Ballina Golf Club in talks to settle long-term debt
The debt was accrued during the redevelopment of the clubhouse 20 years ago.
Ballina Golf Club has said it is "business as usual" as it seeks to agree a final settlement over a long-standing debt.
The club, which was founded in 1910 and is fully owned by its members, obtained a bank loan in early 2004 for a significant clubhouse development, which was fully completed.
However, the aftermath of the 2008 financial crash presented difficulties for the club as membership fell, and the bank agreed to restructure the loan, which eventually fell due in full in 2024. Pepper Finance is now managing the loan on behalf of the bank but the club is actively participating in negotiations over the settlement of this loan and hopes to restructure the debt.
Club treasurer Kenny Casey said the club has made some progress in its fundraising efforts and is "positive" about the ongoing process, adding that it is currently business as usual at the club.
“We hope that the strong response to date continues, and that will enable us to reach a positive outcome for all involved parties by the end of this calendar year,” he said. “The club continues to operate as normal ensuring that members, guests and visitors to the course and restaurant can enjoy our facilities and services.”
Club member Michael Boland said the club plays a vital role in the local community and there is a strong desire among the people in Ballina for it to get through this period.
“We offer a lot of support to senior and junior members and it is important to tourism.
"A big volume of organisations use our facilities to hold charity classics and other events,” said Mr Boland. “There is a huge social element to our club, especially for our older members who love the opportunity to get out and integrate and meet with other people.
“It is a source of employment and a social hub, it is an important part of life in Ballina.”
Mr Casey said the club was really grateful to anyone who has helped it during this current period, including members, other golf clubs in the region and the negotiating team, who have given their time voluntarily.
“We are very fortunate to have the full support of our local politicians, businesses and the North Mayo community to help us through our current situation. We are thankful for the many offers of support received to date,” said Mr Casey.
