RINER — The future of the Auburn Hills Golf Club remains unknown as of this past week.
Club owners Danny and Martha Thompson announced about a month ago that they planned to put the course up for auction — unless members of the community pledged to buy 98 of 140 shares in the property by this past Friday.
On Thursday, however, Martha Thompson declined to say whether the sale of the shares — valued at $10,000 each — was a success. She said she and her husband will announce the news on the course — but did not specify when.
“In the meetings, we said we would not give out the number of shares that were sold,” she said.
The Thompsons — under a firm called Tee Up LLC — bought the course for $744,242 during the summer of 2016.
A sale of the course this year would put the property under new ownership for the third time in six years.
The Thompsons said they have been paying $109,000 a year toward a note on the course. The club’s overall membership has also grown since the couple took over.
The club’s owners said the challenge has been having the funds to also make routine capital improvements.
The owners previously said that a sale of at least 98 shares would clear the debt on the course and provide the financial cushion needed to keep the property a golf club.
The owners planned to hold on to the remaining 42 shares, but still made them available for purchase.
Danny Thompson previously said that he’ll turn over management of the property to a board of directors if the shares sale resulted in him owning less than 10% of the total shares.
The course currently has 170 golf and 100 pool memberships, according to information provided by the club. Additionally, roughly 30 homeowners in the Auburn Hills golf community have a golf or pool membership.
In contrast, the club had 150 golf and 70 pool memberships in 2016 when the Thompsons bought the property.
Thompson, however, first got involved in the course’s ownership in 2013 when he and Phillip Nolen — under a firm called Fore LLC — bought the course for $1 million.
Prior to that partnership, the course was under another company headed by John Sutherland.