• Fund Capital Projects
    Member Dues Stay the Same
  • Pay Off All Club Debt
    Never Assess the Members
  • We Operate Your Club
    You Preserve Your Club's Culture


Today there are some 3,300 private-equity, member-governed private clubs in the U.S. Experts agree: More than half are carrying dangerous levels of debt. That debt makes capital reinvestment challenging. Without reinvestment, clubs struggle to keep members and compete for new ones. In the face of these challenges, hundreds of clubs have transitioned to non-equity status in recent years.

Why? Because recapitalization through a well-funded partner like Concert Golf addresses the underlying problems:

  • Member assessments - These are done away with under our model. Concert Golf funds all capital expenditures.
  • High debt levels - Mortgage debt is eliminated, as part of the transaction. Concert Golf will retire your club's debt.
  • Deferred capital projects - Because funding is no longer tied to assessments or borrowing, there is no reason to defer the improvements that clubs must undertake to keep and compete for members. We fund these capital projects now.
  • High dues - Many equity clubs simply assess members over time, via special dues or monthly dues increases. The Concert Golf model eliminates this funding mechanism, keeping monthly dues at normal, market levels.
  • Inefficient decision-making - Rare is the equity club Board that boasts any real hands-on operating expertise in the private club sector. Managing anything part-time, by committee, is difficult... Concert's team of industry-specific professionals works 24/7, all year long, to manage the day-to-day operations and provide continuous capital project reserves.

Subscribe to our mailing list

* indicates required
Email Format:        
Member-Owned Equity Private Non-Equity
Debt Yes
Debt service drains cash for capital projects
Club is debt-free
Assessments Yes
Can cause member attrition
Covenant prohibits member assessments
Capital Improvements Funded by assessments
Long-term plans sometimes deferred
Funded by owner-operator
Immediate multi-million dollar projects
Private Yes
Yes, but pressure to accept outside play
Covenant ensures private club status
Dues Sometimes above-market Market-rate dues
No other surcharges
Refunds Often promised
But often not sustainable
Restructured or eliminated
Priority is capital projects and debt-free
Governance Member managed Managed by owner-operator
Member Advisory Board provides guidance

Hear Peter Nanula on Private Club Radio

  • Peter Nanula: Top 10 Myths of Private Clubs
  • Board Chats: Tim Nelson of Blue Hill CC (Boston).
  • Peter Nanula: Golf Isn't Dying, Just Some of its Older Ways.

  • Peter Nanula: Most Private Clubs Need Fresh Equity Capital.

Learn more about Concert Golf Partners and member-owned clubs:

Club Recapitalizations:

Board Insights: