Trump Golf Links at Ferry Point has been the subject of a legal battle with the City of New York following the January 6 insurrection at the U.S. Capitol. Now Bally's is buying Trump out of his lease with the city.
"We are supportive of the transfer of the Ferry Point Golf Course to Bally's, and we are confident they will deliver a high-quality golfing experience to New Yorkers," the New York City Parks Department said in a statement.
Bally's is expected to continue to operate Ferry Point as a golf course but rename it, sources said. Terms of the deal were not immediately clear but the sources said it's well into the millions.
Trump is nine years in to a 20-year lease with the city. It's a lease the city, under Mayor Bill de Blasio, tried to terminate after the riot at the U.S. Capitol.
A judge ultimately sided with the Trump Organization and reversed the city's decision.
"It is almost certainly the case, as in most long-term relationships, contractual or otherwise, that the parties a decade ago, with a different-- third consecutive term municipal administration-- and underdeveloped parkland, did not foresee the breakdown in such relationship rendered adversarial, which is represented by the dispute herein," the 2022 decision said.
The deal with Bally's is similar to the one Trump reached with Hilton to buy him out of his lease with the federal government to operate the old post office in Washington DC. It has since been converted to a Waldorf-Astoria property.
The comptroller's office needed to sign off on the deal between Trump Org. and Bally's. The contract submission was given to the comptroller's office from the Parks Department on August 23 and was reviewed and registered it in two weeks.
"I am delighted that Trump's name will no longer deface city parkland," Comptroller Brad Lander said.
A representative for the Trump Organization declined to comment. Bally's did not immediately respond to a request for comment.
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