Members of the famous club, known for its breezy highlands weather, challenging courses and convenient location near Metro Manila, are growing increasingly frustrated over an unfinished clubhouse project that has ballooned into a P70-million controversy.
What’s being portrayed as a contractor dispute appears to be the result of serious lapses in oversight and management, a director from the board's minority bloc alleged.
One of the major allegations was their decision to remove the quantity surveyor, essentially the project’s cost watchdog, to save on costs.
This weakened budget controls and has now contributed to calls for a deeper audit.
Ironically, these cost-saving measures have further strained the club’s finances.
Cash reserves have fallen sharply and discussions are now turning to the sale of shares to raise additional funds given the remaining work needed to finish the project.
“Horribly f****d up,” was how one member put it.
These governance problems extend beyond the clubhouse project, with the discovery of insider deals benefiting a director and his spouse.
There’s also the supposed abuse of perks.
One notable incident is a late 2025 dinner attended by several board members and club managers at Smith & Wollensky BGC, famous for its association with the movie The Devil Wears Prada.
That tab, paid for by the club, ran up to about P93,000, and that’s with the senior’s discount included.
“Directors are supposed to lead and serve the [club] and not to take advantage of the club. They should be role models of good governance and integrity,” another member said.
An “urgent” stockholders’ meeting has been called, and members can decide whether the unfinished clubhouse is just a costly construction concern or a leadership problem.
The knives aren’t out yet but it seems clubs are certainly ready to be swung.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
