MSKP's option also includes purchase rights to the remaining unsold acreage around the Legends golf course and several commercial parcels fronting International Speedway Boulevard and LPGA Boulevard. MSKP had previously purchased 261 acres within LPGA International in August 2002.
MSKP is completing a survey of the 1,150 acres and can walk away from the deal at any time if it changes acquisition plans. But William H. McMunn, president and CEO of Con-Tomoka, says he "expects to achieve a seamless and orderly transition of our company's responsibilities related to the LPGA International community, including the homeowners' association and community development district."
Con-Tomoka will continue to operate the LPGA International golf courses and clubhouse operations.
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