Aurora
08-24-2011, 12:41 PM
From wdbo.com (Orlando radio station):
Mickey Mouse is getting out of the golf business.
Walt Disney World said Wednesday it has agreed to a 20-year-deal to turn over its five golf courses to a group led by legendary golfer Arnold Palmer.
The move pairs Disney World's courses with one of golf's most recognized names while also allowing Disney to step back from a business that has become less attractive amid competition from a number of Orlando-area courses during the recession.
Under the deal, Arnold Palmer Golf Management will take over day-to-day operations of each of Disney World's golf courses: Palm, Magnolia, Lake Buena Vista, Osprey Ridge and Oak Trail.
Financial terms have not been disclosed.
Over 300 Disney employees will be impacted by the move. Disney said each will be offered other jobs elsewhere at the resort.
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A more comprehensive story is on the Orlando Sentinel website.
Mickey Mouse is getting out of the golf business.
Walt Disney World said Wednesday it has agreed to a 20-year-deal to turn over its five golf courses to a group led by legendary golfer Arnold Palmer.
The move pairs Disney World's courses with one of golf's most recognized names while also allowing Disney to step back from a business that has become less attractive amid competition from a number of Orlando-area courses during the recession.
Under the deal, Arnold Palmer Golf Management will take over day-to-day operations of each of Disney World's golf courses: Palm, Magnolia, Lake Buena Vista, Osprey Ridge and Oak Trail.
Financial terms have not been disclosed.
Over 300 Disney employees will be impacted by the move. Disney said each will be offered other jobs elsewhere at the resort.
-----------
A more comprehensive story is on the Orlando Sentinel website.