After more than a year of negotiations, the sale of Genoa Lakes Golf Course and Resort has fizzled, owner Mario Antoci confirmed last week.
"We kept giving one extension after another and finally said Sept. 15 is the final date," Antoci said. "The buyer wasn't able to meet that date."
According to an e-mail sent to Genoa Lakes members, the prospective buyer had been given up to seven extensions to close the deal since the original agreement dated March 19, 2008. September's deadline was the last extension, and failure to close resulted in termination of all further negotiations.
Antoci said Genoa Lakes is still for sale, and that he's working with broker Z. Gordon Davidson & Associates to locate a new buyer.
"It just went back on the market last week," he said. "The broker may have some interested parties we're sending information to, but so far there isn't anything."
Antoci wouldn't disclose the asking price of the business, but said operations will continue as normal despite the drawback.
"We'll just keep running it and hopefully find a buyer," he said.
Antoci is the president, treasurer and secretary of MDA Enterprises, which owns both Genoa Lakes Golf Course and the former Sierra Nevada Golf Ranch.
"We're selling both courses," Antoci said, "the entire business."
Genoa Lakes is located on the site of Sierra Creek Ranch, north of Nevada's oldest settlement. The 220-home development and golf course was approved by county commissioners in 1989. The northern course, located on the former Harvey's Ranch, was first approved in 1995.
Antoci's company purchased the southern golf course in 2000 and acquired the northern course, renaming it, in 2005. Between the two courses, the company owns approximately 564 acres, according to the Douglas County Assessor's Web site.
