2 area golf courses grapple with financial woes -
[Cached Version]
Published on: 7/23/2003
Last Visited: 7/23/2003
Willis' nephew, Martin Willis, said his uncle's subsequent offer in mid-June to buy back the club for nearly $2.8 million was motivated primarily by Gordon Willis' feelings for the club and its golf course, which Gordon Willis helped design.
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"We're doing it for one reason and one reason only," said Martin Willis, vice president of Old Heritage Corp.
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But Martin Willis said Gordon Willis, 83, who is chairman of the board for Rockydale Quarries Corp., and Willis' Old Heritage Corp. also have a financial stake in the club's future.
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"We stand to lose a good deal of money if they fill the golf course with patio homes and the subdivision fills up with 'for sale' signs as a result," Martin Willis added.