Sapphire Mountain Golf Course For Sale-Now in Bankruptcy

Pre-Foreclosure for Sapphire Mountain Golf Course in Western North Carolina.  The latest news!

Formally the Sapphire Mountain Golf Course, now Sapphire National Golf Course. Sapphire National Golf Course is one of the only public golf courses in the Western North Carolina mountains, specifically the Cashiers, Highlands exclusive resort community.

For additional information on the golf course please call 813-784-7744

The latest news posted in the Crossroads Chronical Newspaper in March 2010:

Sapphire National LLC, which includes Sapphire National Golf Club was placed in Involuntary Bankruptcy Chapter 11 by its creditors on March 22-23. The course and adjacent Sapphire Brewing Company remain open and according to co-managing partner Craig Shatto, the struggling business needs local support now more than ever to survive.

More History:


This was an orignal article published in the local newspaper in 2007 explaining the improvements that were going to be made by current owners who now have the course for sale.

By Kelly Donaldson, Editor
The Sapphire Valley Master Association voted 7-0 to approve the plans for the future of the golf course.
"A lot of hard work went into this project over the last 100 days and we were very pleased with the turnout and support that we had from the community and master board," said potential new buyer Shatto. "We're looking forward to the restoration of the golf course and enhancing the play. In doing so, working with the community and all its members on activities and other events."

"I believe it's a win, win, win for everybody," said Mays, the current owner. "It's a great thing for the community. It's a great thing for the golf course to stabilize and make a community that we all want."

Some of the details revealed at last Tuesday's meeting were that over $1.5 million would be spent on golf course improvements over the next year. There are plans for new clubhouse facilities; to honor special annuals and Sapphire amenity holders; first of right refusal and option for SVMA to purchase the course prior to year 2011; small development around the course involving a possible Inn, restaurant, spa, condos or timeshares, and overall improvement of the property."The whole deal is on go," said SVMA board member Jack O'Connell. "What they presented to us, the entire board took a vote and voted 7-0 to proceed with it. We told them we'd cooperate any way we could, within reason. "We the people that came to the meeting if we should proceed, and everyone agreed we should," added O'Connell. "Not one person raised their hand and said we shouldn't. It's for the good of the area and to see if we can make it better."

One noteworthy detail from the public hearing was speculation that litigation by both parties could be exonerated, meaning ongoing legal battles between current owner Danny Mays and the SVMA will end, paving the way for a fresh start for the new owners and the SVMA.

"There's definitely a possibility of that happening," said Mays. "That would be another win for everyone involved." O'Connell also agreed that the lawsuits may be dropped. "I understand that is the way it is, that all the lawsuits are to be dropped," said the board member. "But I can't speak for other people as far as the board is concerned."

The new buyers intend to have a "meet and greet" party sometime in mid-October to present their plans regarding golf course renovations and development, as well as to receive overall feedback from the players and owners. "We'll be discussing the restoration," said Shatto.

The first public meeting was held on July 9, also at the Sapphire Valley Community Center, where about 250 people attended and listened to the potential new owners' introduction and overview of plan.

Overall, O'Connell said changes at the course were almost necessary for progress. "Not to go forward is to go backwards," said O'Connell.

Sapphire golf course for sale again-Cashiers, NC

For sale again! Formally the Sapphire Mountain Golf Course, now Sapphire National Golf Course. Sapphire National Golf Course is one of the only public golf courses in the Western North Carolina mountains, specifically the Cashiers, Highlands exclusive resort community.

For additional information on the golf course please call 828 226 8837

This was an orignal article published in the local newspaper in 2007 explaining the improvements that were going to be made by current owners who now have the course for sale.


Sapphire golf course to change owners
By Kelly Donaldson, Editor
Posted: Wednesday, Jun 20, 2007 - 03:16:38 pm EDT

Sapphire Mountain Golf Club is under contract to be sold to Craig Shatto and his business partner, Roy A. Gaddey Jr., hopefully improving not only the course and its facilities, but also the struggling relationship between the course and the Sapphire Valley Masters Association (SVMA).



Current owner Danny Mays said he submitted the paperwork to the SVMA on Thursday June 7, giving the SVMA 10 days to accept or deny the sale, or perhaps even make a counter offer.

"The 10-day period has expired," said Mays, pointing to June 17 as the expiration date. "They did not respond, so it's under contract and going through the study period."

Mays said the earliest the deal could possibly close would be 90 days from June 7, which would be Sept. 7.

Shatto and his real estate broker for the deal, Bill Kruckenberger of Buyers' Real Estate of Highlands, said they could not legally disclose the purchase price of the property just yet.

Currently, there are two lawsuits pending between Mays and the SVMA, one by each. Within the last week, both Mays and his attorney, Billy Clarke, have claimed that they have filed a third lawsuit against the SVMA. However, the Chronicle has yet to obtain proof of that lawsuit.

"My main goal going into this was to improve the place, which we did," said Mays. "We wanted to leave it better than we found it, which we did. When the buyers solicited me, we wanted somebody to carry on the improvements and they have the ability to greatly improve the property.

"I would hope that the (SVMA) would work better with them than with me," Mays added.

Shatto and Kruckenberger equally reserve hope that new ownership might dismiss some of those issues.

"We're hoping to alleviate that for everybody," said Kruckenberger.

"We're trying to work with both parties," added Shatto. "Our objective here is to be sensitive to the golfers and to the members who are not golfers. There's between 11,000 to 13,000 members. We certainly do not want to cause any uproar. We're not going to make it a private course or anything like that. We want to improve the course and we're looking for feedback from the members to make this course better."

SVMA president Walt Green said the association was under a confidentiality agreement not to comment on the sale itself, but said, "These individuals seem to be cognizant of the community and want to do what's best for the property and its owners."

As for whether Green thinks new ownership could help drop the pending lawsuits, he said, "That has to be worked out. I've not seen any of the materials regarding the sale, but we'd certainly hope the sale could clear up some of those issues."

Mays said, "There's nothing in the sales contracts that will settle our litigation. We have sent written settlement requests to them, (the SVMA) but we got no response."

Shatto said he plans to put a lot of money into the course to make it, "more fun and playable." Among other changes Shatto and Gaddey Jr. are considering are improvements and renovations to the clubhouse, the pro shop, retail items, the pub, and restaurant.

But Shatto reiterated that he wants to do this with input from the SVMA.

"We're trying to say, 'OK guys, stop your fighting.' We're here to try to help one party drop their lawsuit and another party to drop their lawsuit," added Shatto. "Hopefully, we're successful in doing that."

Another of Shatto's goals is to improve property values for members.

"What's happening over there is values are dropping because of the lawsuits and talk of the golf course shutting down," said Shatto about the 148-acre property. "Property values are going to go up and we're deeply committed to that."

The SVMA owns deeded rights that require the golf course to be a golf course, according to Kruckenberger, easing any worries members may have about drastic changes to the course.

"These guys (the potential new owners) love golf, love the golf course, love the resort and Cashiers Valley," said Kruckenberger.

Shatto, 42, has been coming to the Sapphire area since 1991 and lives here part-time. He works in public relations and marketing, with a focus on golf and real estate. Gaddey Jr., is from Michigan and currently lives in Tampa, Fla. He builds and renovates golf courses.

At the next SVMA board meeting on July 9 at 10 a.m., Shatto and Gaddy Jr., plan to make a presentation and are looking for participation and support.

"We just want to give them an idea of what we're thinking," said Shatto. "We are looking for support and participation. We hope to have a good turnout."

For more information regarding Real Estate, and Lots for sale mailto:info@carolinapg.com or call
828 226 8837