DAYTONA BEACH — A U.S. subsidiary of a Chinese conglomerate has agreed to buy the golf courses at LPGA International, pledging to bring the courses up to their “full potential.”
The pending $3.6 million purchase by Gilbert, Arizona-based C-Bons International Golf Group Inc. is contingent on approval by the Daytona Beach City Commission on Wednesday of an amendment to the 657-acre LPGA Golf Club property’s master agreement between the city and current owner Consolidated-Tomoka Land Co.
The proposed sales price is 2.4 times as much as the $1.5 million Consolidated-Tomoka paid the city in early 2017.
The proposed amendment includes a promise by CBIGG, as the buyer is also known, to keep the two 18-hole courses at LPGA in “tournament-ready condition” and a guarantee to provide the Ladies Professional Golf Association — whose headquarters is located at LPGA International — with up to 30 days a year of free use of both courses as well as practice facilities.
If “tournament ready” isn’t clear enough, the agreement also spells out that the facilities will have be maintained “in at least the same or better manner as other local private golf courses such as Oceanside Golf and Country Club in Ormond Beach.”
Rumors of a potential sale have been circulating throughout the community for months. Teresa Smith, an LPGA International resident and member of the golf club, called them “unnerving” but was encouraged after being told the terms of the deal.
“If what you just said is true, they (LPGA residents and club members) would be ecstatic,” Smith said. “All that would be music to people’s ears. In the absence of information, a vacuum is created and people fill that with rumors and fear.”