BRATTLEBORO -- The Brattleboro Country Club shareholders have unanimously approved a buyer for the 100-year-old organization and the two sides will be finalizing the deal in the coming weeks.
Board President Jason Kelley said the shareholders met Monday and approved the preliminary deal with the buyer, though the country club is not releasing the name of the buyer, or details on the proposed bid until the deal is done.
"There was a buyer approved by the shareholders and by the lenders," Kelley said. "There are still a lot of details before we get a purchase and sale agreement, and it is not final until all of those details are worked out."
The Brattleboro Country Club shareholders voted on July 24 to sell the publically-held golf course, restaurant and facilities after years of declining membership and mounting debt.
The vote was taken after the country club membership and management tried a number of different marketing strategies to increase membership at the club.
Kelley said in a previous interview that the shareholders were aware of the bleak financial situation, and the vote in July to sell the club to a private investor was not a surprise to the shareholders or members.
While the identity of the buyer has not been made public, and details of the deal are not known at this time, Kelley said both sides want to finalize the purchase and sale agreement as soon as possible.
The banks have approved the financial elements of the deal.
Kelley would not speak for the owner and could not give any details on the future of the country club, or of the 18-hole 6,073-yard par 71 course.
The Brattleboro Country Club is continuing to sell memberships, though it is unclear what will happen to those memberships if the deal goes through.
The future of the cross country ski trails is also in question, as the new owner will have to come to a new agreement with the Brattleboro Outing Club which grooms the ski trails at the golf course and collects dues to pay for trail maintenance.
Kelley sad he hoped the deal would be finalized in the coming month or two.
"We expect to have more details soon," Kelley said. "Everyone is interested in seeing this get done."
Howard Weiss-Tisman can be reached at email@example.com or 802-254-2311, ext. 279. Follow him on Twitter @HowardReformer.