Members of Westhill Golf Club have saved the club from a financial black hole.
£39,000 has been committed in debentures to the club in a period of a few weeks.
Ladies Captain Karen Templeton updated Westhill members on the situation in a recent statement.
It had been suggested at a previous summit that for every £100 in debentures committed, members would receive £5 off of their yearly fees.
The debentures will be loaned to the club for a minimum of two years before members can withdraw them.
However, the long-term financial stability of the club is yet to be fully addressed with “a remaining small cash flow gap to close”.
Two major new corporate memberships have come about due to companies wanting to help out the club.
New sponsors of the course have also got on board, with a potential further party interested in sponsoring.
This has resulted in over £10,000 in additional income for the club, a figure that “will only rise from here.”
It is hoped that these cash injections will allow the club to maintain the standards that members are accustomed to.
Membership is still a key factor in cash flow for the club, with special deals through to the end of the 2025/26 season on offer.
Unexpected machinery costs put immense financial pressure on the club throughout last winter.
Member uptake was also down, as well as a reduction in corporate membership, meaning income was £30,000 less than expected.
The club was also preparing to break its £70,000 overdraft limit in the near future.
Westhill Golf Club sees cash injection from members
Other than debentures, the club had presented members with three other options for how to raise funds.
These included the sale of the currently rented out Stewards Cottage, and a £160 levy for each member.
There was also the idea of selling land to Rubislaw Estates Limited for housing on Westhill’s current sixth tee and at the side of the 10th tee.
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