LinksDAO, a golf startup that operates through a decentralized autonomous organization (DAO), has successfully bid to purchase the Spey Bay Golf Club in Scotland for just over $900,000.
We won the bid.
WE’RE BUYING A GOLF COURSE!!!
— Links (@LinksDAO) March 16, 2023
The Spey Bay course is over 100 years old and was listed for sale at an anticipated bid value of more than £750,000, approximately $910,000. LinkDAO won the bidding process and has now entered an exclusivity agreement with the seller. The transaction is expected to be finalized in early April.
LinksDAO CEO Jim Daily shared in a Twitter Spaces on March 16 that the DAO is currently in the process of conducting its due diligence phase before finalizing the deal. He also said they have no intention of disclosing the purchase price until the contract has been signed.
We’ve entered into an exclusivity agreement to purchase Spey Bay Golf Course on the Moray coast of northern Scotland! Thank you to @GolfDigest for covering the purchase. Read more 👇 https://t.co/rAcfrvJsIe
— Links (@LinksDAO) March 16, 2023
According to a report, the initial listing was priced just above $900,000, but the final sale price is anticipated to be even higher. The report also stated that LinksDAO and its members have prioritized owning their golf property since its inception. Their goal was to locate a course or multiple courses in the United States. However, they found the opportunity to acquire a rare links course in the United Kingdom too appealing to ignore, especially considering Spey Bay’s attractive price relative to domestic possibilities.
Adam Besvinick, LinksDAO’s head of strategy, stated:
“What we’re trying to build is something that bridges an online and offline community of thousands of golfers who are passionate and obsessed with the game in a variety of ways, from architecture to travel to gambling to watching the tour to gear.”
Besvinick further explained that the idea is to generate a distinctive and unparalleled experience on the trail, which is appealing to members and offers a more enjoyable and interactive atmosphere for their community.
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