Jack Lamberson, who has been trying to sell Fallbrook Golf Course for more than two years, told the Village News on May 27 that he is closing in on a deal.
“We’re working with two different groups and we have acceptable offers from both,” said Lamberson, corporate comptroller and chairman of the board of directors for Fallbrook Golf Course, Inc. “They want to come in and purchase the golf course for a golf course. They’re are going to come in and really try to put it back together as a golf course. I hope they can.”
Lamberson, who planned to be out of town for most of the week of May 30-June 5, said the decision on which group to move forward with would likely be made during the week of June 6-12.
“I won’t give you any names right now,” said Lamberson. “One we are negotiating with is very local and well known. The other ones are down toward San Diego, although they have two or three other golf courses. That’s what we’re working on. It’s just a matter of a couple of financial things. That’s all I can say at this point.”
Lamberson reiterated that both parties are excited about the challenge of turning Fallbrook Golf Course back into a viable business.
“They’re going to put some money in it,” said Lamberson. “I hope that people will work with these people (the new owners) and give them business.”
Lamberson bought Fallbrook Golf Course, a property that contains 116 acres, in a short sale in June of 2012 and said he has lost money on the 18-hole layout from the day he purchased it. He had several meetings with interested parties in May and had one agreement – heavily rumored to be a done deal – fall through late in negotiations.
News that Lamberson is close to a deal with two parties that will keep Fallbrook Golf Course as a golf course will be well received by Gird Valley homeowners, who have feared the property would be sold to a mitigation company and allowed to fall into a dismal state or sold to a housing developer.
The idea of new owners pumping money into the course will be very popular with golfers, most of whom have been boycotting Fallbrook Golf Course due to deteriorating conditions. The few golfers who still tour the course have been braving dry and rugged fairways for months.
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