Ownership change at club
Renaissance to challenge rivals on golf coast
The Renaissance Club, set up by entrepreneur Jerry Sarvadi, aims to compete with better known venues such as Muirfield on Scotland’s golf coast.
It is thought to charge joining fees of £30,000 and the course was built by world-renowned architect Tom Doak.
Now a “small group of major member stakeholders” has increased its investment in order to buy out the 1/3 ownership interest of Archerfield Estates Limited (AEL) and offer members then chance to buy in. AEL will remain the club’s landlord.
Details of the transaction were not disclosed but a representative of the membership is being added to the club’s board of directors.
At the same time, the lease on the course has been extended back to the original 99 years, negotiated a decade earlier.
Mr Sarvadi said: “We believe this change of ownership structure allowing our members to become equity participants in the partnership will set the club on a long term path to create a world class golf club.”
The Sarvadi family will keep its stake in the Renaissance Club through its US-based vehicle Invest Archerfield.
It follows news last week that The Renaissance Club will be one of the four new Final Qualifying Venues for The 147th Open in 2018. The Renaissance Club will co-host its first championship this year, the Boys Amateur Championship, alongside neighbouring Muirfield.