First, I agree with the tracking device of some kind installed. Second, it's theft. I don't know the laws , but above a certain dollar amount stolen is a felony. People who are found guilty should have at least a misdemeanor on their record if not a felony. Third, I agree with banishment for life from KCFDC, and that includes all leagues and tournaments.
People are putting tracking devices in their pets thru operations. A few at each course would deter theft. A sign stating that fact at hole #1 would deter theft: "All baskets contain GPS tracking devices AND engraved serial numbers. Anybody caught stealing any basket will have a felony (or misdemeanor) on their record. The thief will also be banned from participation for life from any KCFDC event. Please leave the equipment alone. It is for everybody's use."