Owners unlikely to accept bids on Cotton Creek auction

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Cotton Creek Golf Course in Glenpool is likely to remain open after an auction which broke the course into 16 parcels failed to yield the results desired by owners Jeff and Steve Lamoreaux.

The auction was conducted July 27 at Cotton Creek. There were more than 45 bidders and 10 different bidders had the top bids on the 16 parcels. Every parcel had a bid, but Jeff Lamoreaux said the bids were not what the owners were expecting.

"It was mostly bargain hunters looking for property at cents on the dollar," he said. "We will make some counters and we’ll see where we go. For now, we’re open for business, the course is in great shape and golfers are out playing."

The owners have seven days to accept the contracts as is and then closing would typically be 30 to 45 days after that, said John Pellow with Ameribid, which conducted the auction. Jeff Lamoreaux, however, said he expected none of the contracts would be accepted as is.

"It just didn’t go well," he said. "People were not wanting to pay any kind of reasonable price."

While the owners decide their next step after the auction, the course will remain open for business. Cotton Creek is located off Highway 75 about 10 miles south of Tulsa.

 

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Ken MacLeod

Ken MacLeod

Publisher Golf Oklahoma | Oklahoma's No. 1 Golf Source

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