Key insights
- The Trump administration reached a deal with a non-profit regarding DC golf courses, granting a long-term lease for two courses while the government overhauls a third. While this resolves a previous cancellation, the market impact is negligible, primarily affecting local real estate and recreation rather than broader equity markets.
By Kanishka Singh
WASHINGTON, May 8 (Reuters) - President Donald Trump’s administration and a non-profit group that runs Washington, D.C.’s public golf courses reached a deal on Friday under which the organization will have a new long-term lease of two courses while federal officials will overhaul a third one.
The two sides released a joint statement on Friday. Here are some details:
-
The National Links Trust non-profit will have a new long-term lease to operate and redevelop Langston Golf Course and Rock Creek Park Golf, the statement said.
-
The statement added that the non-profit will continue to operate East Potomac Golf Links on an interim basis until the Interior Department’s National Park Service starts what it calls a "historic restoration" of the waterfront course.
-
All three public golf courses in the U.S. capital will remain open, the statement added.
-
In December, the Trump administration ended National Links’ previous deal to oversee D.C.’s public golf courses.
-
Critics saw the cancellation as another step in Trump’s push to remake the look of the nation’s capital.