News
Justin Timberlake loses millions on golf course sale
Justin Timberlake is one of music’s biggest money makers on stage, with an estimated net worth of $175 million, but he took a billboard-sized hit on the sale of his hometown golf course.
Timberlake, who is also a 3-handicap, bought the Mirimichi Golf Course in Memphis with his investment group in 2007 at auction for $880,000. The group then spent roughly $16 million on renovations on the course to make it both beautiful and eco-friendly, which brought accolades from Golfweek — Mirimichi was named one of the “best courses you can play” by the magazine in both 2013 and 2014.
[youtube id=”kAl_Z_GNHYs” width=”620″ height=”360″]
Last week, the singer, songwriter, actor and pop-superstar sold it for a mere $500,000 to Fred Edmaiston, Memphis businessman and CEO of Aircon Corp., which was confirmed by public deed of the property sale.
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Tour Photo Galleries
Photos from the 2024 Zurich Classic of New Orleans
GolfWRX is live on site this week at the Zurich Classic of New Orleans for the PGA Tour’s one-and-only two-man team event.
As usual, general galleries, WITBs, and pullout albums — including some pretty spicy custom putters and headcovers — await your viewing.
Be sure to check back for more photos from the Big Easy, as we’ll continue to update this page with additional galleries throughout the week.
General Albums
- 2024 Zurich Classic – Monday #1
- 2024 Zurich Classic – Monday #2
- 2024 Zurich Classic – Tuesday #1
- 2024 Zurich Classic – Tuesday #2
WITB Albums
- Alex Fitzpatrick – WITB – 2024 Zurich Classic
- Austin Cook – WITB – 2024 Zurich Classic
- Alejandro Tosti – WITB – 2024 Zurich Classic
- Davis Riley – WITB – 2024 Zurich Classic
- MJ Daffue – WITB – 2024 Zurich Classic
- Nate Lashley – WITB – 2024 Zurich Classic
- James Nicholas – WITB – 2024 Zurich Classic
- Kevin Streelman – WITB – 2024 Zurich Classic
- Rasmus Hojgaard – WITB – 2024 Zurich Classic
- Tom Whitney – WITB – 2024 Zurich Classic
- SangMoon Bae – WITB – 2024 Zurich Classic
- Daniel Berger – WITB – 2024 Zurich Classic
- Rory McIlroy – WITB – 2024 Zurich Classic
- Russ Cochrane – WITB – 2024 Zurich Classic
- Aldrich Potgieter – WITB – 2024 Zurich Classic
Pullout Albums
- MJ Daffue’s custom Cameron putter – 2024 Zurich Classic
- Cameron putters – 2024 Zurich Classic
- Swag covers ( a few custom for Nick Hardy) – 2024 Zurich Classic
- Custom Bettinardi covers for Matt and Alex Fitzpatrick – 2024 Zurich Classic
- Doug Ghim’s custom Cameron putter – 2024 Zurich Classic
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News
Morning 9: Tiger’s TGL teammates | Woosnam’s criticism of Cantlay | Rory’s return to tour policy board
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News
Tour Rundown: Six-pack of tourneys follows Masters
Brazil and Texas were kindred souls this week, at least when it came to weather. Both regions experienced torrential delays, and three tournaments were held up. The LPGA, PGA Tour Americas, and PGA Tour Champions were compelled to reduce play or work extra holes into Sunday. As if that weren’t enough, South Carolina and the PGA Tour fell victim to nature’s wrath, with lightning postponing the conclusion of the event to Monday.
The year’s first women’s major championship was celebrated in Texas. The Chevron is gaining a bit of tradition in its second year after relocation. This year’s event culminated in the continued coronation of the game’s current best. The Korn Ferry Tour saw a top-twenty performance from a 15-year old amateur, while the second event of the week on the big tour found a winner in the Dominican Republic. Six events is more than a handful, so let’s get right to it, with this week’s (delayed) Tour Rundown.
LPGA @ Chevron Championship: Korda corrals second major title
The winter of 2022-2023 seems so distant for current Nelly Korda. A mysterious ailment sapped all of her energy, just as the world appeared to have finally emerged from the pandemic. We never quite secured the complete information that we desired, but no one can say that any of us deserved to know more than Nelly wished to share. One thing is for certain: Nelly Korda has returned to top form, and the world number one golfer is at least one level above anyone else on tour.
