Northern VT Locals -- Who Will Pick Up Jay Peak? -- "Alterra eyes Jay Peak. Vail takes a pass." from vtdigger.org
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| Jay Peak, VT - Credit: Runningonbrains [Public domain], via Wikimedia Commons |
In the article linked below from vtdigger.org, the author tells readers not only about the reasons that Jay Peak is up for sale, but who some of the interested buyers may or may not be.
For those who are not aware, the previous owner, as well as some of that owner's associates, used the mountain resort as part of a Ponzi scheme. Those involved have since been indicted on criminal fraud charges and lost control of the mountain. Now, the court-appointed receiver is in the process of selling the mountain and part of the proceeds of the sale must be used to pay back those investors who were taken by the scheme.Alterra eyes Jay Peak. Vail takes a pass.
Vail Resorts, a ski industry behemoth that has been gobbling up local resorts in recent years, is not interested in Jay Peak. Other companies, however, have visited the Northeast Kingdom resort, a company official told a local town board during a recent meeting.
The issue is that no one really knows who has been looking to buy the mountain. The article confirms that Alterra Mountain Company has shown some interest, but that goes without saying. Alterra Mountain Company is one of the larger United States ski corporations, so it is likely they will take a look at most mountains that are for sale. Also, the article confirms that Vail Resorts has not shown any official interest, as another one of the larger ski corporations in the United States, it can be assumed that they have looked into it in some way. It could be said that if one were to go down the list of the top ski industry, hospitality, and real estate corporations in the world, it's likely they have taken a look at Jay Peak.
The shame of it all is that the locals to Jay, Vermont and the die-hard fans that the mountain has earned over the years have to watch as the future of their home mountain hangs in the balance and hope that the buyer will not put cash over culture.
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