TY Buys Plantation Course

I knew they were paying the PGA Tour execs a lot but...what? Oh, not that Ty? Sorry. Running a search on this "TY Management, Inc." and reading Randi Petrello's story on the sale of the Kapalua Plantation Course for $50 million, gulp, something just doesn't seem quite right. Of course, you are talking about one of the net's real LLC experts here, so if anyone actually understands what this means, feel free to set the site host straight. Thanks to reader Russell for this:

Under the terms of the sale, which is expected to close before the end of the month, Kapalua Plantation Golf LLC, a subsidiary of MLP, will lease the golf course from the new owner and continue to operate it for at least two years.

Maui Land & Pineapple said it will use proceeds from the sale to reduce debt.

“In this transaction, we will receive cash for the sale of the land and improvements, and will continue to operate The Plantation Course under the Kapalua brand with our golf management team,” said Robert Webber, president and CEO of Maui Land & Pineapple, in a statement. “We expect our golf team, led by Gary Planos, to continue to operate The Plantation Course in a manner that has led to Kapalua Resort’s world-wide recognition as the number one golf resort in Hawaii and host site for the prestigious PGA TOUR season opening event, the Mercedes-Benz Championship.