Allerton has been transferred to a private company in a bid to save Liverpool city bosses a quarter of a million pounds each year.
Allerton Golf Trading has signed a 25-year deal after also taking over North Liverpool GC in Kirkby earlier this year.
Assistant mayor Councillor Wendy Simon said: “This is really positive news, not only for golfers, but for the city as a whole.
"This new agreement ensures that people can still play golf on a beautiful 18-hole course in one of the most picturesque parts of the city." The council had previously subsidised the course at almost £5 per round.
Director of Allerton Golf Trading, Mike Hanlon, said the company aims to improve both the course and the clubhouse facilities.
The course will remain in council ownership.
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