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Old York CC 
Old York CC to exit Talamore Family, for sale

By Joe Logan
Published August 16, 2012

Talamore and Old York CC, which last November became the fifth club to join the Talamore Family of Clubs, will part ways, beginning in 2013.

 

In a letter to members this week, Talamore owner Bob Levy said the association with Old York CC, in Chesterfield, South Jersey, had been a deal to manage the club, not buy it.  Now, he told Talamore members, Old York’s owner, Corinne Eget, had decided she wanted to sell the club.  Levy said he is not prepared to be the buyer.

 

"We did explore the possibility of purchasing Old York at this time;" Levy wrote to members.  "However, based on near term plans and commitments at our other Club, the timing was just not right."

 

Reached by phone Wednesday, Levy reiterated what he wrote in the letter.  "Honestly, it just didn’t fit my timing," he said.

 

Instead, Levy said he and Talamore will assist and support Mrs. Eget in the sale of the club, which she said in a separate letter to Old York CC members that she hopes to complete within 60 days.

 

Mrs. Eget has retained a Dallas brokerage firm, Fairway Advisors, to sell Old York CC.  Fairway Advisor’s website lists the property for $3.9 million.  Offers are due by Sept. 28, according to the listing.

 

In her letter to members, Mrs. Eget said it is with a "heavy heart" that she is selling the club, which she had owned and operated for 19 years with her late husband, Ed.

 

"Since Ed’s passing in 2010 I have remained focused on fulfilling his legacy and dream while trying to analyze my life’s priorities," wrote Mrs. Eget. "At this stage of my life, and without Ed, the physical and emotional commitment required to own the Club is simply no longer feasible."

 

In her letter, Mrs. Eget also raised the possibility of selling Old York to the existing non-equity members, turning it into an equity club.

 

One obvious question is what all this means, if anything, for Levy’s pursuit of the strategy he calls the "multi-club" concept  --  offering a single membership that gives members access to several clubs that are diverse in every way, including geographically, while enabling Talamore to consolidate and cut costs.

 

When Old York CC joined the Talamore fold last fall, it was the fifth club in Talamore’s family of clubs.  Levy started with Talamore CC, in Ambler, more than 20 years ago; then came Talamore Resort and the Mid South Club, both in the Pinehurst, N.C., area.   In 2010, Levy added Applecross CC, in Downingtown.

 

A year or so ago, Levy and Talamore explored acquiring LuLu CC, in North Hills, which was struggling financially at the time; nothing came of it. 

 

Levy said the exit of Old York  from the Talamore Family will have no effect on his pursuit of the "multi-club" concept going forward.  As potential deals come his way, he’ll continue to evaluate them on a case by case basis.

 

 

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