AILSA Craig, the giant granite rock that sits in splendid isolation in the middle of the Clyde estuary, has been called many things. To generations of Glaswegians it was "Paddy's milestone" on account of its position, roughly halfway between Glasgow and Belfast. Ailsa Craig's two-mile circumference and 1,114ft, gannet-flecked height moved William Wordsworth to pen the lines: "In lonely sublimity, towering above the sea and little ships".
However, to the golfers on the Turnberry Links course, Ailsa Craig more closely resembles a giant Hobnob biscuit, dunked midway into a particularly large cup of milky tea.
It is a view that the new Arab owners of Turnberry, the hotel and golf co
urses, wish to see better broadcast around the world. The Turnberry links courses were yesterday described as an "under-utilised asset" and it is clear that Leisurecorp, an arm of the Dubai World investment company, would like to make the Turnberry Ailsa as recognisable as the little stone bridge on the St Andrew's Old Course. The question is: how much more of Scottish golf do the men from Dubai wish to covet?
Recently Leisurecorp has reportedly shown an interest in the hotel adjacent to the links at Carnoustie, and while David Spencer, Leisurecorp's golf chief executive said there was no immediate plans to buy any more courses or hotels in Scotland, such an expansion was not ruled out. "There are some golf assets in Scotland that we have reviewed and we will continue to do that,'' he said.
''There's been talk about Loch Lomond, talk about Gleneagles and talk about Carnoustie. Leisurecorp seems to be attached to any golf asset which may be coming up for sale. We take our responsibilities seriously and what we're trying to do over the next 12 months is to concentrate on what we already have.
''At the moment, we have a fairly full menu and a lot to deliver. Now is a good time for us to stable the horses."
However, it was clear that the Dubai firm feels at ease in the home of golf. "One of the things we have to say is that we've been made very welcome in Scotland. People respect us in golf. And, because of that, we're very comfortable in Scotland. Over the years, our financial advisers have told Leisurecorp that we need density in the market. So, in the future, there isn't any reason why we shouldn't invest more in Scotland."
The Arab state of Dubai's investment in Scottish golf began in May, when Leisurecorp paid £55 million for the hotel and its courses. On Monday, Sergio Garcia, the Spanish golfer ranked No 5 in the world and a paid ambassador for the company, was helicoptered into Turnberry – which will stage The Open next year – to promote the Race to Dubai. This is a season-long competition where the world's top golfers aim to qualify for the £5 million prize money on offer at the Dubai World Championship in November 2009. Garcia praised the £30 million refurbishment programme which will see the complex closed from 1 November until just prior to the 138th Open Championship next July.
The spirit of James Miller, the original architect of the building, is being channelled by Mary Fox Linton, the internationally acclaimed interior designer.
"The chance to restore this hotel to its former glory is a wonderful opportunity and I feel passionate about it. When you arrive here, you can't help but smile, " she said.
Leisurecorp was established by Dubai World, the investment arm of the Arab state's government, in July 2006 with the goal of identifying, acquiring and developing a large portfolio of investments in the sports and leisure sectors around the world. The reason is simple, as the government was aware that its lucrative oil revenues would not continue indefinitely, it was necessary to diversify. As Dubai has set about re-creating itself as a tourist destination it made sense to invest in other tourism areas and particularly in sports which would generate world-wide publicity for the country.
The purchase of Turnberry was particularly praised by Sultan Ahmed Bin Sulayem, chairman of Leisurecorp's parent company, Dubai World, which is estimated to be worth £55 billion.
Andrew White, deputy editor of Arabian Business explained the reasoning behind the deal. "The Gulf states like Dubai realised a decade ago that their oil reserves would not last forever. In fact, Dubai has only around ten years left of oil supplies. So it was necessary to use the enormous cash resources they had built up to diversify. This is why Dubai has re-invented itself as a tourist destination and centre for property development with The Palm and The World resorts.
''But they also want publicity which is why Abu Dhabi bought Manchester City and why Dubai is expanding into golf courses and hosting events.
"The other reason why they can buy the likes of Turnberry and other properties in Britain is that is comparatively cheap. They have such liquidity that the world is, in effect, one large shop front."
This is a strategy that Abu Dhabi, its larger neighbour, has copied. Last month the state bought Manchester City with the goal of attracting the world's spotlight with the hope of transforming Manchester City into the new version of Manchester United, the most successful and affluent football team on the planet. The deal was viewed as Abu Dhabi stealing a march on Dubai who had tried unsuccessfully to buy Liverpool FC. "There is an element of tit-for-tat" says one consultant. "They have started to become quite competitive with each other and Dubai has certainly made its mark on the world of golf."
In November 2007, Leisurecorp announced a wide-ranging partnership with The European Tour, that involved the creation of the Dubai World Championships, the world's richest golf tournament. As well as pumping £11.2 million into the Race to Dubai and the Dubai World Championship, Leisurecorp is also spending another £20 million on the European Tour by underwriting various other tournaments including the South African Open. Next year, the Jumeirah Golf Estates' pristine courses in Dubai will become home to the European Tour's International Headquarters.
The wealth of Dubai is not immune to the turmoil in the global financial markets and now may be a good time to, as David Spencer put it "stable the horses" but it given the number of world-class courses in Scotland it would be surprising if no others fall under the sway of the Sultan.
WHO OWNS THE TOP COURSES?OLD COURSE, ST ANDREWS: All seven courses at the home of golf are owned by Fife Council and open to the public. The management of the courses on a landscape where golf has been played for at least 600 years is administered on behalf of the council by the St Andrews Links Trust, created by an Act of Parliament in 1974.
MUIRFIELD: Regarded by many golfing aficionados as the greatest of the Open Championship venues, Muirfield is owned by the Honourable Company of Edinburgh Golfers, whose records date back to 1744. The course has hosted the Open 15 times.
CARNOUSTIE: Widely regarded as the toughest and most challenging of the Open venues, Carnoustie is owned by Angus Council and is managed on the authority's behalf by the Carnoustie Links Management Committee. The council also owns the nearby Burnside and Buddon Links courses. Carnoustie is a public links and any golfer is welcome to play the Championship course, which was laid out in 1850.
ROYAL TROON: The course first hosted the Open in 1923 and the Championship has now been played there eight times. The popular Ayrshire links is owned by the Royal Troon Golf Club, formed in 1878 at a meeting of golfing enthusiasts in the town's Portland Arms Hotel.
GLENEAGLES: The three famous courses in Perthshire – the King's, Queen's and PGA Centenary Course (the venue for the 40th Ryder Cup Matches in 2014) – are part of Gleneagles Hotel and Resort, which has been owned since the mid-1980s by the drinks giant Diageo.
The full article contains 1353 words and appears in The Scotsman newspaper.
