Dear San Roque members,
Another glorious week at San Roque and how nice it is to see both courses pretty busy with members and guests – still no rain although we might get a little drop later this week. There is definitely more than a hint of Spring in the air and temperatures have risen a couple of degrees since the beginning of March.
Update on sale of Club
Over recent weeks I have been trying to secure additional funding and to resolve the tax issues in respect of our MBO. There appears to be no solution to the tax problem and I am not prepared to ask members to be exposed to a potential tax charge should the Spanish authorities challenge the €10k valuation of a share and deem that shares have been issued at undervalue.
On a more positive note, I have held very productive talks with investors from Ireland who already have significant business interests in Spain. These investors initially wanted to help with the MBO fundraising, but with no way around the tax problem, they have now expressed a desire to acquire the Club outright. Having received a written undertaking that these investors have the resources to deliver a turnaround plan for San Roque, I have shared the Members Circular & our due diligence with them. Their desire is to work with the Members to re-establish the Club as premium golfing experience for both members and guests. They have undertaken to ‘adopt’ our plans for the Club, including making the necessary investments to the old course as detailed by the Turfgrass agronomist report. Clearly, they would also be able to effect immediate improvements to the Club’s Food and Beverage offering, something that would be most welcome.
Of course, this bid may come a little late as I understand that the Russian Consortium are also ready to complete. One way or another, I would hope a deal will be completed in the very near future and of course, I will keep you informed on all developments.
Last Tuesday’ roll up was won by David Steele with an excellent 37 points, just prevailing over David Campbell who recorded the same score, but lost out on handicap. Michael Cowburn was third with 35 points and fourth was Chris Harris (also 35pts). On Thursday, 24 players celebrated Andalucía Day in bright sunshine and were provided with a fine bottle of Andalusian Olive Oil to commemorate the occasion. This popular Flag Day competition yielded some very scoring on a tranquil day and no fewer than 6 players were able to plant their flag at the back of the 18th green – well played all. The honours went to David Campbell who carded a very impressive net 69, holding off challenges from D-Mac (net 69) and Chris Harris (net 70). Anne Middlehurst was the highest placed lady and was not far away from a podium finish with a net 73.
It was the fourth Ranking of the year on Sunday and Hugh Richards came out ahead of the other 19 players carding a very impressive 39 points. Stuart Buckwald was second with 36 points and Andy Stanford in third with 35 points. Special mention for Zak, who was well and truly back, recording a gross 69 off scratch to register 39 points too – great playing Zak & Hugh!!
This week, we have the normal roll up on Tuesday & Thursday before a Mixed Texas Scramble on Members Day on Saturday 9th March 2019. We have had several Texas scrambles this year and they have proven to be very popular and social events and I hope that this will be the same! For this event, the Captains will select the teams to ensure level handicapping etc and therefore you just need to register your entry by putting your name down on the membership board, calling the pro-shop or emailing email@example.com. As an added bonus, I will endeavor to conduct a draw for the singles and pairs match play during the post-match drinks….
I look forward to seeing you at the club during the week
Keep swinging it well