Melbourne’s Sandhurst Club has put forth a formal offer to Rossdale Golf Club to work towards a merger between the two clubs.
In the offer, which was sent to Rossdale Golf Club on October 31st, Sandhurst noted that the merger aims to “provide RGC and SHC members with a wider range of sustainable benefits both in the short and long term” as well as “a modern, broader offering and establishing a robust, viable club that will prosper through the inevitable change facing the golf industry.”
Under the terms of the proposed offer, Rossdale golf course and facilities would remain open and operate as at present for at least 3 years. Financial support for Rossdale golf course and facilities would be provided in the order of between $300,000 and $500,000 during that period. Rossdale voting members would receive complimentary 10-year membership subscriptions, while all golf members would be able to play at both of Sandhurst’s two 18-hole layouts as well as the 18 holes at Rossdale golf course while it remains open.
The offer also highlights the development of a new sporting, cultural and environmental complex (which could include leading-edge golf practice and entertainment facilities integrated within a new public sports precinct on a portion of the RGC land) to the value of $10m, that would be gifted to the Aspendale community. Rossdale voting members would be offered a golf shareholding in SHAL (Sandhurst entity which owns the golf courses and clubhouse facilities), with as naming rights of one of the SHC golf courses to “Rossdale”.
The next steps of the process would require a Heads of Agreement by the respective Boards, negotiation and development of detailed proposal, external due diligence process, a proposal put to RGC members to vote on, and, if a favourable vote is received the proposal will be implemented through the execution of a transition agreement.