TPC Michigan Sold

The TPC Michigan in Dearborn has been sold to ClubCorp Holdings, Inc., a Dallas based golf developer. The corporation that said it will invest $1 million in the private golf club.

The TPC Michigan was for sixteen years the host of The Ford Senior Players Championship. It operates under a license from the PGA TOUR.

TPC Michigan originally was developed by PGA TOUR Golf Course Properties, and was sold in 2007 to Heritage Golf Group after apparently running into financial difficulties. That acquisition did not work out, and the course came under control of a court-appointed receiver.

The purchase price was not disclosed, but TPC Michigan had been listed for $3.25 million.

ClubCorp now owns 160 golf courses in 25 states, the District of Columbia, Mexico and China. In Michigan, ClubCorp also owns Oak Pointe Country Club in Brighton and Skyline Club in Southfield. It has 15,000 peak season employees.

I attended a couple of Ford Senior Players Championships and really enjoyed them. It was a disappointment when Ford dropped their sponsorship. I’ve not played the course (although I would really like to), but from walking it at the tournament, it seemed a terrific venue. It’s a Jack Nicklaus signature course coming in at 6,966 yards.

The full press release is below:

ClubCorp Expands with Acquisitions of Two TPC Golf Facilities

DALLAS – ClubCorp, The World Leader in Private Clubs® (NYSE: MYCC). Continuing with an accelerated acquisition pace, ClubCorp has announced the addition of two Tournament Players Club (TPC) facilities – TPC Michigan in Dearborn, Michigan, and TPC Piper Glen in Charlotte, North Carolina.

“The additions of these two prestigious clubs reinforce our commitment to external growth and enables an even closer relationship with the PGA Tour and its exceptional brand,” said Mark Burnett, ClubCorp chief operating officer.

The purchase of the two TPC properties marks the eighth and ninth additions for ClubCorp within the past 12 months. Together, with the new Baylor Club announced today, the company’s expanded portfolio of owned or operated clubs will increase to 160 clubs in 25 states, the District of Columbia, Mexico and China. ClubCorp plans to commence more than $1 million in capital improvements at each TPC property.

The PGA TOUR’S TPC network was established to provide the ultimate host venues for TOUR events – with services and amenities that meet the highest standards of professional golf.

Situated within the historic city of Charlotte, TPC Piper Glen – the site of two past Champions Tour events – offers an 18-hole Arnold Palmer-designed par-72, 6,853-yard course that brings out the best of the rolling North Carolina terrain – with natural rock outcroppings, lush oak trees and quiet lake inlets. Club amenities also include tennis courts, pool, fitness center and clubhouse offering formal dining, the Palmer Grille and private event space that can accommodate groups of 25 to 300.

Playing homage to Scottish style links, TPC Michigan features a stunning par-72, 6,966-yard, Jack Nicklaus signature course with rolling fairways, tiered greens and natural wetlands. The course, built on land originally purchased by Henry Ford, hosted The Ford Senior Players Championship for 16 years – one of only five majors on the Champions Tour. Ideal for golf tournaments and outings, TPC Michigan offers casual dining, bar and lounge, locker rooms and private event spaces for both large and small groups.

“ClubCorp has represented the highest quality in the golf and club industry for 50 years,” added David Pillsbury, president of PGA TOUR Golf Course Properties. “We are delighted to work with them and add value to each of our club networks.”
As a member of the ClubCorp family, TPC Michigan and TPC Piper Glen members can enjoy Community and Worldwide benefits, including complimentary green fees and complimentary dining when traveling to more than 200 private clubs and access to more than 700 hotels, resorts and entertainment venues. Eligible members of both TPC clubs will continue to also have access to TPC Network facilities.

About ClubCorp (NYSE: MYCC)

Since its founding in 1957, Dallas-based ClubCorp has operated with the central purpose of Building Relationships and Enriching Lives®. ClubCorp is a leading owner-operator of private golf and country clubs, business, sports, and alumni clubs in North America. ClubCorp owns or operates a portfolio of approximately 160 golf and country clubs, business clubs, sports clubs, and alumni clubs in 25 states, the District of Columbia and two foreign countries that serve over 370,000 members, with approximately 15,000 peak-season employees. ClubCorp Holdings, Inc. is a publicly traded company on the New York Stock Exchange (NYSE: MYCC). ClubCorp properties include: Firestone Country Club (Akron, Ohio); Mission Hills Country Club (Rancho Mirage, California); Capital Club Beijing; and Metropolitan Club Chicago. You can find ClubCorp on Facebook at facebook.com/clubcorp and on Twitter at @ClubCorp.