RICHARD CARING, the retail entrepreneur, yesterday raised his bid for Wentworth golf club by £10 million to £110 million, in an attempt to fend off rival bidders including the Savoy Group and Sean Quinn, the Irish billionaire.

Mr Caring’s revised offer has been recommended by Chelsfield, the property company run by Elliott Bernerd, which owns a 60 per cent stake in the exclusive Surrey club.

The property company has agreed not to recommend a rival offer unless it is at least 10 per cent higher.

Mr Caring, who is a close friend of Philip Green, the billionaire owner of Bhs and Arcadia, is a keen golfer who says he wants to attract more championship tournaments to the club.

News of Mr Caring’s higher offer came as it emerged that Eddy Shah, the former newspaper proprietor and minority shareholder in Wentworth, has exercised pre-emption rights granted to club shareholders, which would allow him to match Mr Caring’s offer.

Surinder Arora, a hotelier who lives close to the 18th hole of the famous West Course of Wentworth golf club, and the Savoy Group, which is controlled by Derek Quinlan, a former Dublin tax inspector, have both also exercised their pre-emption rights.

It is thought that Mr Shah and Mr Arora have an agreement which means that, in the event of ownership of the club being split between existing members, the two men would have majority control.

Sources close to the process said that, despite the emergence of the higher offer from Mr Caring, the battle was far from over.

Sean Quinn, who previously submitted a £102 million offer, which was rejected by Chelsfield, is thought to be mulling a £115 million bid.

The price tag for Wentworth has now soared to as much as £25 million above book value.

The news came as it emerged that Chelsfield has appointed NM Rothschild to advise the company on two bid approaches from Multiplex, the Australian construction company, and Westfield, the Australian shopping centre developer.

It is believed that the Reuben brothers, the billionaire investors, may also make their own bid for Chelsfield or back one of the existing bidders such as Multiplex.

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