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Spey Bay is set to be under new ownership soon, after a group of cryptocurrency and golf enthusiasts successfully bid to buy the golf course in the north-east of Scotland.
In a Twitter Space hosted by LinksDAO, the group announced that their bid for Spey Bay and the facilities, which include an 18 hole golf course, clubhouse and driving range site had been accepted.
Members of the group confirmed that they were in a “diligence period” but that they expected the Fochabers course to be officially under their ownership in the coming months.
We won the bid.
WE'RE BUYING A GOLF COURSE!!!
— Links (@LinksDAO) March 16, 2023
The group’s CEO, Jim Daily, confirmed to bunkered.co.uk that existing and new members could expect “strong investment” into the property, which had been put up for sale earlier in the year, with architects who have designed “top 100” golf courses offering their services.
“If the transaction closes, we will be hiring a top architect to do renovations that will honour the legacy and history of the course while improving the playing experience,” he said.
Another member said during the Twitter Space that there would be a “not insignificant amount of work,” that would help the course, “stand out from every other links in Scotland.” Work such as sharpening bunker edges and removing gorse has been planned.
Another member of the US-based group said that the golf course was currently “good, but going to be getting a lot better very soon.”
The development comes shortly after it was announced that the property was up for sale, and the group overwhelmingly voted to bid for the course.
Due to the paperwork not being finalised, the price the group paid can’t yet be disclosed, but it was on the market with offers over £750,000.
LinksDAO describe themselves as “A global community of golf enthusiasts in web3 reimagining the modern golf and leisure club.” They raised over $11million in one day last year. After they were founded, they sold NFTs which raised in the region of $12million.
In the process of consulting with their members, LinksDAO said that purchasing Spey Bay wouldn’t impact on their plans to buy other golf clubs in the USA and that the opportunity to purchase Spey Bay was much better than purchasing other “mediocre” golf courses.
Currently, members of the group have access to several US-based courses, but the Scottish course is the first that they are set to own.
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