Discussion in 'University of Colorado News and Olympic Sports' started by Del, Feb 15, 2012.
Does that mean CU could lose that golf course along with the facilities that were built there?
I don't think anyone knows yet. They have a contract through, like, 2038. But if he is forced to sell, who knows?
Selling a company doesn't void contracts.
It does void stupid contract that didn't include the boilerplate clauses about surviving a change in the company's name, structure or ownership.
CU paid for the new golf facility that was built so they own that building. I believe the course itself was placed into some type of trust for the rebranding to Colo National.
As far as future ownership, while the principal owner might change, there should be no change to any of the agreements with CU. Of course when you are dealing with the IRS anything can happen.
Maybe stupid questions but...
Does the golf course go into some type of foreclosure situation?
How much would a golf course like this cost?
Could CU just buy it?
Not stupid questions at all. 1) that depends on whether he's able to pay his taxes or not, I suppose. 2) Hard to say, it's based on the revenues generated, and I have no idea what kind of revenues the course generates. 3) Sure, but that has complications as well.
Sound like we better start an AllBuffs collection ASAP! Who wants to own a golf course?
me me me me me!
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