East Burke, Vermont — The last little corner of Vermont is in a peculiar position.
Since 2016, Burke Mountain Resort has been under receivership due to the prior owner of the mountain engaging in extensive fraud. Since then, federal receiver Michael Goldberg appointed Leisure Hotels to oversee Jay Peak and Burke Mountain despite them not having prior experience with ski resorts. Jay Peak was sold to Pacific Group Resorts, Inc. in 2022, but the process to sell Burke has been much trickier.
It seemed like the sale of Burke would happen by the end of 2023. In a report submitted in June 2023, Goldberg said that they received a stalking horse bid for the ski resort and expected to sell the ski resort by the end of the year. However, nothing happened. In a report from last June, the process repeated itself, with Goldberg saying it had received another bid. As of early 2025, a new owner has yet to be announced.
The North Star Monthly, a local magazine in the Northeast Kingdom of Vermont, dove into the issues at Burke Mountain. It tries to figure out why it has yet to go to auction, which is the next step in the process, because Goldberg didn’t respond to questions from them.
The most interesting parts of the article were the parts that discussed the people who are potentially interested in buying Burke. There are dozens of potential parties that have spoken with Goldberg, but most didn’t end up bidding because of the complicated process.
However, a few parties stand out. The first is Mark Greenberg, who’s a real estate developer. He has a partner who also has experience turning around ski resorts thanks to extensive snowmaking investments. Greenberg old North Star Monthly that it has submitted two bids to Goldberg: $12 million in 2023 and $10 million in 2024. The reduced bid is because of the decaying infrastructure on the mountain. Goldberg said he is still offering $10 million to purchase Burke.
“We lost one ski season already,” Greenberg told North Star Monthly. “We don’t want to lose another. We need to get to work. Every time we lose a season, the resort is devalued…This is a thing of love for me. I’m not chasing money. I’m chasing love. I’m a ski dad and I want to turn [Burke] into something to be proud of.”
Another potentially interesting party is Donald Graham, who purchased the ski resort back in 2001, which was when it was also in dire straits. Graham has yet to make a bid for the mountain and didn’t issue a comment to the Vermont publication.

The article also mentioned that one party was interested in buying Burke and converting it into a private club. However, this concept still seems unlikely, as the President of the Burke Mountain Owners Association stated they would “fight that tooth and nail.” Most people who have expressed interest in buying the mountain have connections to Burke Mountain Academy, the racing school that has developed athletes like Mikaela Shiffrin.
The improvements needed at Burke are extensive. At the top of the to-do list is a new snowmaking pond, as the Vermont ski resort currently has meager water access. Other issues include a hotel that has lower than industry average occupancy, aging infrastructure, needed maintenance, lifts with frequent downtime, and the ski resort not being fully staffed. Its latest lift problem regards its J-Bar, which services the Carter Country trail. Earlier this month, Burke announced the J-Bar lift won’t open this season due to mechanical issues. Overall, it’s estimated that the ski resort is losing $1-2 million each year.
In response to the article, a petition was started to change the process for selling the mountain. With over 650 signatures as of early Tuesday afternoon, the petitioner’s ultimate goal is to put it on the real estate market rather than go through a stalking horse bidding process. The individuals behind the petition believe this change would “not only open the platform to a wider array of interested parties but could potentially help us find a buyer with a vision for the future.”
Click here to read the article about Burke Mountain by the North Star Monthly.

Image/Video Credits: Burke Mountain, New England Ski Journal