After a lengthy negotiation and disappointing attempts by the membership to buy the Chaparral Pines golf club, a small group of investors has taken over control.
Buffalo Golf LLC bought the club for an undisclosed amount last month from the gated community’s original developer Crescent Resources, said Steve Loy, an investor with Buffalo Golf and CEO of Gaylord Sports Management in the Valley.
Gaylord Sports represents Phil and and his sister Tina Mickelson.
“We’re able to buy the golf club and will continue to operate it as intended,” Loy said.
For the last three years, membership of the club attempted to buy the elite golf club at least two times, but failed each time to get an affirmative vote among its members.
Loy, who owns a second home at Chaparral and is a golf club member, said he was part of member negotiations. When it became clear the membership would not take over control of the club’s assets, he and several backers decided to buy it.
“We did not want a third party to come in and change it,” he said.
So far, Buffalo Golf expects to make few changes to the club, which includes a clubhouse, trailhead, golf course and real estate office. OB Sports Golf Management of Scottsdale will operate the club.
“The No. 1 change is we want to continue having affordable monthly fees and dues and extend the club to family,” of club members, Loy said.
Buffalo Golf anticipates opening the club to non-property owners at the beginning of the year.
For the first time, anyone who wants to join can, and Loy said rates are “much more affordable than what they were before.”
“I hope everyone will continue to support Chaparral Pines and the Rim Club,” he said.
Loy would not disclose the members of Buffalo Golf.