Taos Ski Valley officials announced Wednesday that billionaire conservationist and hedge fund owner Louis Bacon has agreed to buy the New Mexican ski area. Taos Ski Valley CEO Mickey Blake says the ski area needs improvement, but the company doesn’t have enough money for renovation.
Blake says Bacon “shares our vision for the future of Taos Ski Valley.”
Company officials say the deal could be completed by next month. The sale price wasn’t disclosed.
The ski area was founded by the Blake family in 1955.
Official Press Release:
TAOS, NM – Dec. 11, 2013 – Mickey Blake, chief executive officer of Taos Ski Valley and son of legendary ski pioneers Ernie and Rhoda Blake, announced today that the family-held corporation has entered into an agreement with conservationist Louis Bacon who will purchase the resort.
Both Blake and Bacon anticipate, and are committed to, a smooth and seamless transition for all existing employees, operations and especially for the skiing public.
Bacon has owned property in Taos Ski Valley since 1996 and his team collaborated with the Blake Family for several years on the Village Master Plan, which was unanimously approved last spring by the Village of Taos Ski Valley.
Louis Bacon is the owner of Trinchera Ranch in Costilla County and Tercio Ranch in Las Animas County, Colorado. In 2012 Bacon reached an agreement with Colorado Open Lands to place Tercio Ranch into a perpetual conservation easement that followed his early work with U.S. Fish & Wildlife Service (FWS) to place Trinchera Ranch under the largest conservation easement donation ever received by FWS as well as the largest in Colorado.
His long-term commitment to southern Colorado and northern New Mexico has shaped his understanding of the region. Bacon is a recognized conservation philanthropist through his Moore Charitable Foundation, and in the region, the Trinchera Blanca foundation. Some of his conservation work includes supporting organizations like the Colorado Coalition of Land Trusts, Rio Grande Headwaters Land Trust and the Taos Land Trust.
The Blake family will retain a seat on the Board of Directors for Taos Ski Valley and all staff will continue in their current positions. Chief Operating Officer Gordon Briner, who will take over as CEO stated, “We owe so much to the Blake family and their enduring legacy that has made Taos Ski Valley what it is today. I look forward to continuing to work closely with Mr. Bacon and his team and advancing the vision of Ernie, Mickey and the rest of the Blake family into the future.”
The transaction will be completed pending shareholder approval.