VIRGINIA WATER, England -- Wentworth Golf Club, one of Britain's most famous courses and the headquarters of the European Tour, has been sold to Chinese firm Reignwood Investments for $220 million.
Chanchai Ruayrungruang, founder of the Reignwood Group, says "Wentworth is a key strategic acquisition for our rapidly growing luxury lifestyle division, whose unique culture we are dedicated to preserving."
The course that hosts the European Tour's flagship PGA Championship and is located 25 miles west of London was previously owned by restaurant entrepreneur Richard Caring.
Caring says in a statement released by the Wentworth club that it is "in great hands for the next chapter in its amazing story."