Korda began her 2024 campaign with a January victory in the Drive One Championship. In her next start, in March, she continued her assault on the record books, with a win at the Se Ri Pak. She won again the following week, at the Ford, then defeated Leona Maguire in the final match at the T-Mobile Match Play, for a fourth consecutive victory. Would the increased hype around a major championship have an impact on her game? Well, no.
Korda began play at the Chevron Championship with a score of 68. She trailed Lauren Coughlin by two after 18 holes, but caught her with a second-round 69. Coughlin would ultimately tie for third spot with Brooke Henderson. Henderson played with Korda on day four, but the middle third of the round was her undoing. Making a late move was Maja Stark. House Stark closed with birdies at 17 and 18 to reach 11 under par. Both Korda and Strak played the final three days in identical numbers: 69 each day.
Korda held a firm hand on the tournament over the course of the final day. She stood minus-four for the round through ten holes, before a bit of sloppy play made things competitive again. Bogeys at 11 and 15 opened the door a wee bit for Stark. Korda was equal to the test, however, and closed stylishly with birdie at 18.
Safely around the green on the 72nd hole
Watch @NellyKorda‘s historic finish now on NBC! pic.twitter.com/1zaAYtbaCz
— LPGA (@LPGA) April 21, 2024
PGA Tour 1 @ RBC: Scottie, so hottie!
Nelly isn’t the only golfer on fire, although Scottie Scheffler still has a ways to go to match her. Scheffler proved this week that he has a game for all courses. After winning comfortably at lengthy Augusta National, Scheffler shifted gears and game to the wee Sea Pines course, and won again. That’s two weeks in a row for the man from New Jersey/Texas, so let’s learn how he did it.
Scheffler totaled 69 on day one, and found himself six shots behind leader J.T. Poston. Scheffler revealed that his teacher, Randy Smith, would tell him that he didn’t need to be the best 15 year-old; just the best 25 year-old. It was easy, then, to play the long game and consider all 72 holes, instead of just 18. Scheffler improved to 65 on Friday, and then went even lower on Saturday. His 63 moved him to the top of the board, and caused the golfverse to wonder if Scheffler would win for a second consecutive week.
Sunday saw all the chasers fall away. Scores between 70 and 72 from Patrick Rodgers, Collin Morikawa, and Sepp Straka meant that others would need to seize the day, if Scheffler were to do more than coast. Wyndham Clark and Justin Thomas each moved inside the top five with fourth-round 65s, but no one ever got close enough to the world number one. The win was Scheffler’s 10th on tour, and made him the betting favorite for next month’s PGA Championship at Valhalla.
Scottie Scheffler can save par from just about anywhere.
Including the water ?
(Presented by @CDWCorp) pic.twitter.com/RUqL2sBrr9
— PGA TOUR (@PGATOUR) April 22, 2024
PGA Tour 2 @ Corales Puntacana: Baton Boy claims 8th Tour triumph
If you’ve ever seen Billy Horschel toss a club, you know that he doesn’t do so in anger. More likely is a calculated, soaring arc, paired with a look of fractured disbelief, followed by a quick catch of the cudgel. Ergo, Baton Boy. This week on the island of Hispaniola, the native of Grant, Florida, outworked and outhustled everyone else on Sunday. Horschel gathered seven birdies and an eagle, on the way to a 63 and a 23-under par total.
The former Florida Gator zipped past the four golfers in front of him, and left the remaining field in the rear-view mirror. Horschel’s round was two shots better than anyone else, and moved him two shots ahead of third-round leader Wesley Bryan. One of the famed Bryan Brothers, Wes closed with birdie at the last to post a 68 that would have won the week on any other day.
Walking it in with a fist pump ?@BillyHo_Golf is 9-under on the day and leads by two @CoralesChamp. pic.twitter.com/N6rjL1GGGA
— PGA TOUR (@PGATOUR) April 21, 2024
Korn Ferry Tour @ LeCom Suncoast: It’s Widing in extra holes
Miles Russell probably won’t have to serve detention for ditching class on Thursday and Friday. The high school freshman made his KFT debut, survived the 36-hole cut, and toyed with a top-ten finish. He ultimately tied for 20th at 14-under par, six shots behind the three co-leaders. My guess is that Epstein’s Mom will write him a note, and he’ll get a pass. By finishing top-25, Russell earned a spot in next week’s event. Yikes!
