Friday, May 23, 2025
By EARYEL BOWLEG
Tribune Staff Reporter
ebowleg@tribunemedia.net
PRIME Minister Philip “Brave” Davis did not directly answer questions about whether the government has received the $120m for the sale of the Grand Lucayan resort and surrounding property, instead telling skeptics to “wait and see”.
Mr Davis was questioned by reporters yesterday about the sale to Ancient Waters Bahamas Limited, a subsidiary of US firm Concord Wilshire Capital (CWC).
“We have a project,” Mr Davis said. “We have an arrangement and a deal. Wait and see. I don’t need to get into these details. Instead of us coming together to ensure that this project is successful, why stand back or criticise when for years, nothing has happened. Something is about to happen.”
“Let us work together to see that it happened instead of asking these questions. That really is only about trying to get political fodder out there to talk about. I’m not about that now. I’m about trying to ensure that this project succeeds and that the Bahamian people, and particularly Grand Bahamian, people benefit from it.”
Office of the Prime Minister communication director Latrae Rahming said under the terms of the agreement, the government has to sell the Grand Lucayan property including the 56-acre beachfront resort and the adjacent 160-acre Reef Golf Course for $120m to the subsidiary.
Opposition leader Michael Pintard has repeatedly pressed the Davis administration to provide more details of the agreement.
The prime minister recently criticised the opposition leader for being absent during last week’s Heads of Agreement signing, claiming Mr Pintard was invited.
Pressed on the issue, Mr Pintard did not answered directly if he was invited and warned not to be distracted as the issue is the sale of the Grand Lucayan.
He said the opposition has explained to the government that it is willing to support them.
“To the extent that they can sign an agreement on heads of agreement now they could, if they can show us that they have sold the hotel and they need our input.”
“We stand with them for the revitalisation of Grand Bahama and that is the central issue. He know the details. Unfortunately, he’s not prepared to be candid about the details, and that’s what we should keep. We should focus on.”
Mr Pintard said there is a contradiction when asked about what the prime minister and deputy prime minister Prime Minister Chester Cooper on the funds being received.
He also claimed that Deputy Prime Minister Chester Cooper was sidelined and not closely involved in the final negotiations.
According to Mr Pintard, the prime minister did not have confidence in Mr Cooper’s ability to deliver on the deal and therefore worked with others on the arrangement.
Comments
ExposedU2C says...
The reason Chester the Jester was sidelined is because he was having a most difficult time negotiating a big enough piece of the action for the 'right people' within the hierarchy of the PLP.
And let's not forget that about $200 million of the taxpayers hard earned money has been squandered on this property inclusive of the $65+ million paid to the ChiComs who previously owned it and are most grateful for our corrupt politicians taking it off their hands and dumping it on the backs of the taxpayers. Truly pathetic!
Posted 23 May 2025, 11:45 a.m. Suggest removal
Sickened says...
So no. They haven't received any payment of the hotel or land. That fact is blatantly obvious based on his childish comments.
Posted 23 May 2025, 11:46 a.m. Suggest removal
tell_it_like_it_is says...
Indeed. Makes me wonder...
PM Davis: "**I don’t need to get into these details.**" <br>Umm... **what?** Yes, you need to get into the details. This isn't a personal sale involving your personal bank account. This is a deal that affects a major island in the country and should be transparent. SMH🤦♂️
Posted 25 May 2025, 2:23 p.m. Suggest removal
TalRussell says...
'The Premiership is 'only now nervously' saying,'-- she's turned from 'giving out confident expressions of a deal 'done, done' into a ‘wait and see’ if PLP govt, 'actually' got' their USD120 millions from the Lucayan Hotel sale? -- Certainly, 'tis a major shift from earlier expressions. --- If not, they might as well just resign in full as Freeports's second govt and *'step aside'** and allow Grand Bahama and the Abacos' to join together as they move "Onward, Forward, Together, United with their "Independence Movement". -- USD120 should have been easy pocket change, considering 'twas pitched as *'a BILLION USD deal.** -- Yes?
Posted 23 May 2025, 1:08 p.m. Suggest removal
bahamianson says...
Freedom of information would have covered this.
Posted 23 May 2025, 1:38 p.m. Suggest removal
tetelestai says...
Actually, it would not have. One of the exemptions prescribed in the FOIA was that of government business (my words). So, this did not have to be disclosed.
Posted 26 May 2025, 3:35 a.m. Suggest removal
TalRussell says...
It would have registered 'internally' with Concord Wilshire Capital (CWC) - like in the boardrooms of thousands of US firms - their worries as investors worldwide - 'grow more skeptical' about the quickness to an 'ugly' America. -- Yes?
Posted 23 May 2025, 2:28 p.m. Suggest removal
rodentos says...
One question might be allowed: if they can't make money on 1100 (or so) hotel rooms, how will they make money on only 400 rooms (and after spending 800M)... maybe the problem is related to bad infrastructure and lack of airport/connections... eh?
Asking for a friend...
Posted 23 May 2025, 6:01 p.m. Suggest removal
screwedbahamian says...
Yes, the citizens of the Bahamas public treasury will receive $120 million only after, yes only after it represents a maximum of 10 percent of the total profits over the life of the project.
otherwise show us the signed HOA and the cancelled cheque and deposit slip for the funds going into our public treasury account.
Also, show us the breakdown of the expenses the Bahamian people, yes, ALL THE BAHAMIAN PEOPLE incurred (was charged) for the political Party signing of the HOA, documents that were signed and sealed, before every speaker was kissing A*s for a political handout, including the religious prayer man. Also, while you in the mood for reporting expenses, please provide a breakdown of what the "fire engine" eating citizens were charged for all the big parties and for the foreigners them and the political party members, family, friends and LOVERS to attend to celebrate our 50th INDEPENCE DAY. OH yeah and the cost for half the nation traveling to Dubi to promote Tourism. Seriously?. Boy we missing a lot of things them, Hey???
Posted 24 May 2025, 10:27 a.m. Suggest removal
ExposedU2C says...
We're still waiting on all the diamonds that were suppose to come our way from Stumpy Davis's extremely lavish and most extravagant visit to Botswana. At least his wife brought back one big diamond on her finger from that very costly trip paid for by the Bahamian taxpayers.
Posted 24 May 2025, 12:40 p.m. Suggest removal
rosiepi says...
There’s alot of surplus blood diamonds in the coffers of Botswana, who better to smuggle them than one traveling in a party not subject to customs protocols?
Posted 25 May 2025, 10:10 a.m. Suggest removal
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