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PROPOSED AGREEMENT
Vendor: Indigo Sports, LLC (formerly Billy Casper Golf), a wholly owned subsidiary of Troon Golf, LLC, Scottsdale, Arizona
Request: Requesting authorization for the Forest Preserves of Cook County (the "Forest Preserves") to enter into an agreement
Reason: The Forest Preserves sought proposals through a Request for Proposals ("RFP") process for the management of its ten (10) golf courses and four (4) driving ranges. Indigo Sports, LLC was selected out of four (4) total respondents due to their offer being the most lucrative and sustainable for the longevity of the Forest Preserves' golf portfolio. The Forest Preserves also partnered with a golf consultant to assist in developing the RFP as well as evaluating potential golf course management providers (See Board Item No. 24-0168). Indigo Sports, LLC (known previously as "Billy Casper Golf"), which has managed the Forest Preserves' golf courses since 2003, presented the strongest financial package and management plan for the upcoming term. Purchase Order #74000014226, is added for tracking purposes.
Contract Period: 1/1/2025 - 12/31/2034 with one (1) optional extension for an additional ten (10) years.
Estimated Fiscal Impact: N/A (revenue generating as provided below)
The Forest Preserves will receive the following revenue: a Minimum Annual Fee for the golf courses of $700,000.00 for Years 1-5 and $1,400,000.00 for Years 6-10 and the Extension Term, or the total gross revenue percentages identified below, whichever is greater.
A. Gross Golf Revenues
i. Years 1-5: Five Percent (5%)
ii. Years 6-10: Ten Percent (10%)
B. Food & Non-Alcoholic Beverages Revenues
i. Years 1-10: Five Percent (5%)
C. Alcoholic Beverages Revenues
i. Years 1-10: Seven and one-half Percent (7.5%)
D. Other Revenues
i. Years 1-10: Five Percent (5%)
Additionally, the Forest Preserves will receive $11,000,000.00 over the first three (3) years of the agreement, along with a continuous capital contribution of 5...
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