In a court filing, his company, New Seabury Properties, called the lawsuit “frivolous” and said many members “have expressed no concern” with management’s plans, and in fact “have advised the club they prefer” the proposed changes.

The billionaire’s New Seabury holdings include two courses, Dunes and Ocean, a 42,000 square-foot clubhouse, the Popponesset Inn, a beach club, a fitness center and a tennis facility. The amenities are surrounded by 2,000 privately owned townhouses and single-family homes, the oldest dating to the 1960s.

When the secondary-home market began to heat up after the financial crisis, more residences began to appear, and construction is now underway on several near the courses. Some of the protesting golfers are convinced the membership shakeup is connected to the building boom. They figure the company wants to squeeze more profits out of the golf business and sell the resort with a price reflecting higher revenue.

Fitness-Center Leverage?

“This is not about running a country club,” said Dave Tacelli, who is in the semiconductor business and has been a member since 2013. “This is a real-estate play.”

Icahn’s representatives rejected the theory in a letter to members, saying the resort isn’t on the block. Club managers have said they’re committed to providing “an extraordinary experience and incredible amenities.”

Plans are under way for a snazzy new fitness center with executive locker rooms, a sauna and massage therapists. Opposing golfers claim the club is using that as leverage for the new fee structure because members who don’t accept it would be barred from the facility.

The proposed changes include reducing the number of membership categories to six from 33. In a March 17 letter announcing the new system, managers said the cap on the number of golf members would rise to 900 from 690, but in another missive on April 15 they said it will remain at the lower level.

No Refunds

For Cass Costa, a real-estate agent and a golf member for 45 years, the so-called streamlining would be costly. If she stayed in her current category, her annual dues would go up to $8,330 from $4,900. (The judge in the lawsuit ruled Tuesday that New Seabury can’t impose the new order until after a hearing in the case that’s set for May 27.)