Shark's Club Swims In Red Ink

Greg Norman is among the creditors of a bankrupt golf club that promised members access to the world's most famous courses.

The Daily Telegraph reported Tuesday that The World Golf Club owed hundreds of thousands of dollars. Norman helped bankroll and launch the club, and was named its captain.

The club began operating less than a year ago. It promised members access to courses, including St. Andrews in Scotland and Pebble Beach in the United States, and discounts on hotels.

Norman's Australian business manager Frank Williams could not say how much the venture cost the Aussie golf great.

"Greg's the biggest creditor, I would think," Williams said.

Accountants are trying to calculate how much is owed to more than 350 creditors, a spokeswoman for liquidators Arthur Andersen told the newspaper.

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