So after 10 days, 23 hours, 22 minutes and six, I mean five, seconds, Clublink has announced its much anticipated new “gold” course. Gosh, I almost said new golf course, but that would be too obvious, wouldn’t it?
Drum roll please.
Is it the acquisition of Royal Woodbine, a public course headed toward obscurity? How about a Paul Takahashi upgrade of some track previously best suited for goats?
It is the stunning announcement that Station Creek is being upgraded to a gold club — gosh I almost said golf club again. I recall when this was called Gormley Green and I used to play it after taking my first gig in Toronto. It wasn’t much then and I can only assume it is slightly more now. (note for Tim O’Connor, media guy at CL: I didn’t call SC a goat track. Just said that was what Gormley Green used to be. That might have been hyperbole, but you get my point).
This isn’t really news at all. What does intrigue me is the recent rise in Clublink’s share price — up to $11 for the first time in years — and the thought that the three controlling parties might battle for control over the company once again. I’m meeting with CEO Bob Poile in a few months to discuss the company’s strategy going forward, and will report back then.
In other news, Mike Weir is being tipped as one to watch at Pebble Beach this week by a San Diego paper. According to the PGA Tour blurb, Weir has five top 10s at the AT&T.
Mike Weir, with a second-place finish in 2005, has five top-10s in eight starts at the AT&T Pebble Beach National Pro-Am, including three consecutive dating back to 2003. Weir jumped into second place in 2005 with the low final round at Pebble Beach Golf Links. He shot a 5-under-par 67, aided by a superior ball-striking day that saw him hit all 14 fairways and 15 of 18 greens.
Weir, who missed the cut in Arizona last week, says his game is back in shape after a terrible year in 2005. But even then, he finished second at Pebble. However, you’ve got to wonder whether players like Weir are heading the way of Corey Pavin. Weir, who is a short hitter in a a league that now includes bombers like Bubba Watson and JB Holmes — guys who make Daly look average — are going to hit the ball 40 yards in front of the slight Canadian left hander. And given that Weir’s putting has been questionable for most of the last two years, that doesn’t bode well.
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THAT was the annoucement?
And it’s going GOLD?
I guess it’s all about STOCK PRICE for those running Club Link
I don’t want to be negative, but while Gormley Greens wasn’t much, I think it was actually BETTER than the Station Creek it’s become.
Actually it isn’t about stock price at all. Given the recent movement on the issue, I don’t think CL is a great buy – or is it?
When you look at the golf club portfolio and the membership count, it isn’t a great investment. I mentioned to my buddy the other day, a current Prestige member, that if you look at ClubLink as a real estate company (in terms of acreage) it really is a bargain.
If CL started focusing on real estate development more ( as in the Wyndance and Lakeside @ RockyCrest ) development I think their stock issue will move more positively.
So don’t think of Clublink as a golf membership company, think of it as a real estate play.