Golfers:club secure

AHorsham Golf Club project to future-proof its historic course has gained traction with officials announcing they have broken the back of potentially crippling debt issues.

Club leaders told members at a review meeting last night that concerted planning, negotiation and community efforts to return the club to a sound financial position were proving suc

cessful. Board chairman Leo Delahunty said a three-way deal involving the club, third-party funding providers including the community and a bank had more than halved a previous debt position.

“It has placed the club in a much stronger position to move forward. What it means, in a nutshell, is the club is not only going to survive, it has a bright future,” he said.

Mr Delahunty said the club had provided in-depth confidential financial details surrounding how the club was navigating out of danger to members at the meeting.

He revealed the club’s $1.4-million debt position had improved by $739,000 in the past 12 months and cash operations in the past two years had transformed from trading with a $200,000 deficit to trading with a profit.

“We now have a timeline of 10 years to clear the club of all debt and to allow the club to exploit its true value,” Mr Delahunty said.

“We won’t be taking the foot off the pedal in working to ensure the club is in a sound and positive financial position. While it’s already taken a lot of work and effort from many parties, the momentum continues to build.

“It was with confidence and a sense of satisfaction that we were able to present a good news story to members – that we would keep the club’s destiny in their hands.”

Mr Delahunty said an important growth in memberships reflected how the club was moving forward.

“We’ve had a 29 percent increase in memberships, which shows the community, already a significant contributor, continues to back an important sport and recreation asset for Horsham and the broader region.”