Belfast Telegraph

Belfry golf resort sold for a knockdown price of £90m by jailed Sean Quinn son

By Niall O'Connor

Sean Quinn jnr has been forced to sell off his beloved Belfry golf resort from behind bars.

The former Ryder Cup venue was sold to a US firm last week for a sum believed to be in the region of £90m — less than half of what Quinn jnr paid.

But the under-fire entrepreneur won't benefit from the proceeds of the sale — which will be used to pay off the business's massive debts.

Well-placed sources said that the 33-year-old's legal representatives brought papers into Mountjoy prison for him to formally sign off on the sale.

“It's actually quite easy for lawyers and other parties to visit their clients in Mountjoy, so a meeting would have been set up quite quickly for Quinn to ensure the sale went through,” a prison source explained.

The Belfry, one of the world's most famous golf courses, was put on the market with a price tag of £90m by Bank of Ireland and two other banks.

It has staged the Ryder Cup on four occasions.

Sources close to Quinn jnr said that the Belfry was “one of his most prized assets”, given its reputation as one of the best golf courses in the world.

A family source said: “Of course Sean did not want to sell it and the debt on the business was contested but this backfired. But there was nothing untoward or unusual about the sale. It has nothing to do with Anglo.“

It was bought by US firm KSL Capital Partners for a sum below the asking price, it is understood.

Belfast Telegraph

Daily News Headlines Newsletter

Today's news headlines, directly to your inbox.

Popular

From Belfast Telegraph