Deeds and WeedsMay 18, 2009

A Deal For The Yellowstone Club

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CrossHarbor Partners, a Boston private equity firm led by Yellowstone Club member Sam Byrne, will take control of the Montana private golf and ski club, the Wall Street Journal is reporting. The purchase price is $115 million. (The firm is coming up with $35 million in cash and assuming $80 million in debt.)

CrossHarbor had offered to buy the club -- which features a Tom Weiskopf-designed golf course -- for $470 million last year, but the deal fell through.

Think about that one for a sec: It's getting the club for 76 percent less than it offered a year ago.

If you're new to the whole Yellowstone Club fiasco and want to learn more, here's a helpful article from Bloomberg. And here's a recent Q&A with CrossHarbor's Sam Byrne on NewWest.net.

-- P.F.