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Home»Alternative Investments»Show me the money: UK golf ventures into the private equity era
Alternative Investments

Show me the money: UK golf ventures into the private equity era

By CharlotteSeptember 13, 20264 Mins Read
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Welcome to The Herald’s weekly snapshot of golf business news in Scotland.


The future of The Glen Golf Club in North Berwick has become one of the most closely-watched debates in Scottish golf.

Members are considering a proposal that would see The Ancient Links Golf Company (TALGC) take over day-to-day operations and invest an estimated £8-£10 million in the course and clubhouse. The plan has divided opinion, prompting opposition from some members and a campaign seeking a vote of no confidence in the club’s management committee.

The situation is notable because it is not taking place at a club widely regarded as being in financial trouble. Recent reporting has described The Glen as enjoying record membership, waiting lists and healthy finances.

(Image: Damian Shields)

Instead, the argument centres on a question increasingly facing golf clubs across Scotland and the UK: if outside investors are willing to put millions into facilities and infrastructure, should clubs take the money?

The Glen is far from an isolated example. Since it was established in 2025, TALGC has built partnerships with historic clubs including Scotscraig Golf Club in Fife and Forfar Golf Club in Angus, while also pursuing a proposed long-term arrangement at Montrose Links. Its model is to provide investment capital and management expertise while preserving member access and club identity.

The trend extends beyond Scotland. The wider UK golf market has seen increased acquisition activity from both domestic and overseas investors.

Dubai-based Select Group expanded its UK golf portfolio this year through the acquisition of three golf resorts, while operators such as The Club Company continue to add courses to their estates. Industry observers report sustained investor interest in golf assets, particularly those combining golf with hospitality, accommodation and leisure facilities.


Read more:


Part of the attraction is straightforward. Golf tourism remains strong, participation levels remain above pre-pandemic norms and Scotland’s historic courses retain global appeal. Investors see internationally recognised brands, valuable land assets and growing demand from high-spending visitors.

But infrastructure may be an equally important factor. Research for The Herald Scottish Golf Survey 2026 highlighted concerns around ageing clubhouses, irrigation systems nearing the end of their lives, rising maintenance costs, climate-related pressures and the growing expense of course improvements. Several industry figures pointed out that traditional subscription income struggles to cover the expense of major upgrades.

Viewed through that lens, the battle at The Glen is about more than one East Lothian club. It is testing whether member-owned clubs should rely on their own resources and incremental investment, or embrace external capital to accelerate development. As more investors identify golf as an attractive long-term asset, that question is likely to be asked more often across Scotland in the years ahead.

LIV Golf files for bankruptcy ahead of planned restructuring

(Image: PA)

LIV Golf has begun bankruptcy protection proceedings as it seeks to restructure under a proposed player-first ownership model. A Chapter 11 petition, which is intended to “preserve the company’s business as a going concern”, was filed in the United States on Tuesday.

The breakaway league says it has found a new investor in BC Partners following the decision in April by Saudi Arabia’s Public Investment Fund (PIF) to pull its backing. The reorganised company is expected to be majority-owned by LIV players, with the league saying it remains in advanced discussions with them over the proposed structure.

Read the full story here.

Golfers behaving badly? Club managers are facing a growing disciplinary crisis

Alistair Smith, chief executive of the NGCAA, believes the spike in member disputes could be linked in part to both the impact of Covid lockdowns and increasing use of social media within golf clubs (Image: Supplied)

The National Golf Clubs’ Advisory Association says disciplinary cases have become the single biggest legal issue facing managers throughout the UK. Chief executive Alistair Smith explains why member behaviour, social media disputes and governance failures are creating new challenges.

Read the full story from Around the Greens here.

Click here to sign up for The Herald’s Business of Golf newsletter, out every Sunday.



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