Decentralized Autonomous Organization (DAO)-run startup LinksDAO is poised to become the new owner of Spey Bay Golf Club in Scotland after successfully winning a bid to buy a course originally listed for sale for just over $900,000.
After winning the tender, DAO entered into an exclusive agreement with the supplier and intends to officially close the deal in early April.
In the meantime, according to CEO Jim Daly in a March 16 Twitter Spaces tweet, the company is going through a “due diligence” phase before officially going live.
While the initial listing was worth over $900,000, a Golf Digest report says the final sale price is expected to be higher. The CEO of Links Daily stated that they do not plan to disclose the purchase price until the contract is signed.
LinksDAO made the highest offer compared to “several other potential buyers,” the report said.
LinksDAO — a self-proclaimed “global golf enthusiast group” with the goal of building “the greatest golf community in the world” — filed the application following a community vote in which 88.6% of LinksDAO’s 4,300 members voted in favor of listing the proposal.
If the deal closes, the DAO will be the first purchase of the golf course.
The DAO is still “working out the details” of the course’s membership structure and has not confirmed what benefits will be provided to LinksDAO token holders wishing to gain access to the golf course.
As for the state of the golf course right now, Besvinik called it “playable.”
“It’s good, it’s going to get a lot better soon, and we think it’ll be great by this time or next spring.”
If the deal is closed, Besvinik said they will keep the track open until repairs can begin.
Lynx is seeking advice from several architects to remodel the golf course because it has “suffered from weather and erosion in recent decades,” explained head of strategy Adam Besvinik on Twitter Spaces.
“Improved maintenance will elevate this site significantly,” he added.
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The Daily and Besvinick explained in their community offer to buy the course that the ratio of the Scottish course’s high ceiling to low price makes it “too special to ignore”.
“Even a price three times the ‘reference price’ will be cheaper than most of the mediocre courses we’ve evaluated in the US so far.”
Cointelegraph reached out to Links for comment but received no immediate response.
