Spokane (Wash.) Country Club is one step closer to joining the M Club, a club owned by Phil Mickelson.
According to an e-mail sent to the membership on behalf of the club president, the club is in the process of working through an Asset Purchase Agreement with the M Group to submit to the bankruptcy court.
Under the terms of the agreement, the M Group would invest $1 million into the club as long as the club can guarantee 250 members will pay an initiation fee of $2,000 that would be used by the M Group toward a reinvestment in the club.