Closing a University Gold Course; Monetizing Institutional Assets

ACADEME BLOG

Writing for Cleveland.com, Karen Farkas reports

“Kent State University is closing its golf course because of declining revenues and increasing operating costs. . . .

The university bought the 18-hole par 70 course on Ohio 59 in Franklin Township, in 1966. The course includes a putting green, chipping area, snack bar, banquet room and pavilion.

“For much of its longevity, the course played an important role in the local golf community – from university and community leagues to a training ground for high school teams,” the university announcement said.

“As the Northeast Ohio golf industry continues to experience financial challenges, the university determined that the Kent State Golf Course could not reverse a five-year trend of declining revenues and mounting operating losses,” the [university’s] announcement said.The university’s budget for the course this year is about $500,000. . . .

“The university assessed the viability of the 40-acre course in response…

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