Council Fire Club Ownership Transition
Jon Kinsey, a successful developer known for revitalizing projects like the historic Choo Choo complex in Chattanooga, is selling Council Fire Club to its members, marking a significant emotional moment in his career. The residential golf community located in East Brainerd has deep ties for Kinsey, making this farewell bittersweet as he hands over its stewardship.
Kinsey reached an agreement to transfer ownership at an undisclosed price to the club’s membership, who have initiated a campaign to raise funds through equity shares. At a recent equity members meeting, he expressed his happiness about this decision, stating, “You all know this is my baby.” After investing $6 million into the club recently, he realized it was time for the members to take over.
As the managing general partner, Kinsey turned down offers from external golf management companies to allow the members time to organize the purchase. He acknowledged the strong interest in the club but felt selling it to the members was the best outcome. Long-time member Frank Proctor played a crucial role in approaching Kinsey with the idea of a member purchase, leading to a successful agreement.
With a well-coordinated campaign involving meetings and communications, Proctor and team confirmed that sufficient interest existed among members to proceed with a new corporate structure and updated bylaws. Proctor, who will serve as the president of the new board, emphasized his long-term friendship with Kinsey and the desire to keep the club within the community.
The move to let members purchase shares also extends to non-members who can join until equity membership is fully subscribed. Chris DeBusk, the General Manager of Council Fire, expressed excitement about the future and the collaborative spirit of the members in this transition. He highlighted the importance of having dedicated management for continued success.
Council Fire’s history includes hosting numerous prestigious tournaments, such as the PGA Tour’s Chattanooga-Hamilton County Classic and several state championships. As the club looks ahead, retaining its experienced management team remains a priority, allowing the new equity members to benefit from established expertise.
Kinsey looks forward to enjoying his time at Council Fire as a member rather than an owner, reflecting on the remarkable journey he has experienced. He stated, “I’m ready to no longer be responsible for making all the decisions,” signaling a new chapter for both him and the club.
