Home of golf's Portugal Masters sold in €70m deal

The home of golf’s Portugal Masters has been sold for just under €70m by its owners, the Oceanico Group, to a business consortium headed up by footballer John Terry’s agent.

The Algarve-based Oceanico Golf portfolio includes the famed Old Course in Vilamoura, and the Victoria Course, which hosts the European Tour next month for the Portugal Masters.

Not only is the Old Course considered the jewel in the crown of Vilamoura golf, but it also has scope and permission for a substantial hotel development on site.