Back to the top of the board. Patrick Cover, Steven Fisk, and Tim Widing all found their way to the magic number of -20. Fisk made birdie at the last, after bogeys at 16 and 17. Cover had three bogeys on the back nine, but a birdie at 14 was enough to get him to overtime. Widing was plus-one on the day through four, but played interstellar golf over the final 14. Six birdies moved him from Russell-ville to extra time.
The trio scurried to the 18th tee, where Cover drove into a fairway bunker. He was unable to reach the green with his approach, made bogey, and exited the overtime session. Widing and Fisk returned to the final deck once more, and matters were resolved. Fisk was unable to convert a long par putt, and Widing (pronounced VEE-ding) tapped in for his first KFT title.
The feeling of relief when you know you won. ???
Tim Widing is now a champion on the #KornFerryTour. pic.twitter.com/K0vgiZ21UG
— Korn Ferry Tour (@KornFerryTour) April 21, 2024
PGA Tour Americas @ Brasil Open: Mr. Anderson finds a way
Golf is a funny game. Matthew Anderson held a lead with one round to play. He made six pars on Sunday, and sprinkled the rest of his card with birdies and bogeys. In complete contrast, Ollie Osborne played consistently on the day, posting four birdies and zero bogeys. Connor Godsey was not far off Osborne’s pace, with seven birdies and but two bogeys on the scorecard. So, of course, Matthew Anderson won by a stroke over Osborne and Godsey.
Not how, but how many, is another one of those platitudes that we all learn early on. Despite five bogeys through his first 14 holes, Anderson summoned the defiant grit to make birdie at the 71st and 72nd holes. After making deuce at the penultimat hole, Anderson’s swerving effort at the last looked as if it should miss low, but it had enough pace to stay inside the hole and fall for a closing four at the par-five finisher.
Birdie-birdie finish to secure the ?
Mississauga-native Matthew Anderson is your 69th ECP Brazil Open Champion. pic.twitter.com/ONE8hIUjeS
— PGA TOUR Americas (@PGATOURAmericas) April 21, 2024
PGA Tour Champions @ Invited Celebrity: Broadhurst stands tall
What do you call a tournament that begins on Friday, takes Saturday off, and finishes on Sunday? Fortunate is one adjective to use. A weather system moved through Texas this weekend, and made a mess of things in Irving. After Thomas Bjorn signed for 64 on day one, rain and all things counter-productive moved through the Las Colinas resort, ensuring that Saturday would be nothing more than a rest day. When Sunday arrived, conditions had improved, and the game was on. Bjorn was unable to preserve his Friday magic, although he did record a 70 for -8. He finished in a third-place tie with Y.E. Yang.
David Toms, the 2001 PGA Championship victor, presented Sunday’s low round, and moved to 10-under par. Toms made one mistake on the day. He lived in the rough on the 9th hole, ultimately making bogey. The rest of the day was immaculate, as seven birdies came his way, resulting in a six-under par 65. Only one golfer was able to surpass Toms, and that was Paul Broadhurst.
Broadhurst nearly matched Toms for daily honors. His mistake came early, with bogey at the second. He bounced back with eagle at the third, and added three more birdies for 66 and 11-under par. Over his first three seasons on the Tour Champions, Broadhurst won five times, including two major titles. His fifth win came in 2018, making this win his first in six years. A long time coming, for sure, but well earned.
Looking at the hole is working for @PBroadhurstGolf ?
He leads by one after a clutch birdie on 15 @InvitedCC. pic.twitter.com/S0rhcVwaeE
— PGA TOUR Champions (@ChampionsTour) April 21, 2024
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Mike Bodnar
Nov 13, 2014 at 7:56 am
I love the way people use the term “write-off”. I realize that Justin Timberlake is worth millions, and there is surely more to the sale than the straight $500,000 public deed price, but I assume that they do realize that a loss is still a loss. So he reduces his tax burden next time by loosing “X” million on this deal…wow…guess he really didn’t lose it, huh? Take that, rich guy!
