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Golf Debentures – What Are They and Should You Have One?
In financial terms, a debenture is defined as a long-term financial commitment that is often used by large corporations as well as governments as a means of raising funds. Debentures are also often called stocks or bonds and are similar to bonds in that the party issuing the debenture or bond actually owes a debt to the receiving party. Debentures differ from bonds in that they are not secured on a specific asset, whereas a bond can be secured on something of greater financial interest in terms of the security offered in exchange for the debt.
In the case of large corporations, debentures may be issued to raise funds for the purchase of new premises or to undertake major works, particularly in the cases of sports and the arts in which the debentures have been used with great success in contributing to sports venue construction acquisitions. The Wimbledon Tennis Club, for example, introduced debentures in the 1920s to be able to purchase the current famous site of SW18 and currently operate a structure involving the purchase of debentures every 5 years. A more recent example would be the huge arena that is the new Wembley Stadium which was not built without the help of sold debentures.
Those who hold debentures are then entitled to benefits such as the availability of the best seats on center court during the period of the debenture and a number of large venues popular for concerts, football and tennis matches offer debentures .
Debentures are generally transferable and the owner has full rights to sell the debenture for a profit, for this reason you would see debentures for popular venues sold for large sums. The advantages are of course that debentures are not pledged to assets and therefore impose no additional burden on the assets of the issuer, but rather provide privileges or rights to the owner.
With regard to golf debentures, they are essentially shares of the golf course which are available to all and provide owners with specific privileges and rights on the golf course with respect to prizes and play. real against non-debentureholders. For example, cheaper or even free green fees for a fixed period or term of the debenture can be offered and it is often found that golf clubs offer debentures and the holders are called members.
It is therefore not surprising that golf debentures are also a popular method of raising funds among developers of residential complexes located around golf resorts. Polaris World, for example, which is said to be the largest developer of residential tourism in Europe, is currently building a number of residential complexes in the region of Murcia in southeastern Spain and has introduced golf debentures in November 2007. There are currently a number of resorts under construction and some already played.Together the total number of 9 golf courses which are designed by the famous Jack Nicklaus and his company Nicklaus Design, will be known as Nicklaus Golf Trail and Golf Debentures entitle the holder to preferential rates on green fees for the first two years of the 25-year debenture as well as reduced rates.
Golf debentures are not cheap, however, and as they pass over to the resale market, they can cost upwards of EUR 40,000, as seen in the case of another popular development in the area, the La Manga Club which is also famous for other sporting venues and activities. If you are an avid golfer and live in a residential complex where you have endless golfing opportunities, a golf debenture may be just what you need.
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