✭✭✭slave1


    Interesting update...

    http://donegalnews.com/2017/10/closure-threat-lifted-top-donegal-golf-club/


  • #9
    Mushy
    Registered Users, Registered Users 2 Posts: 21,656 ✭✭✭✭Mushy


    Article in Examiner about the course. Been closed since last week, EGM with the members in Ardara to decide what to do.

    Lunacy, a great spot for a game and it could go so easily due to what appears to be stupidity.


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