Chase
Nov 11, 2014 at 6:02 pm
Tax write off! I’m glad he bought the course and re-did it. It’s a fabulous place to play. Here-say it was costing him 400,000 a year to maintain it. He may lost a little but it wasn’t much. Everyone in this area is pretty appreciative he did what he did with the course. Most of the public course have closed in this area. As far as losing 16,000,000 he dug that out of his couch.
William
Nov 11, 2014 at 12:10 pm
I wonder if this loss was as much as he gave to Obama at the fundraising he held for him?
This is a golf blog
Nov 12, 2014 at 2:46 pm
Of course there are public records of campaign contributions, so you don’t have to wonder that. But, if you were committed to intelligent thought about politics you probably wouldn’t be the type of guy that takes shots at the President on a golf blog. Head back to Brietbart or Fox News and keep your politics off my golf.
AllBOdoesisgolf
Nov 13, 2014 at 2:32 pm
actually. his comments are pretty fitting since his enema has played over 200 rounds of golf… and counting.
Joe
Nov 11, 2014 at 11:27 am
People aren’t going to pay more for a golf course that is environmentally friendly, over one that isn’t. There is no way to justify the added costs, especially when the acheivements are not valued by the consumers.
marcel
Nov 11, 2014 at 12:22 am
its a normal investment write off. so hes investment group have $16m to write off against profits they made so would not be losing much.
lol_golfwrx
Nov 11, 2014 at 8:25 am
Really with this article? Please just do a tiny bit of due diligence…
Fsubaseball21
Nov 10, 2014 at 8:17 pm
Im a golf professional. Our industry is stagnet at best. Try going into a bank and getting a loan for anything golf related. The meeting is over the second the word golf comes out of your mouth. $500k would be a realistic if the buyer assumed existing debt. I don’t think it would be enough on a clean short sale.
B
Nov 10, 2014 at 8:13 pm
Good Lord people – there is FAR, FAR more to this story, but this brief article does not even mention the likelihood of such. Even a 12 year-old newspaper boy knows that 300 acres of prime golf course or residential/commercial building land does not sell for only $1,666 per acre. There is a mega amount of off-book ‘consideration(s)’ [monetary, or monetary equivalent] for this property that has not come out yet…but news of it eventually will come out.
BigBoy
Nov 10, 2014 at 5:52 pm
Justin came to South Australia thinking he could walk on to the Royal Adelaide Golf Club, a Alistair McKenzie gem, nope was the answer, there are other courses in this city that will accommodate you…haha, bye bye Justin.
Mikec
Nov 10, 2014 at 9:34 pm
So…What?
Bobby Bottleservice
Nov 11, 2014 at 7:28 pm
cool story bro
MHendon
Nov 10, 2014 at 4:53 pm
Good lord I just watched the fly over of the course. That thing is a beast and an example of how not to design a golf course if you want much play. Long forced carries, water in play everywhere, trees, tall fescue and natural areas. I’m a 1.5 and would only want to play that course when my swing is grooved. I can’t imagine your average 15 plus on that course. Talk about a frustrating round.
Rich
Nov 10, 2014 at 6:01 pm
I think it’s a good example of playing from the right tee box. If higher markers played this from the tips, I think you’re right. But if they played it off forward tees, it would be an enjoyable round if they weren’t totally out of form. Looks like a cool course. I’m an 8.5 and it wouldn’t scare me off.
Kyle
Nov 10, 2014 at 6:10 pm
Speak for yourself. I’d rather play a really hard course than an easy course.
ron
Nov 10, 2014 at 4:52 pm
On a side note, Thats a really nice looking course! Im sure we’ll see more drone flyover vids soon.
Pat
Nov 10, 2014 at 3:36 pm
I never feel sorry for these celebrities that lose money on business deals. They can afford the hit. He obviously bought the course to boost his ego and tell his buddies that he owns a golf course. This is just karma taking effect as celebrities almost never have to pay full retail for anything. Most of the time they obtain their possessions w/o having to pay a dime or at a deeply discounted rate as long as the individual on the other end gets an endorsement/exposure from the celebrity. Also, spending 16 million in repairs/restoration was far from a smart investment.
