Golfers might call this a safe approach
With a change in ownership, many club members now own equity in TGC in Falmouth
There are many fantastic golf courses on Cape Cod, the Islands and the South Shore, but there’s only one that goes by the name “The Golf Club.” Located in East Falmouth, TGC—as the club is now officially known—is a private, top-of-the-line golf-only club, meaning few distractions get in the way of the game. The course is not built around or connected to a housing development, for example, and few if any weddings are held at the facility. TGC is simply a golf club of the members, by the members and for the members.
Following a recent change in ownership, the statement above is even more appropriate. In late 2015, The Sacconnesset Golf Society LLC purchased the club from New Falmouth Woods LLC, who had opened the club in 2007. Despite the change, most of the faces around the club remain the same, and many members have now bought in to become equity owners. As of early April, some 75 of the club’s 150 members had become partners in the club, which is now led by a board of directors.
“The reception has been fabulous,” managing partner Gene Crowley says of the arrangement. “The timing is right; the ‘no debt’ is right.” No debt you say? With the substantial equity investment, TGC is now debt-free, a fiscal scenario many private golf clubs can only dream about. In recent years many private clubs around the country have gone under, but TGC’s longevity, financial standing, and committed membership may represent a safe bet for those looking to join.
An employee since 2008, membership manager Gwen Errhalt says the club was founded with three goals in mind: competition, tradition and camaraderie. “TGC was built for the pure golf experience,” Errhalt says. “It’s a real treat. Our members were so happy [with the club] they wanted to invest in it and see it continue.”
Errhalt emphasized that TGC’s members really love their golf. She says the membership also recognizes the importance of growing the game as well as the benefits of hosting charitable golf tournaments, which the club does throughout the year.
Hosting more competitive tournaments is also good for the game, and for the club’s visibility. Charles Passios, the club’s chief operating officer, notes that the Mass. Golf Association recently awarded TGC the hosting rights for both the 2016 Massachusetts Mid-Amateur Championships and the 2017 Mass. Open Championships.
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