Members Buy Colorado Golf Club

Howard Pankratz reports on good news for the Coore-Crenshaw designed home of the 2013 Solheim Cup and a course thought to have been a PGA Championship contender despite having a non-Rees Jones design and August temperatures potentially under 94 degrees.

Colorado Golf Club said "the acquisition marks a new beginning for the club".

Ferrell said the transaction was completed after months of negotiations and cooperation between the membership and other parties - including the original developers, lenders, creditors and New York real estate investor Arendale Holdings.

"I've never seen a more multi-faceted deal," said Ferrell, who has been in the golf business more than two decades. "It is remarkable all the players could make this happen."