Prestigious golf club asks members for £1,000 loan to help save course

It is a precarious time for golf clubs across the UK and Ireland right now.

Clubs are making major changes to their finances in order to protect their futures amid increased threats of closure.

And as dozen golf clubs battle to survive, one prestigious club in Northern Ireland has taken drastic measures to stave off looming administration.

• New inquiry starts over controversial Scottish golf course

• Top Scottish golf club freezes out new members

Balmoral Golf Club, a historic club in Belfast, sent a stark letter to its 450 members last month warning them that it has three options as part of its rescue operation.

First reported by the Irish News, these include entering administration, selling off land and assets that could see the course reduce to nine-holes, or asking members to each provide a £1,000 loan.

The loan from members would help cover the cash shortfall and pay off club debts that have racked up to £1million.

It is understood that the club told members that they have been burdened by “very high levels of debut from legacy projects” and therefore have been unable to invest in its 18-hole parkland course.

“Our inability to grasp the seriousness of the situation in a timely fashion led to a loss of confidence from our bankers, who made the decision to sell our loan to AB Carval in 2023,” the letter to members read.

“However, we have made some progress in discussions in recent weeks and have some expectation that they may be prepared to accept an amount less than par value for the £1 million debt we owe.”

• Unique Scottish golf club earns huge grant for new clubhouse

• Scottish golf course land considered for 650 homes

The letter, signed off by Balmoral’s council, continued: “Key areas of focus have been retaining or indeed increasing membership numbers, driving income from our bar and catering facilities, enhancing revenue from visiting clubs and societies and enhanced third party income from advertising and other sources.”

Assets such as Balmoral’s clubhouse and greenkeeper sheds are seen as disposable if the club opts to go for the option of selling their land.

Alternatively, if members agree to the loan option, Balmoral has pledged to “deliver a credible plan to turn around the business with a realistic prospect of success” – but this would still come at a cost for the facilities. It would include potentially downsizing to a smaller clubhouse near the 18th green and selling the existing one to a third party developer.

The club is currently weighing up responses from members.

Balmoral is one of Northern Ireland’s most historic courses – not only because it was founded in 1914 – but it was also the longtime home of the first Irish winner of The Open, Fred Daly.

Ben Parsons joined bunkered as a Content Producer in 2023 and is the man to come to for all of the latest news, across both the professional and amateur games. Formerly of The Mirror and Press Association, he is a member at Halifax Golf Club and is a long-suffering fan of both Manchester United and the Wales rugby team.