An in-principle sale between the SS&A Club and the North East business consortium was clinched 12 months ago.

Existing contracts with the greenkeeper Alan Chappell, clubhouse bistro operators Ben Stewart and Lisa Ryan and golf professional Mandy Buchanan roll over with the new owners who have links to the Yarrawonga-Mulwala hospitality scene.

SS&A Club chief executive Gerard Darmody confirmed the hand over had been completed and the club would use the proceeds of sale to put a dent in its $7.15 million debt.

“Hopefully, it is a great outcome,” he said.

“The goal was always to sell as a going concern and we’ve achieved that.

“There is still a functional golf course.

“It allows us to focus on Albury and keep improving our offer here.

“It will help pay some debt down and we will go from there.”

The sale price will be recorded in the SS&A Club annual report to be released later this year.

It announced plans to sell the golf club in 2010 after accumulating debts of $3.5 million and previously hoped to raise around $5 million from the sale.

A condition of sale was for the golf course to remain a going concern and not be carved up for residential land.

The owners said in a statement 12 months ago: “We will be re-investing into the golf course and its infrastructure and are committed to making it a profitable facility.

“We will be promoting Wodonga Golf Club to overseas markets, with an emphasis on tourism, education and cultural exchange.”

The sale was clinched by the late Tim Levesque in conjunction with agents, Stanley & Martin.

Stanley & Martin director Steve Martin has been unable to be contacted for comment.

Former chief executive Andrew Terry rolled out grand visions for the Wodonga course including a motel and developments on Parkers Road when the SS&A Club took over in 2005.

But his sudden departure and the decision to put the course on the market sparked a purge of five directors at a fiery annual meeting in 2010.

Bowling greens at the course were closed a year later.