Source: The Daily News of Los Angeles
Valencia, Calif. - The Newhall Land and Farming Company announced Wednesday it will absorb the PGA's interest in its TPC at Valencia golf course and hire a new management company.
Marlee Lauffer, Newhall Land's vice president of corporate communications, said the development company wants to change the focus of the club, managed since it opened in June 2003 by the Tournament Player's Club, a Professional Golf Association brand name.
TPC had hoped to draw big-name tournaments to the course, but, so far, has failed.
Lauffer said Newhall Land, which had maintained controlling interest in the course, will hire Orange County-based Western Golf Properties to manage the semi-public course. She said the focus will not be on drawing national tournaments, noting the PGA has long-standing commitments with established courses in the region.
Newhall Land will retain the existing staff, although General Manager Perry Dickey has told the company he will oversee the transition, then stay with the TPC organization. The golf course will retain the TPC name and sell the organization's trademark goods in the pro shop, she said.
Lauffer would not release the terms of the buyout.
"There's really no specific issue that prompted this, other than our recognition that this asset is already a premier golf course and can be enhanced more by making it a sole focus rather than part of a larger network," Lauffer said.
Newhall Land has immediate plans to expand the locker room, then work with the staff on any further changes, she said.
"We definitely want to see more tournaments there, whether it's charitable, regional or invitational," she said.
PGA events are unlikely in part because the course has limited visibility for spectators, she said.