Golf Sales Cut Into Dick's Profits ClubCorp Acquires Sequoia Golf For $265M Disney Posts Record Q3 Despite ESPN CDI Earns Record Quarterly Revenue Adidas Cuts FY '14 Outlook, FY '15 Targets A-B Credits World Cup For Helping Q2 Profits SMI Sees Slight Revenue Drop In Q2 Under Armour's Sales Up 34% In FY Q2 Carmelo Gets Into Venture-Capital Industry Financials Detail Importance Of ESPN To Disney
Upcoming Conferences and Events
ARNOLD PALMER SETS HIS SIGHTS ON BRANDED GOLF COURSES
Published March 5, 1998
Arnold Palmer has teamed up with venture capitalist Peter Nanula and the Hicks-Muse real estate opportunity to fund a $200M real estate investment trust (REIT) comprising of more than 20 golf courses around the U.S., according to Peter Slatin of the N.Y. POST. For Palmer, a REIT is a "tax-effective way of lumping real estate assets -- such as golf courses -- into a single corporate entity." Nanula and Palmer's objective is "to create the first true branded golf courses, using the model of brand-name hotels like Marriott." The REIT will be "launched this spring by Smith Barney" and "is expected" to go public one day. Sources "close to the company" say the REIT "will lease its courses back to their current operators." At "about" 10 of the courses, Palmer's firm is already manager (N.Y. POST, 3/5).