We are getting close to the ski season in Vermont, as Killington Resort will likely open up in the next couple of weeks when cold enough snowmaking temperatures come through. In the meantime, here’s some interesting snowsports news from the state as of late…
Jay Peak Inches Closer to a Sale:
Will this finally be the year that Jay Peak gets sold? After entering a receivership following the scandals surrounding the EB-5 program in the Northeast Kingdom, the state has been looking for a buyer of the famous ski resort for the past couple of years. According to VPR, that search may soon be coming to a close.
Here’s the official story from Vermont Public Radio:
“Jay Peak ski resort’s leaders are “actively engaged” in sale discussions with several potential buyers, according to recently filed court documents.
Michael Goldberg, the court-appointed receiver who runs the resort, wrote in Friday’s filing that draft purchase agreements have been exchanged — though he didn’t say how many.
The process of selling the ski resort ground to a halt last year due to the pandemic. Goldberg restarted the search earlier this year.
Jay Peak has been managed by Goldberg since 2016 after owner Ariel Quiros and developer Bill Stenger were accused of misappropriating more than $200 million from foreign investors.”
For the past year, Jay Peak Resort has been in an awkward spot. Canadian tourists make up a large portion of the guests at the mountain and were not allowed to travel down south. The economic issues surrounding the pandemic made the receivership temporarily suspend discussions for selling the resort. Challenges still remain for the resort. The border situation between Canada and the U.S. is far from resolved, and will likely continue to impact ridership this season. Potential buyers for the mountain could include Vail Resorts (although they weren’t interested in 2019), Alterra Mountain Company, Boyne, POWDR, and others.
The U.S. Mint Dollar Coin for Vermont Features Homage to Snowboarding:
On Monday, the U.S. Mint unveiled the 2022 American Innovation $1 Coin Program participants. Rhode Island, Kentucky, Tenessee unveiled their coin designs, but the most noteworthy one came from Vermont. The $1 coin from Vermont features a female snowboarder making a jump off a little rock, with snow-covered trails in the distance. Vermont is one of the birthplaces of snowboarding, as Jake Burton Carpenter helped create the modern snowboard in the state. It is still the Corporate Headquarters for Burton, albeit their manufacturing has moved overseas. When it comes out, it will become a great collector’s item for snowboarders and Vermonters.