Dec. 29--Phil Knight, the billionaire co-founder of sportswear powerhouse Nike Inc., has put a parcel of land in La Quinta on the market for $2.5 million.
Set within Madison Club, a 500-acre private community, the one-acre property overlooks the 13th green of the Tom Fazio-designed premier course. Views take in the fairway, lake and surrounding mountains.
Knight and his wife, Penelope, bought the plot in 2009 for $2.5 million, records show.
Janine Stevens of Bennion Deville Homes is the listing agent.
The listing follows Knight's April purchase of a $4.25-million home in the same affluent community.
Built in Spanish style in 2012, the custom home backs the 14th fairway of the golf course with greenway and mountain views. Cathedral-style ceilings, iron chandeliers, grand formal areas and a tiled kitchen are among features of the 5,400-square-foot house.
A courtyard entrance, a swimming pool and spa and a covered patio make up the more than half-acre grounds.
Knight, 77, in June announced his intention to step down from the company he founded with legendary track and field coach Bill Bowerman in 1964. An instrumental part of Nike's growth as a global brand, Knight has a net worth estimated at $25 billion, according to Forbes.
