Quinn reviews Wentworth bid

Fermanagh businessman Mr Seán Quinn is believed to be reviewing his options on acquiring the exclusive Wentworth golf facility after his bid was trumped by retail entrepreneur Mr Richard Caring.

It emerged yesterday that Mr Caring had raised his bid for the Surrey club from £100 million (€146 million) to £110 million. This beat Mr Quinn's bid of £102 million, which was detailed in an offer document sent to Wentworth shareholders last week.

Mr Quinn began bidding on Wentworth at £87.5 million and, until Tuesday, was the highest bidder.

Mr Caring's efforts to take over the luxury sports facility have the advantage of support from Wentworth's largest shareholder, Chelsfield.

He does not have the full support of the remaining 26 shareholders, who between them hold 40 per cent of the club. At least two of these indicated that they may also make a bid.

These two shareholders - hotelier Mr Surinder Arora and the group of Irish investors who own the Savoy Group - have exercised special pre-emption rights that allow them to match or raise other offers.

It remains unclear whether either will actually make an offer for Wentworth. Quinlan Private, which leads the consortium of Irish investors, has said that it wants to realise maximum value for its shareholders but has stopped short of saying it will bid.

It is possible that Mr Quinn, who has been in the background at Wentworth for several weeks, may see the £110 million bid from Mr Caring as a sign that the club has slipped beyond his reach.