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Mashantucket Pequot Tribe of Connecticut

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The Mashantucket Pequot Tribe traded half ownership of one golf course to attain full ownership of another. As the result of a July 20 deal, the tribe now owns the Foxwoods Golf & Country Club at Boulder Hills. In exchange, Bernard Golf has full ownership of the Foxwoods Executive Golf Course. Paul Mihailides, CEO of Bernard Investments, the parent company of Bernard Golf, said its partnership with the tribe was dissolved for financial reasons. "It was just a difference in business philosophy. We are a for-profit company and the tribe does not necessarily operate completely for-profit," Mihailides said. One of the only changes is that the Hopkinton course will revert to its former name - Lindhbrook Golf Club. There is no outstanding debt on either property. The sale severs all ties between the partners, who also planned to build a $7.6-million hotel in Richmond. Mihailides said his company will still build the hotel. Construction began this week and the 150-room hotel should be completed in about eight months, he said.

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