Revenue Reaches £50.6 Million with £8.4 Million Surplus for Reinvestment
St Andrews Links Trust has published its financial results for 2025, reporting total revenue of £50.6 million and a surplus of £8.4 million for reinvestment. The Trust, which manages the world-famous Old Course and seven other public courses in St Andrews, also saw a five per cent increase in golf rounds played across its facilities.
A total of 296,728 rounds of golf were played across the seven courses in 2025. This increase from 2024 was attributed to more rounds played by local golfers and annual ticket holders, with visitor play remaining at a consistent level. The balance of play is moving towards an equal split between ticket holders and visitors, reflecting the Trust’s strengthened commitment to local golfers by providing exclusive windows for play.
The surplus generated by the Links Trust is used to reinvest in its facilities and to protect and maintain the Home of Golf for current and future generations. Its obligations extend to promoting participation in sport and providing recreational facilities. Key investments in 2025 included the start of a major project to install advanced irrigation across the courses, with the first phase on the Old Course beginning in November 2025 and completed in March 2026. The overall course irrigation project represents an anticipated investment of around £10.5 million over a multi-year period.
Another major strategic investment saw the completion of a lease on the Craigtoun Course, owned by the Kohler Group. St Andrews Links Trust has taken over the running of the venue, which provides Links ticket holders with additional playing opportunities, more capacity for visiting golfers, and other opportunities to support both the commercial and charitable activities of the Trust. During 2025, the Links Trust also introduced The Drive initiative, offering low-cost access to Scottish golfers on all courses, including the Old Course. Additionally, the School’s Participation Programme with Community Champions was launched, with staff delivering after-school golf activities to nearly 100 pupils. The Trust remains committed to expanding its junior golf programme and investing in further community outreach programmes.
In Case You Missed It:
Entries Open for 14th Scottish Golf Tourism Awards in St Andrews
Kenoteq K-Briq, Trust Housing and Edinburgh Council retrofit programme among Accelerate to Zero Awards 2026 finalists
Scottish National Investment Bank reports £138m net loss as five early-portfolio failures land in one year
Gleneagles Hotel reports revenue growth to £110.5m
The Trust’s commitment to protecting and maintaining the local environment was underlined with the completion of a project in April 2025 to rebuild a 200m sand dune at the Outhead peninsula between the Jubilee Course and the Eden Estuary. More than 28,500 tonnes of sand were used as part of a nature-based solution to protect the Links coastline as part of the largest and longest-running dune restoration project in Scotland. Sandra Tuddenham, Chair of Trustees, said: “These results illustrate the continued demand to play at the Home of Golf and ensure we can continue to deliver sustainable economic, social, and cultural benefit to St Andrews, Fife and Scotland. As a charitable trust, we work to provide our local community and visitors with the best possible experience, while providing opportunity for golfers of all ages, abilities and backgrounds. The Trust has made significant investments to upgrade courses, player experience and capacity. We have launched a number of exciting community initiatives to deliver against our charitable objectives and undertaken vital environmental projects to maintain and protect the Links for current and future generations.”
Richard Holland, Chief Executive of St Andrews Links Trust, added: “The role of St Andrews Links Trust is to protect and maintain the Home of Golf, while looking for opportunities to enhance and develop for the future. These results give us the confidence to continue to reinvest in accessibility, sustainability, innovation and people to meet our objectives and obligations. I look forward to building on the sustainable management of the Links by further enhancing the experience we offer and ensuring the reinvestment in our estate is planned to deliver maximum impact for our golfers and our community.”
