Sedgefield Country Club has been sold by its members to McConnell Golf of Raleigh. From the Biz Journal article (subscription required):

Sources did not disclose the amount offered, but it is believed that McConnell will assume Sedgefield’s $2 million debt and invest at least that much in course and clubhouse upgrades.

Sale talk has been extremely heated at Sedgefield, known for its Tudor-style clubhouse, Donald Ross-designed course, rich golf history and being the founding location of the Atlantic Coast Conference in 1953. Older members believed the current debt was manageable and were not eager to cede control of their home away from home. Many such opponents aren’t fans of the Wyndham, either, disliking how it disrupts their access to the club for two weeks a year.

But advocates, including the board leadership and local Wyndham officials, have maintained for months that selling to McConnell could be the last best chance to keep the club not only vital but solvent.

Read more: Sedgefield approves sale of country club | The Business Journal

I'm hoping someone does a case study on the process the Club's board went through over the last year, because I suspect it would be a lesson in how to lead an organization through the process of making a drastic shift in strategic direction due to a changing business/economic environment.