Members at Wentworth Golf Club in Surrey are facing an almost 50% increase in their annual membership fees, following the announcement that the club’s new Chinese owner is to invest over £20 million in renovating the facilities at the Virginia Water-based venue.
From April 2017, the annual membership fee is to be raised from £8,000 to £15,000, while in the same time frame all new members will have to pay a one-off joining fee of £125,000, on top of the annual subscription.
Existing members have also been asked to pay £100,000 if they want to continue their membership.
The significant increase in fees comes in the wake of an announcement that the Chinese-owned Reignwood Group, which bought Wentworth from Richard caring in September last year, is planning to invest over £20 million in renovating the club’s three 18-hole courses – West, East and Edinburgh – as well as improving the off-course facilities.
The new fee structure would make Wentworth the most expensive golf club in the UK.
The club’s management informed members of the new fees at a special meeting held at the club on October 20. One member, James Wyatt, said there was some confusion over whether the £100,000 payment would be a debenture – a loan without interest – or simply a one-off payment to the owners. Speaking to the BBC, Mr Wyatt said: “Money needs to be put into the club, and the money needs to come from somewhere, but we’ve now found out that the money is coming from members’ pockets.”
Long-time member Sir Michael Parkinson described the new membership fees as a ‘cull’, while BBC golf commentator Peter Alliss, who is also a member, said the debenture plan was ‘an extraordinary step given that there are very few people who have £100,000 to piddle away on their pleasures’.