A Yacht club in the town of Yacht City, Colorado, is under receivership after being bought by a group of businessmen.
The purchase price for the Yacht Town Village was reported to be $8 million, but the owners, Mike and Sarah Leopold, are demanding $100 million to $200 million.
They have been seeking to sell the club since February, when the club was sold to a local real estate company for $8.8 million.
Now the club is going into receiverships.
The owners say they’ve lost money in the last three months.
“The club has lost over $3 million since the purchase of the club,” said Sarah Leppold in a statement to NBC News.
“This is a bad day for our community and our state.”
The club, located in the small seaside town of Shoshone, was built in the late 1950s.
The Leopolds purchased the club in 2012, and built it into a popular, family-friendly place to play.
“We are devastated by this,” said the Leopldos.
“We have made great progress over the last seven years, but it has taken us this long to get to this point.”
“We believe that this is the right time to make this happen,” the couple told The Associated Press in a video message.
“The owner has the financial ability to continue to make the club the best it can be.
We feel that the owners’ financial standing and ability to manage the club should make it more financially stable.
We hope to be able to find a buyer who will support this.”
The owners say their previous attempts to sell failed, and they plan to continue making improvements to the club, including a bigger indoor deck.