"The world changed."

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Jennifer Bjorhus reports on another high-profile course closing, this time 8-year-old Tom Lehman-designed Windsong Farm outside of Minneapolis. Quite a statement from the banker...

"The world changed," said club member and shareholder Mark Lewis.

Lewis, a semiretired businessman in Edina, said Windsong Farm was insolvent and unable to renegotiate its loan with Commerce Bank. Two of Windsong Farm's seven employees will remain through the end of the month, he said.

Lewis blamed the club's demise on poor timing and the difficulty of finding new members to pay annual fees of $7,500 in a lumbering economy.

Windsong's 130 equity members and 100 golfing members, who don't hold stock, weren't enough to make the club work financially, Lewis said. He said he doubts the 130 investors will recoup their investment.

James Senske, CEO of Commerce Bank in Geneva, Minn., said the bank won't comment on customer relationships.

"Like many other banks, some customers of Commerce Bank have been hit hard by the current ongoing economic recession," Senske said in a statement. "In these challenging times for its customers, the bank continues to maintain a strong capital position and remains committed to serving its customers in the normal course of business."

City May Buy Back Papago At Bargain Price

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Thanks to reader Joel for Lynh Bui report suggesting that the City of Phoenix may essentially buy back Papago Golf Course after it had outsourced the restoration and management of Papago to "the Arizona Golf Foundation’s management arm because the city couldn’t afford to do it." And $10 million in debt later, it went into default.

Those close to the matter say Phoenix is looking to spend $1.5 million to $2 million to buy the debt from Compass Bank and take complete control of the golf course.

Phoenix already regained control over management of the golf course, which it is temporarily outsourcing to a private company. But if Phoenix bought the debt from Compass Bank, the city’s investment would retire the debt completely.

If Phoenix didn’t buy the debt, Compass Bank could sell the debt to another investment company or bank and the golf course would still be in debt of $10 million, just to another entity.

Trump National North Carolina?

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Thanks to reader Bill for Kerry Singe's look at the Trump's possible purchase of Point Lake and Golf Club, a Greg Norman design with a Cape Cod themed clubhouse. Cue the chandeliers!

The club's board of governors invited the Trumps, whose company owns 12 clubs, to consider purchasing the Point more than two years ago.

With a reputation for being lavish and high-end, Trump golf clubs often feature bright, open floor plans, ornate decorations and massive chandeliers. Equally upscale are the prices and fees the clubs charge, say people who have visited the property.

Trump said he and his father share a passion for golf and love building things and shaping land. They are currently building a high-profile and controversial golf project in Scotland.

"We love making things amazing," Trump said.

Uihlein: "We can't argue that we have the best interest in the game. We can make that argument, but the fact is we represent the commercial landscape."

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Courtesy of AP's Doug Ferguson, more of the kinder, gentler Acushnet CEO Wally Uihlein talking about the relationship between rulemakers and manufacturers.

The debate between tradition and technology has been around more than a century, and that is not likely to change. Uihlein said he can make an argument "for or against bifurcation" – different equipment rules for pros and amateurs – although that should not be an agenda that any manufacturer could promote.

"We still have a commercial genesis to that thought process," he said. "We can't argue that we have the best interest in the game. We can make that argument, but the fact is we represent the commercial landscape. And so, it doesn't matter how noble our argument is. It's still going to be seen as to some degree commercially prejudiced."

Uihlein said it's up to the R&A and the USGA to not only set the rules, but to assume greater responsibility in the game's future.

"If not, who does?" he said. "There's always going to be that question of whose game is it, and who's responsible for its perpetuation and sustenance."

OK, So Maybe Not Every Move Chubby Makes Is So Hot

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Simon Goodley of The Observer reveals that the agent for the last three major winners--the Animal Killer, Rory McIlroy and Darren Clarke--may have been shedding more than tears of joy after their wins. Thanks to reader Stuart and others for sending this story on Chubby Chandler's costly move in July, 2010.

Companies House documents reveal that on 14 July 2010 Chandler sold most of ISM Group – the holding company of ISM. Just one day later, Louis Oosthuizen strode out for the Open at St Andrews and teed off an incredible run for Chubby's boys: within 72 holes the South African had become the first player in ISM's stable to win a major in 20 years of trying, just as Chandler had relinquished control of 75% of a business that was about to see its prospects transformed.

Chandler admitted: "I don't live my life [regretting things]. I'm not a person that looks backwards. Maybe this run started because of that [deal]. If I lived my life wondering what would have happened and about 'what ifs' then I wouldn't get very far. The life I lead is very much a precarious one. There's nothing to say that five of these guys won't lose form. You tend to look forward not back. I'm not very grown up about a lot of things, but I'm very grown up about that."

According to Oliver Hunt, a partner at sports law firm Onside Law, ISM's run of winners could have been worth at least an extra £1.4m to ISM.