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Wentworth golf club backs down over £100k fees | Wentworth golf club backs down over £100k fees |
(35 minutes later) | |
The Chinese owners of one of Britain's most prestigious golf clubs have shelved plans to reduce the number of members by hugely increasing fees. | The Chinese owners of one of Britain's most prestigious golf clubs have shelved plans to reduce the number of members by hugely increasing fees. |
The Beijing-based Reignwood group wanted to cut membership at Wentworth in Surrey from 4,000 to 900 to make it the most exclusive club in the world. | The Beijing-based Reignwood group wanted to cut membership at Wentworth in Surrey from 4,000 to 900 to make it the most exclusive club in the world. |
It was to charge existing members a £100,000 debenture and increase annual subscriptions from £8,000 to £16,000. | It was to charge existing members a £100,000 debenture and increase annual subscriptions from £8,000 to £16,000. |
Now the club has said existing members will not have to pay the new debenture. | Now the club has said existing members will not have to pay the new debenture. |
Residents of the neighbouring Wentworth Estate, where houses can cost many millions, will also get reduced rates. | Residents of the neighbouring Wentworth Estate, where houses can cost many millions, will also get reduced rates. |
The club announced in October it would be charging existing members £100,000 and new joiners £125,000. | The club announced in October it would be charging existing members £100,000 and new joiners £125,000. |
The planned charges led to a bitter dispute between golfers and Reignwood, who bought the club for £135m in 2014. | |
Club members and Wentworth Estate residents threatened legal action against the proposals which they said would fundamentally change its nature and character. | Club members and Wentworth Estate residents threatened legal action against the proposals which they said would fundamentally change its nature and character. |
Residents also threatened to block roads during the European Tour's PGA championship, held at the course every year. | Residents also threatened to block roads during the European Tour's PGA championship, held at the course every year. |
Eric Leon, from Wentworth Residents' Association, said local people, who own the estate's private roads and verges, were not all multi-millionaires and could not afford the inflated fees. | Eric Leon, from Wentworth Residents' Association, said local people, who own the estate's private roads and verges, were not all multi-millionaires and could not afford the inflated fees. |
Wentworth Club said the "membership update" followed a number of meetings between members, residents and Songhua Ni, president of Reignwood. | Wentworth Club said the "membership update" followed a number of meetings between members, residents and Songhua Ni, president of Reignwood. |
He said: "We have listened to a variety of differing interests from members and estate residents. | He said: "We have listened to a variety of differing interests from members and estate residents. |
"We are continuing to make every effort to accommodate those, whilst focusing on our vision of making Wentworth Club the world's premier golf and country club." | "We are continuing to make every effort to accommodate those, whilst focusing on our vision of making Wentworth Club the world's premier golf and country club." |
Reignwood said it would be investing £20m into the club and golf courses by December 2018, with the first stage of the upgrade beginning in June after this year's PGA Championship. | Reignwood said it would be investing £20m into the club and golf courses by December 2018, with the first stage of the upgrade beginning in June after this year's PGA Championship. |
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