Tiger A Pebble Beach Investor?

In Kenneth Weiss' story on the California Coastal Commission's rejection of the proposed Pebble Beach expansion, he writes:

Ueberroth and other company officials asserted that some development is needed to help Pebble Beach's 130 investors — including Tiger Woods — make a reasonable return, pay for upkeep on the peninsula's famed 17-Mile Drive and meet other expenses.

Is this well known? I don't recall reading this anywhere? 

Comments

[adam]

I had never heard that either. He never showed up for any of the owner's tourneys. And, his blatent skipping of the Clambake would also suggest he has no interest.

[Jim Wilson]

Certainly not as much interest as a more ordinary soul whose two million dollar investment per unit isn't pocket change.

Most Pebble Beach Co. investors chose anonymity. Perhaps Tiger's name is now being used for ill-conceived leverage or intimidation. Much like principal investor Eastwood's, which failed miserably.

The Sierra folk are tough cookies.

[Slim Pickens]

Count me as one that is sort of thrilled that the Sierra Club won this battle.The last thing the Montery Peninsula needs is more development, let alone just another Fazio course.

[the village idiot]

ditto, slim. so the investors need another course in order to pay for upkeep? guess maybe they should have thought their investments through a little bit better in the first place. relying on a government body to make your business model sound is bad practice. if you invested money in anticipation of a favorable ruling, it was risky planning. and if it took some time to realize you needed the other course to improve on a bad investment, then you're also looking for a bailout here. Wonder what greens fees at pebble will be like next year.

[the town drunk]

I agree with the village idiot.

Maybe the few dozen million they make off the 2010 US Open will ease their pain.