BREWDOG founder James Watt has revealed he once wagered MILLIONS on a game of golf.
The entrepreneur was in the middle of negotiating a business deal and decided the best way to decide on terms was to hash it out on the course.
5
James Watt is the founder of multi-national brewing company BrewDogCredit: PA
5
Watt revealed that he once struck a business deal worth millions with the outcome decided on the golf courseCredit: Getty
The business tycoon is known for his hugely successful craft beer firm based in Aberdeenshire.
But it turns out he’s also quite handy with a club in his hand.
The booze mogul was so confident in his ability that he risked losing out on millions of pounds on the golf course.
In a post on his LinkedIn page, he revealed that one of his favourite locations is his rooftop bar in the middle of the famous Las Vegas strip.
Watt told followers that when he acquired the space he entered negotiations with US landlord Eli Gindi – but they couldn’t agree on a price.
Watt wanted $6million – around £4.8million – as part of a tenants improvement deal but Gindi wanted to fork out just $2million, around £1.6million.
And Watt explained how he made the bold decision to settle the huge deal on the greens.
He said: “One of my favourite locations that we have at BrewDog is the Las Vegas location.
“It’s a rooftop terrace in the middle of the Las Vegas strip, it is insane, it’s gorgeous, and it’s so much fun.
“The owner of that building, and that part of Vegas – he’s now a good friend of mine – is Eli Gindi.
BrewDog founder James Watt takes swipe at Dragons’ Den for turning him down as he makes another offer
“We ended up doing a deal together for the location on the back of the menu, and there was one thing that was outstanding.
“I wanted $6million from him as part of the tenant’s improvement deal, and he just wanted to give me $2million.”
Watt revealed that Gindi later proposed they play golf to determine which way the deal would swing.
He continued: “We were playing blackjack at 3am and he said to me ‘James, I’ve got an idea, we’re playing golf at 7am, if you win you get the six million, if I win you get the two million’.
“I thought he was half joking, so I said ‘okay, let’s do it’.
“We met at seven on the golf course, we shake hands, I beat him at golf.
“I’m not a bad player, and I still think he’s joking.
“I then fly back to San Diego, he flies to New York, and he sends me through the $6million the next day.”
Producing over 80million litres of beer a year, his company is one of the largest brands in Britain.
But he recently took a step back from the business, handing over the reigns to Chief Operating Officer James Arrow earlier this year.
In a change of pace for the entrepreneur, he has invested his money in his Made In Chelsea star fiancee, Georgia Toffolo’s dog food business.
The 41-year-old shared the news as he revealed he could delay tying the knot to save money on his taxes.
In another LinkedIn post, he said: “I’m making an investment into WiLD PACK – an incredible UK-based raw dog food business transforming dogs’ lives through raw, natural nutrition.
“I’m a massive advocate of the mission.
“If I marry Georgia within three years of investing, I become a ‘connected person’ under HMRC rules, and I lose the tax relief.
“But my tax advisor just dropped a bombshell on me the other day: If I marry Georgia within three years of investing, I become a ‘connected person’ under HMRC rules, and I lose the EIS tax relief.”
5
Watt revealed he could delay tying the know with fiancee Georgia Toffolo to keep his tax reliefCredit: Not known, clear with picture desk
Earlier this year, the beer tycoon sadly lost his father to cancer, just six weeks after announcing he was receiving end-of-life-care.
Mr Watt’s dad, Jim, was diagnosed with stage four pancreatic cancer just months after Watt tragically lost one of his closest pals earlier this year to the same type of cancer.
Watt said the news had hit his family “like a sledgehammer” as he issued a heartbreaking statement on social media.
In an emotional eulogy at his funeral, James paid tribute to a “devoted grandfather, son, uncle, and brother” who spent his life fishing in the North Atlantic.
He said: “My dad loved nothing more than racking up more lobsters, more herring, more mackerel, more speeding tickets and more crazy ex-wives than anyone else.
“He was a devoted grandfather, son, uncle brother and father as well as an exceptionally skilled skipper who spent his life in the North Atlantic.
“He remained a steadfast linchpin of anything he was involved in, from fishing to family.
“He always took the lead and did so in the most endearing and giving of ways.
“My dad spent most of his days at school plotting how not to be at school and how to be on the boats instead.”
5
He gave an emotional eulogy dedicated to his ‘hero’ at his father’s funeralCredit: YouTube
He added: “I arrived in 1982 and my dad has been both my absolute hero and my best friend ever since.
“It would seem almost impossible that he would go from exceptionally healthy to incredibly sick within such a short period of time.
Read more on the Scottish Sun
“The last few weeks have been heartbreaking, not only for my dad but for all of those who cared for him so deeply.
“This life is beautiful, remarkable and precious but also deeply unfair and inherently unjust.”
5
The Aberdeenshire-based brewery has locations all over Europe – but Mr Watt’s favourite is right in the middle of the Las Vegas strip and has quite the backstoryCredit: Alamy
