Rowany Golf Club is still open for business.
A motion to voluntarily wind up the club was defeated by a 100% vote from a large turnout of members at an Extraordinary General Meeting last night.
The gathering at the Falcon's Nest in Port Erin was told of plans to restructure the club with a board of directors made up of businessmen running the financial affairs.
A business plan is to be drawn up by April next year.
Port Erin Commissioners have also given Rowany a rental holiday for the next year to show their support for the facility in the town.
Members elected a new committee and agreed fees for 2015 including a one-off ?50 rescue payment.
Club captain Martin Young said the vote had come as a huge relief:
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