Members of Killarney Golf and Fishing Club are to be asked to greenlight the sale of the club’s third course to the neighbouring Liebherr company for over €6m.
A meeting has been called for Mar 28 at which members will be asked to approve the sale of the Lackabane course and buildings.
The course, opened in 2000, is on three sides of the Liebherr crane factory, where close to 600 staff are employed.
Talks between the club and the German-owned firm have been ongoing for weeks and proceeds from the deal are expected to clear the club’s €5m debts.
It is understood the club will also have a chance to continue using the course on a long-term lease for a nominal sum, to be reviewed every five years.
In a letter received by members yesterday, the club said the “proposed sale and the implications of same” would be considered at the planned meeting.
Two motions will be considered: one to change the club constitution, and the other to approve the sale and lease-back of the lands.
Given the club’s financial situation, the sharp decline in the golf market, and consequent drop in green fee earnings, members are expected to agree to the sale.
However, the State would also have to ratify any deal as Fáilte Ireland has a 75% stake in the club.
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