[6] The original, private Balboa Bay Club was owned by Jack Wrather from 1960 until 1971, when he sold it to William Ray.

In June 2012, the BBC was sold to Richard H. Pickup and his family members,[9] Eagle Four Partners and Pacific Hospitality Group, LLC [10] The Resort & Club is now fully independent and owned by Eagle Four Partners, making up the entity of International Bay Clubs.

[11] The club has been host to many notable people over the years, including: presidents, politicians, business leaders and actors, including John Wayne, Humphrey Bogart, Robert Wagner, Lauren Bacall, Natalie Wood, John Travolta, Jerry Seinfeld, Jim Carrey, Russell Simmons,[12] Barry Goldwater.

The Balboa Bay Club is well known as a prime viewing location for the annual Newport Beach Christmas boat parade, hailed as "one of the top ten holiday happenings in the nation" by the New York Times.

[15] In 2011 the Balboa Bay Club honoured the winners of the 102nd annual Newport Beach Christmas Boat Parade and Ring of Lights at a public awards dinner and auction.

[16] Also a key viewing area for the Beer Can Races, a summer weekly event among sailors in the Newport Beach harbor for decades.

In the 1970s the club's main beach area rented small sailboats and offered sailing instruction during the summer.

Today the club and resort's marina facilities primarily accommodates power boats and large motor yachts.