Trump set to buy Doral Resort for $170 million


Donald Trump may soon be the owner of the home of the WGC–Cadillac Championship. The Trump Organization has agreed to purchase Doral Golf Resort & Spa in Miami for $170 million in a bankruptcy sale, according to The Wall Street Journal.

Earlier this year, Paulson & Co. and Winthrop Realty Trust filed for Chapter 11 bankruptcy protection for the resort after taking over the property. An auction for the resort will still be held, but appears unlikely to net a better offer.

Trump is expected to take full ownership of the property in the first quarter of 2012, just in time for the PGA Tour to return to Miami for the second World Golf Championships event of the year.

Doral would be the second Trump-owned venue on the 2012 PGA Tour schedule. In fact, both venues would be used in the same week. The Puerto Rico Open, played opposite Doral in March, is held at Trump International Puerto Rico.