Reports state that Celtic legend Dermot Desmond is heading a “band of rebels” following a major dispute over membership dues for a new irrigation system at an ultra-exclusive golf club.
The Irish millionaire belongs to Queenwood, a golf club that counts golfing greats Rory McIlroy, Justin Rose, and Ernie Els among its members. Annual dues are £13,000, plus an extraordinary £175,000 for a club stake and a one-time “playing privilege fee” of £48,000.
The Times claims that despite the wealth of the members list, a dispute has arisen regarding a fee of £1800 plus VAT that Surrey Club chairman Gerard Tvedt wrote to members in January, stating that it was necessary for a new irrigation project that would cost £3.4 million in total and guarantee the lawns, greens, and fairways are maintained to their customary standard.
According to the story, Desmond is the one spearheading the battle. The statement reads, “In this context, an extra £1,800 a year for a new irrigation system might have seemed like a trifling amount,” in reference to the money that is circulating. Rather, it incited a fierce argument between Queenwood and its constituents. Under the leadership of Irish millionaire Dermot Desmond, a number of rebels besieged the board, demanding explanations regarding Queenwood’s finances and modifications to the organization’s operations.
In an attempt to diffuse the situation, its 80-year-old founder, Fred Green, traveled to the UK this past weekend for crisis meetings with members. He made the commitment to hear from anyone “who would like to exchange information and express their views on the current dialogue that has consumed so much energy.” A unique look into the world of affluent luxury golfers and the tremendous emotions it stirs up in them is offered by the spat.
The dispute escalated when member Aidan Heavey, the founder of the massive energy company Tullow Oil, examined the financial statements and sought legal counsel over a potential management change. As a result, his membership was revoked. And that’s when it’s said Desmond intervened. “Then Desmond swung into action on the rebels’ side,” the report claims. The 73-year-old, mustachioed former owner of London City airport sent an email to the board, citing the directors’ attempts “to bully and intimidate anyone who dares to raise legitimate concerns” and copying all 400 Queenwood members in the process.
Thirty-seven people, including former McLaren manager Ron Dennis, former Liverpool FC captain Jamie Redknapp, and former Chelsea FC striker Andriy Shevchenko, co-signed his note. The statement concluded, saying that “the integrity and standing of the club will be profoundly and permanently compromised if we do not stand united against this Putinesque regime.” With 34.64% of Celtic’s shares, Desmond is the company’s greatest stakeholder since the beginning of the century and is listed as the ninth richest man in Ireland. “My father grew up a huge Celtic fan,” his son Ross stated at the club’s AGM the previous year. We see ourselves as stewards, not as shareholders. We will not sell the club in his or my lifetime.
Get related news on
sportchannel.co.uk
Leave a Reply