Melbourne Golf Course owner David Tompkins has said he had “no choice” but to close his almighty Lakeview Golf Course because of the lack of funding.
“I’ve got no choice but to shut it down,” Mr Tompkin said.
Mr Tompks, who bought the land at the end of 2016 for $13.5 million, said the golf course was “underperform” due to the state’s “poor financial situation”.
“The amount of debt we have in our bank account is quite significant,” Mr Vliet said.
“The reality is that we’re a large business, we’re well-funded and our debt is less than the state average.”
Mr Vlien said the closure of the golf courses would result in a loss of “significant” revenue for the state.
“We’re looking at a loss,” he said.
“Our business is in the red.
We don’t have enough money in the bank to meet our obligations.”
The state Government has confirmed it has been given a $5 million loan to help fund the project.