Nike co-founder Phil Knight buys a golf course spread in La Quinta

Phil Knight’s post-retirement plans may involve a lot of golf if a recent real estate purchase gives any indication.

The billionaire co-founder of Nike Inc., who in June announced that he will step down as chairman of the company sometime next year, recently paid $4.25 million for a home at the Madison Club in La Quinta.

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Built in 2012, the Spanish-style contemporary backs the 14th fairway of the Tom Fazio-designed golf course with views of the greenway and surrounding Santa Rosa Mountains.

Two floors of living feature cathedral-style ceilings, iron chandeliers, formal living and dining rooms and a tiled kitchen with a large center island. Within 5,400 square feet of space, there are five bedrooms and five bathrooms, including a master suite with a fireplace and a soaking tub.

Telescoping walls of glass open to a covered patio and a swimming pool with spa. A courtyard entrance with a fountain feature and a fireplace completes the more than half-acre setting.

The property came on the market last year for $5.5 million and was more recently priced at $4.75 million in December, records show.

Nick Blodgett of Hideaway Properties Corp. was the listing agent, according to the Multiple Listing Service. Janine Stevens of Windermere Real Estate represented the buyer.

Knight, 77, founded Nike with legendary track and field coach Bill Bowerman in 1964 and has been instrumental in growing the company into one of the most recognizable brands in the world. Among the planet's wealthiest, his net worth is $25 billion, according to Forbes.

Twitter: @NJLeitereg

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