WATERTOWN, NY — Michael E. Lundy, Lundy Development and Property Management, closed on the sale and purchase of the assets of the Watertown Golf Club Inc. yesterday (December 19, 2018).
The sale makes Mr. Lundy majority owner of the stocks of the corporation. The stock sale also includes his sister Colleen A, Lundy owning 10% of the shares, resulting in the two combined to own approximately 90% of the overall shares. After the Clubs’ season closed on October 15th , the last two months were
spent finalizing the books, agreeing to payment of bills and transfer of assets.
“We were just waiting for the necessary review and process to be completed and all has been completed,” stated Mr. Lundy. “All of the stocks have been paid out to the appropriate parties, the bills paid, and paperwork signed. So, it is official.”
Mr. Lundy will announce more detailed plans shortly, but fully intends to keep the Golf Club as an 18-hole course at this point and is planning dramatic improvements such as a new clubhouse, pro shop and an event center.
