Carnoustie and St Andrews bring in millions

Emma Williams
By Emma Williams November 29, 2016 12:20

The accounts for two Open venues have revealed a healthy state of finances for two major golf course operators.

St Andrews Links Trust, which runs seven golf courses, received more than £20 million in income in 2015, the year the Old Course hosted the Open Championship.

Meanwhile, Carnoustie Golf Links, the charity that runs three courses, had an income of just under £4.44 million in the last financial year.

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St Andrews

For St Andrews Links Trust, the total income of just over £20.6m is an increase of 1.5 per cent on the previous year.

Golfing income made up more than half of the total income, with £11.5m generated throughout the year. Over £7.6m of that total was generated by visitor green fees.

Payroll costs remained the largest component of expenditure for the trust, at £9m.

Carnoustie Golf Links saw a net increase in funds of £195,962, which was in line with budget expectations.

Trustee chairman Patricia Sawers said the charity’s continued success depended on its obligation to maintain the courses to a standard capable of achieving Open Championship status.

The new Carnoustie Golf Links Pro Centre at the Links Pavilion....pics Paul Reid/Angus Pictures

The new Carnoustie Golf Links Pro Centre at the Links Pavilion….pics Paul Reid/Angus Pictures

The championship will return to Carnoustie in 2018, and the event is estimated to generate £140m for the wider community.

“The championship status of our course attracts visitors globally who in turn contribute circa 75 to 80 per cent of our annual income,” she explained.

“At the same time we must look after local players and season ticket holders making golf accessible and available locally.”

The cost of maintaining the Championship, Burnside and Buddon courses was the main outgoing at £3,595,165, representing 84.7 per cent of the total expenditure of £4,243,549.

Expenditure on junior golf was up £23,000 from the previous year, and the organisation delivered a number of charitable donations to local good causes.

 

Emma Williams
By Emma Williams November 29, 2016 12:20
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