Picked up my copy of "The Golfer" at the HOG this afternoon. Interesting article on Yarra Yarra, who are apparently in severe financial strife and are looking to transferrable memberships as the solution to their woes, just like Hin tingdale did earlier this year. Apparently a breakaway group of half a dozen disgruntled members "The Visonary Group" are trying to take over the committee and force the changes. A few selective quotes from the article:
"the club is in desperate need of capital to overcome the urgent need for refurbishment to the clubhouse and golf shop"
"This proposal creates an opportunity where members have an option to invest in the club by purchasing a saleable asset...a transferrable playing right"
"the clubs general manager said the matter was a "private club matter""
"the club is facing a catch 22 situation with a disgruntled membership, a limited waiting list, negative trading results and a lack of capital. The six members have called on members to support their bid to stand for committee"
I have always held YY up as a classy, respectable sandbelt club with a fine pedigree and a high quality course. What went wrong to bring on something like this? Are there other sandbelt clubs who are also in trouble that we dont know about?