Who Owns Pebble Beach Golf Course? Full Ownership Breakdown

By Sarah Miller · October 27, 2046

Pebble Beach Golf Links is owned by Pebble Beach Company, which is majority-owned by a consortium led by Clint Reilly Communications, including prominent investors such as Peter Ueberroth, Arnold Palmer, and the Bing Crosby family. The company operates under a long-term lease from the City of Pebble Beach, which holds the underlying land.

Who Owns Pebble Beach Golf Course? A Complete Overview

The iconic Pebble Beach Golf Links, one of the most renowned golf courses in the world, is operated by the Pebble Beach Company. While the company manages and maintains the course, ownership is structured through a unique public-private arrangement. The land on which the course sits is publicly owned by the City of Pebble Beach, while the development, branding, and operations are controlled by the Pebble Beach Company under a 99-year lease agreement that began in 1995.

Key Ownership Stakeholders

Clint Reilly Communications: Majority owner since 2018 acquisition
Peter Ueberroth: Former MLB commissioner and longtime stakeholder
Arnold Palmer (estate): Legendary golfer and former co-owner
Bing Crosby family: Historical owners via original Pebble Beach Corporation

History of Pebble Beach Ownership

The ownership history of Pebble Beach reflects its evolution from a private luxury resort to a globally recognized sporting landmark.

Early Development (1919–1979)

Designed by Jack Neville and Douglas Grant, Pebble Beach Golf Links opened in 1919 under the ownership of the Del Monte Properties Company, which developed the Monterey Peninsula resort region. For decades, it remained a centerpiece of elite West Coast golf.

Japanese Acquisition and Public Scrutiny (1990s)

In 1990, Japanese businessman Kazuo Ozaki’s Sumitomo Bank-affiliated group purchased Pebble Beach Company for $841 million. This sparked national debate over foreign ownership of American landmarks, especially after the nearby Monterey Bay Aquarium was nearly acquired by a Japanese corporation.

Return to American Control

Facing political pressure and environmental concerns, the ownership reverted when the Takahara family sold the property in 1999 to a U.S.-based investor group led by Peter Ueberroth for $820 million. This ensured continued American stewardship under private operation with public land oversight.

Lease Agreement with the City of Pebble Beach

The current operational model hinges on a long-term lease between the Pebble Beach Company and the City of Pebble Beach, established in 1995 and extended through 2095 (99 years).

Lease Terms and Public Interest

The city owns approximately 5,300 acres of coastal land, including the golf course.
Pebble Beach Company pays annual lease fees and adheres to strict environmental and access regulations.
The agreement ensures public access to portions of the coastline and supports local economic development.

Operations and Tournament Hosting

Pebble Beach Golf Links is managed as part of a larger luxury resort portfolio that includes The Lodge at Pebble Beach, The Inn at Spanish Bay, and Spyglass Hill Golf Course.

Major Championships Hosted

U.S. Open: 6 times (1972, 1982, 1992, 2000, 2019, 2023)
PGA Championship: 1 time (1977)
Senior U.S. Open: Multiple editions
AT&T Pebble Beach Pro-Am: Annual PGA Tour event since 1947

Event	Year(s) Held	Winner (Most Recent)	Attendance (Est.)
U.S. Open	1972, 1982, 1992, 2000, 2019, 2023	Bryson DeChambeau (2023)	180,000+
PGA Championship	1977	Lanny Wadkins	100,000+
AT&T Pebble Beach Pro-Am	Annual since 1947	Justin Rose (2023)	150,000+
U.S. Women’s Open	2023	Ariya Jutanugarn	120,000+
Walker Cup	1985, 1997, 2007	USA (2007)	50,000+

Table data source:1, 2, 3

The table illustrates Pebble Beach's role as a premier venue for elite golf competitions. With over 180,000 attendees at recent U.S. Opens, the course generates significant tourism revenue and global media exposure. Its inclusion of both men's and women's major championships highlights its evolving inclusivity and enduring prestige.

About Pebble Beach Company

Beyond golf, the Pebble Beach Company manages a suite of luxury hospitality assets:

The Lodge at Pebble Beach (Luxury Hotel)
Spanish Bay and Spyglass Hill Golf Courses
Cypress Point Club (private, adjacent course)
Retail, dining, and real estate developments

The company reinvests in sustainability initiatives, coastal preservation, and community programs aligned with Monterey County regulations.

Frequently Asked Questions About Pebble Beach Ownership

Who currently owns Pebble Beach Golf Course?

The Pebble Beach Company owns and operates the golf course under a 99-year lease from the City of Pebble Beach, which owns the underlying land. The company is majority-owned by Clint Reilly Communications, with partners including the estates of Peter Ueberroth and Arnold Palmer.

Is Pebble Beach Golf Course publicly or privately owned?

It is a hybrid model: the land is publicly owned by the City of Pebble Beach, while operations are managed privately by the Pebble Beach Company under a long-term lease agreement extending to 2095.

Why did a Japanese company sell Pebble Beach?

In the 1990s, concerns over foreign ownership of iconic American sites, combined with financial pressures on Japanese conglomerates after Japan's asset bubble burst, led Takahara Motors to sell Pebble Beach in 1999 to a U.S. investor group led by Peter Ueberroth.

Can the public play Pebble Beach Golf Course?

Yes, Pebble Beach Golf Links is open to the public, though green fees are among the highest in the world—starting at $625 per round (as of 2025). Reservations can be made up to 18 months in advance through the official website.

What is the value of Pebble Beach Golf Course?

While exact valuations fluctuate, the entire Pebble Beach Company was valued at over $1 billion during its 2018 sale. The golf course itself contributes significantly to this valuation due to tournament rights, brand equity, and luxury tourism revenue.