Within weeks of Republican presidential runner Donald Trump making insulting remarks about Mexicans migrating into the U.S., news of a golf club in Puerto Rico bearing his name, and seeking bankruptcy security, surfaced on Monday.
But the real estate magnate’s son and executive vice president of the Trump organization, Eric Trump, has clarified that they do not own the golf club.
Apparently, Donald, who is an avid golfer, licensed the Trump International Golf Club in Puerto Rico to use his name at a certain cost.
In a phone interview, Eric stated that the Trump organization has no monetary assets in the golf resort, and the company only supervises the golf course, reports Bloomberg Politics.
Furthermore, the golf club, which was owned by developer Empresas Diaz, sought bankruptcy security as Coco Beach Golf & Country Club, according to the estate’s lawyer, Charles Cuprill.
The golf resort has been facing financial problems and suffered from “operational losses” since 2014, Cuprill declared.
In an appeal given to a bankruptcy court in San Juan, Puerto Rico, documents show that the golf club has $9.2 million in assets and $78 million in liabilities.
The economic catastrophe which Puerto Rico is currently going through has greatly affected the nation, not only the golf club, Cuprill further added.
In fact, the Latin country is suffering from huge debt of $72 million and its economy has decreased annually since 2006.
Aside from the Trump International Golf Club in Puerto Rico, the presidential hopeful is also affiliated with 17 golf assets worldwide, and the golf section of Trump Organization Inc. supervises most of the courses, according to Bloomberg Politics.
Nevertheless, Eric has assured that the Trump family business is still going well.
Recently, the family opened a high-end winery in Charlottesville, Virginia, and Eric, who serves as the Trump Winery President, declared that if the presidential campaign does not turn out well for his father, he’ll return to constructing properties such as the winery.
And though Donald Trump was highly criticized because of his racist remarks against Mexicans, Eric declared that his father is not like other politicians who will give in to what everybody wants.
For Eric, his father is an American patriot and he’s running for presidency so he can concentrate on “fixing things.”
[Image via Cindy Ord / Stringer / Getty Images]