An ill wind for Graeme McDowell as hurricane hit on Bahamas home costs £440k

In the aftermath, McDowell stated: "It hurts Kristin and I to lose our house but to see people losing their lives down there along with people losing their homes and now not knowing what to do with their lives is an enormous tragedy that we are still trying to come to terms with."

New accounts filed by McDowell's Boyport Services Ltd refer to the hurricane impact, stating that the company's investment property "was completely destroyed by a hurricane".

A note states that the $616,639 exceptional cost relating to the home's destruction "represents the full write-off of all costs of the property, excluding the costs of the land, less insurance received in respect of a related insurance claim".

The exceptional cost contributed to post tax profits at Boyport Services Ltd decreasing by 17% from $1.673m in 2018 to $1.38m in 2019.

The company paid out a dividend of $1.42m in 2019 and this followed a dividend payout of $2.87m in 2018.

At the end of December 2019, the company had accumulated profits of $16.29m while the company's cash increased almost four fold to $2.95m.

On the up to date valuation of the holiday home site, the accounts state that an independent valuer was unable to gain access to the property as it was in a location severely impacted by a hurricane.

The note states that the investment property now comprises of land only.

On the impact of Covid-19 on the business, a note attached to the accounts states that the company had continued to trade satisfactorily albeit at reduced levels.

Over the years, McDowell has invested wisely off the golf course and has opened two restaurants in Florida where he lives.

In early 2013, McDowell opened the upscale restaurant and sports bar, the Nona Blue Modern Tavern outside Lake Nona in Orlando.

In 2016, McDowell opened a second restaurant, also called Nona Blue in Ponte Vedra Beach in Florida just outside the gates of PGA tour headquarters.

Belfast Telegraph