A development company has offered Clontarf Golf Club €80 million to buy their land, which could result in members of the exclusive club receiving €100,000 each as part of the buy-out.
Capel Developments has offered the cash to buy the land, and has offered to move the club to Portmarnock Links golf course, which it owns.
It has also offered to provide a 28,000 square foot, two-storey, fully equipped clubhouse at Portmarnock as well as a driving range, short game practice area and putting facilities.
It was revealed in the Irish Independent that of the €80m, €60m will go directly to the 600 members for club funds, should Clontarf move to the Portmarnock course.
Capel Developments, a leading property development company, previously bought Portmarnock Hotel and Golf Links in 2005 for over €70m.
(JM)
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