Metacomet Golf Club For Sale
Donald Ross designed Metacomet Golf Club is up for sale just one year after being bought by a group of investors that includes former PGA Tour player and Rhode Island native Brad Faxon.
Read the Email Below
The other investors include Steve Napoli, Brendan VanDeventer, Tim Fay and Karl Augenstein.
The group purchased the club for a reported $2.3 million about a year ago.
It is unclear what the asking price for the club is.
In an email obtained by GolfNewsRI, the group wrote the following:
“We would like to inform the Membership that we have entered discussions toward the possible sale of the Club property.
It is probably not a surprise to our members that our first calendar year was financially difficult, with our losses higher than in the Club’s two prior years.
Our high hopes and primary intent were to grow the Club’s Membership to levels necessary to support the club with minimal ‘Outside’ play and to maintain the Club as a private club. Based on the golf dynamics of the club and the state, and the downward trends of the golf industry, in general we do not see a path toward our ability to do that as a private or even semi-private club.
Since our November meeting, we have been approached by several development groups interested in acquiring the property, one of which we have chosen to proceed with. Part of the discussion involves this group potentially keeping the course open for the balance of the golf season as a public course. Based on the current discussions, if this transaction were to be completed, it would likely be finalized by the end of June or July of this year.
It is our intention to come back to you within the week with a “Pay as you go” monthly billing program beginning March 1st. For those of you who have paid dues in advance, we will return your prepaid amounts within the next few weeks. We have discussed with this group a preference to maintain a “monthly dues” level and still provide protected tee times on Friday afternoons and weekend mornings. We cannot commit this to you, but it is a keen point of interest. There will be no further monthly food and beverage minimums.
We will attempt to be as timely as possible in advising you as more details get resolved and as this situation develops.”
Located in East Providence, Metacomet opened for play in 1901 and was ranked as the tenth best course in Rhode Island in 2018.
It is set on 105 acres of land and is 6,500 yards from the tips and plays to a par 70.
After Faxon’s group purchased the course, it was turned into a semi private course, allowing the public to play during certain times.
According to sources, those who took advantage of the opportunity were not made to feel welcome by members or staff.