New Wentworth Owner Backs Down From Rejoining Scheme
/After showing few signs of caving, even as it was speculated that China-UK relations might be impacted, Chinese billionaire Chanchai Ruayrungruang's Reignwood is not going to make members of Wentworth rejoin for £100,000.
Thanks to reader Tom for Telegraph's Robert Mendick reports.
Following negotiations, the owners said the new debenture scheme would now be voluntary and that there would be no reduction in the number of members.
Voluntary! That's charming.
Precise details will be announced at an extraordinary general meeting on Tuesday and followed threats of legal action.
“This development is very good news,” said Nigel Moss, who led the members’ revolt, “This is a very positive step forward. There are some outstanding issues but many of our concerns have now been addressed.”
This should spare May's BMW Championship of potentially uncomfortable moments. In theory at least.