External funds for course upgrades

By AML

Former Nicklaus Design executive Tim Kenny has launched a new company aimed at helping existing golf courses upgrade their facilities.

Signature Golf Partners has announced a new programme, involving external sources of both debt and equity finance, and is looking for both private and public courses with which it can work. The external sources will provide funding, while SGP will evaluate and select candidates for renovation services. SGP will also oversee the development and subsequent management of the completed golf courses.

A Signature designer will be engaged to provide golf course design services to enhance the playing experience and provide a new and upgraded brand to each facility. “Our offering is unique in that the existing golf course does not come out of pocket for any of the funds to complete the re-design and renovation,” said Kenny.

Kenny recently retired from Nicklaus Design after 25 years of experience in sales and sales management. His son Kevin Kenny, a golf membership structuring specialist with the firm of Giesen and Kenny will be involved in the new organisation. Carl Mistretta, a business development and management executive who also worked for Nicklaus Design and Greg Norman Golf Course Design has also joined Signature Golf Partners. Kenny says SGP is currently interviewing and evaluating potential opportunities with a focus on golf facilities in major markets that are open for play year round. Municipal and daily fee courses are the target candidates, but private clubs and resorts interested in exploring a new business plan will also be considered, he added.

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