I've heard about this.
PW have apparently scrapped the yearly membership idea and are looking for people to shell out €25,000 for a 25 year 'right to play' this is a promotional offer valid until 31st March 08 and will go up to €30,000 . On top of this you would have to pay €500 P.A and a green fee of approx €7 or 10% of the public green fees. I think you will also get booking preference. Obviously most people wouldn't expect to be a member for 25 years, hence the 'right to play' can also be sold on at anytime......I think.
It all sounds to me like a scam to get big money as quickly as possible for whatever reason.
I for one couldn't afford it and would rather pay a yearly membership if that. It looks as if I will just have to pay as I play like all general public Golfers. A bit of shame ,as I would have liked to have been a member of the Club.
Midge