KK
Nov 10, 2014 at 6:16 pm
How would you feel if third world citizens wished you got your karma for being a spoiled and entitled citizen of a developed country?
Pat
Nov 11, 2014 at 7:57 am
You guys are hilarious. I bet your the celebrity slurpers that kneel at their presence or are in awe when you see one on the street. Got news for you. I’ve been around celebrities. My country club, El Caballero has a bunch of them. Most of them are arrogant, and self entitled and full of themselves. Also, Timberlake investing 16 million into his golf course isn’t him doing a selfless act for golf like you make it out to be. Profits were to be made and he poured the funds in so he could eventually cash in. Like most celebrity ventures, he fell flat on his face and nobody should feel sorry for him because he has all the money in the world and then some.
Sunny
Nov 11, 2014 at 11:15 am
Lol ur girlfriend must’ve left u for a one night stand with Justin Timberlake or somethin. Ur so mad at him for no reason
Me Nunya
Nov 11, 2014 at 5:15 pm
Y so mad tho?
John B.
Nov 10, 2014 at 6:39 pm
What karma is involved? He tried to grow the game and beautify a golf course. Seems like pretty good karma to me. Okay, it may have failed but be grateful he went all out and spent the 16 million. He’s done more for the game then you ever have.
marcel
Nov 11, 2014 at 12:23 am
all in the books as write off so probably no taxes for few years. smart ppl dont lose money
Chris
Nov 10, 2014 at 3:29 pm
500k? Are you kidding?! The house across the street from me in California just sold for 490k and My neighborhood is nothing special. Lol
Jeff
Nov 10, 2014 at 3:07 pm
Dudes got 200 million dollars, maybe he planned on spending some to restore a great course, but now that it’s done, doesn’t want to manage the day to day operations.
Chris Kirkpatrick
Nov 10, 2014 at 2:54 pm
$550,000 on paper maybe
Just like when people sell a car
Bill of sale says $100
Price was $5,000
Rich
Nov 10, 2014 at 5:49 pm
Good call. I think you’re spot on.
Jeff B
Nov 10, 2014 at 1:34 pm
Justin’s a good guy from what i can tell. Shame he lost money on it.
West
Nov 10, 2014 at 12:16 pm
I’m not sorry some multimillion dollar pop star lost $$$ to a savvy businessman. If anything, it has helped the local economy and will help give golf another gem to help promote the game. Win for the people and for golf. I just hope this is not some doomsday “sign of the times.”
Albert
Nov 10, 2014 at 12:12 pm
Played there this summer and the course was in awful shape. It was obvious at the time that several areas of the course had been given up on.
bainz
Nov 10, 2014 at 12:09 pm
Why sell at that price after all that investment? Unless its going down as a tax loss?
scott
Nov 10, 2014 at 12:09 pm
There has to be more to this story than that. Selling for $500,000 does not make any sense.
Golfpunk
Nov 10, 2014 at 12:40 pm
It makes sense when it is losing so much money each year on operation costs. Sounds like he’s pretty much just paying for the value of the land.
MHendon
Nov 10, 2014 at 2:15 pm
I would say that’s a spot on analysis of what’s probably happened. Two of my local public courses have been bought by a golf management company running them on shoe string budgets just to stay in business and one of our private clubs has recently gone up for sale.
tom stickney
Nov 10, 2014 at 11:59 am
It’s a shame he lost so much money there…we played the old layout every week in qualifying in college…never saw the new one but friends said it was an unreal change. Sorry he lost so much money but I do know everyone appreciated his vision.
Tyler Elton
Nov 10, 2014 at 12:39 pm
Is it possible that he wanted to create the course as a way to give back to the game, the environment and the community and sold it so cheap because he knew the person he sold it too? Surely it is worth more than that. Could there be an underlying reason?
Carl truitt
Nov 10, 2014 at 4:15 pm
There is more to the story. The deed does not necessarily reflect the business venture, or the equity position of the shareholders. The only news here is that it sold on paper for 500k. The deed could have said $1. There really is no difference.
Everyone thinks this guy is heading to the poor house…if it was a no name investor there would be no story.
Kudos though for puking out what has already been floating around the regional business journal for a while.