Phil Mickelson Buys Golf Course in Arizona
By mustang6560 on 5/4/11
Phil Mickelson is the beneficiary of an over-populated golf course market in Arizona.

The golf star and his agent recently purchased Sanctuary Golf Course in Scottsdale for a cool $2.2 million. Not a bad price considering five years ago that course was probably valued near $20 million.
Golf clubs all over Arizona, from Superstition Mountain in Gold Canyon to Seven Canyons in Sedona, have been hurt. But the economic fallout is especially noticeable in Scottsdale, the pinnacle of the Valley's sprawling golf landscape of close to 200 courses.

There are just too many golf courses for the metropolitan Phoenix market, said Roger Garrett, an Insight Land and Investments partner who has sold golf courses for 25 years.
I live in Mississippi where there are just over 200 golf courses in the entire state. In metropolitan Phoenix alone, there are 200 courses. Granted, there are more people in Phoenix than in the entire Magnolia state, but you wonder how they ever thought they would be able to support all 200 plus courses. Tack on an economic recession and a crumbling housing market and you have yourself a Grade-A problem. But hey, that's capitalism, right? The boom and bust cycle. The minority of people boom while the majority bust. And then the vultures come in and pick up the scraps (I'm not hating, Phil).

In addition to the struggling golf course market, memberships at private clubs are falling. The clubs have responded by reducing and restructuring the memberships to try and entice existing members to stay and new members to join. The problem is nowadays in big golf markets like Scottsdale, to be a member at private club you have to have $500-$1,000 sitting around per month. For the average golfer, that's too much. That's not even including the initiation fee, cart rentals, food, etc.

Good for Phil, though. Having a name like Phil Mickelson attached to a golf course will definitely help turn the club around.

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[ comments ]
Kurt the Knife says:
mustang6560 says:
Wait a second, legitimatebeef have you hijacked KtK's account?

Good catch, sir.
lcgolfer64 says:
As the saying used to go at my job for a while when people completely F'd up -
"An 'Opportunity' for improvement."

Sounds like he swooped in an amazing bargain!
Steve Renner says:
I just hope they retain the cart girl.
legitimatebeef says:
I would check out Phil's course. I have a real love/hate thing with that guy. His public persona makes my skin crawl sometimes but I have the utmost respect for him as a golfer; I do like the way he plays.
falcon50driver says:
I'm not understanding your problem with his public persona. I had a 20 minute conversation with him and his wife at a hotel in Dallas during the Byron Nelson golf classic. I thought they were super nice folks.
srogers13 says:
I think the people that have a problem with his public persona mainly comes from people who have never met him. From the outside, a lot of people look at what he does, and think he is a phony. That a lot of what he does is for the cameras, and that he is too good to be true. In a sense, they sort of think he is like the Don Johnson character from Tin Cup.
wrhall02 says:
I have the same reaction to his public persona as @beef...but enjoy watching him play golf.
Most of us will never have the opp to hang out with a PGA star. It may be unfair, but we mostly make our judgements on their "TV personality" and Phil's comes across as very SoCal fake (IMO). For example: he declares he is a vegetarian while he owns some 5-Guys franchises (I read he no longer is a veggie). Sure, I would like to meet him in person to change my impression...but that is unlikely.
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