Fiscally Fraught Golf Course Gets New Owners
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The financially troubled Rancho San Marcos Golf Course will get a new owner in the conclusion of a three-way legal battle between the landowners, the operator and the partnership group.
The sale of the $12.5-million golf course, which was named one of the 10 best new courses in the nation by Golf Magazine in 1998, was approved Thursday by U.S. Bankruptcy Court Judge Robin Riblet in Santa Barbara.
Rancho San Marcos Golf Partners will sell its ownership interest by Nov. 27 to Utah-based Premier Golf International Inc.
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