• Welcome to AlpineZone, the largest online community of skiers and snowboarders in the Northeast!

    You may have to REGISTER before you can post. Registering is FREE, gets rid of the majority of advertisements, and lets you participate in giveaways and other AlpineZone events!

Saddleback Mountain Cooperative - Information Thread & Survey

Jully

Active member
Joined
Dec 13, 2014
Messages
2,487
Points
38
Location
Boston, MA
$2.2 Million is not a bad price for the area! Love to hear more about the $5 million in "pledges"
 

mbedle

Well-known member
Joined
Jun 24, 2013
Messages
1,764
Points
48
Location
Barto, Pennsylvania
Just think how pissed some of the previous potential purchasers are seeing it got sold for only 2.2 million. Wasn't it on the market for I think 8 million or was it 12 Million? Got that all wrong - looks like the sale price is 6 million.
 
Last edited:

Smellytele

Well-known member
Joined
Jan 30, 2006
Messages
9,911
Points
113
Location
Right where I want to be
Just think how pissed some of the previous potential purchasers are seeing it got sold for only 2.2 million. Wasn't it on the market for I think 8 million or was it 12 Million? Got that all wrong - looks like the sale price is 6 million.

Well maybe that included the land that was sold to the Trust for Public Land
 

xwhaler

Active member
Joined
Nov 26, 2007
Messages
2,943
Points
38
Location
Seacoast NH
Folks, all the info that you are all debating is contained on this brand new website. I encourage you to read it and then analyze the content.
Too much ill-informed speculation abounds right now in this thread but all we need to know at the moment is nicely presented below.

http://skisaddlebackme.com/
 

deadheadskier

Moderator
Staff member
Moderator
Joined
Mar 6, 2005
Messages
27,921
Points
113
Location
Southeast NH
Surprised they are still talking some grand expansion plans. I think most would be happy with just getting the Rangeley done and running a lean, sustainable operation. All that new stuff would be fantastic, but also carries a lot of risk.
 

xwhaler

Active member
Joined
Nov 26, 2007
Messages
2,943
Points
38
Location
Seacoast NH
Running a limited operations outpost ski area just having replaced the Rangeley may not be enough to make the mtn sustainable for the long term.
They have a stepped plan to add/develop as additional funds are raised.
I think they also need to show some future development so folks understand the vision and are more willing to donate.

I think the main thing is they are trying to do something different and address some of the obvious shortcomings of why the mtn has been living on the edge for many many yrs.
 

bdfreetuna

New member
Joined
Jan 12, 2012
Messages
4,300
Points
0
Location
keep the faith
Wow this is great. Even with selling all that land for conservation they still want to go forward with major expansion plans.
 

MEtoVTSkier

Active member
Joined
Jan 25, 2011
Messages
1,234
Points
38
Location
Aroostook County, ME
All that said, if we can raise the funds fast enough, it is this initiatives intention to open the ski area in some fashion – even if it is just spinning lifts with little to no other services. One reason is to of course provide skiing to our community, but a more important reason is to buffer the economic impact on the region by being closed for one more year. However, it is certain that at least initially any opening will be limited to members of the community and their guests. The last thing we want to do is provide an inferior product to the general public.

That just doesn't sound very good to me... Seems you don't want to alienate any potential investors...

Other than that looks good, although I agree, the expansion plans seem optimistic/aggressive. We'll see I guess.
 
Last edited:

joshua segal

Active member
Joined
Jan 31, 2014
Messages
991
Points
43
Location
Southern NH
Website
skikabbalah.com
Just think how pissed some of the previous potential purchasers are seeing it got sold for only 2.2 million. Wasn't it on the market for I think 8 million or was it 12 Million? Got that all wrong - looks like the sale price is 6 million.

The newspaper reporter got it wrong. $2.2 was the cash at closing. There is also a substantial note payable to the Berry's. I'm not sure if the amount and terms of that note are public information, so I'll quit there.
 

mbedle

Well-known member
Joined
Jun 24, 2013
Messages
1,764
Points
48
Location
Barto, Pennsylvania
I don't think that is correct. SMCR, LLC needs to raise 4 million before the agreement of sale can be signed. The Berries are requiring 4.9 million in cash to payoff debt they have at the resort. 2.2 million will come from SMCR and 2.7 million will come from the sale of 3,294 acres to the Trust for Public Land. SMCR will generate the 4 million via share sales and donations (not sure who would donate to the for profit company). The remaining 1.8 million is for operating expenses. What I am having a hard time understanding is the separation between SMCR and SMF.
 
Last edited:

bdfreetuna

New member
Joined
Jan 12, 2012
Messages
4,300
Points
0
Location
keep the faith
Saddleback throws us a curve ball on their Facebook:

Saddlebackers, many of you by now have seen the Saddleback Mountain Foundation's announcement of their initiative to raise monies for the purchase of the mountain. We wish them well with their efforts. We continue to work with the Saddleback Mountain Foundation, in addition to the other qualified buyers who are also in the process of pursuing the purchase of the resort. When the trail is clear we will update you.
 

joshua segal

Active member
Joined
Jan 31, 2014
Messages
991
Points
43
Location
Southern NH
Website
skikabbalah.com
FWIW, Peter told me a few minutes ago that they raised $600K (15%) just at the meeting today. Think about who has the most to lose if Saddleback goes under? The owners of the condos and (the economy of - including real estate values of) Rangeley. I'm betting that most of the money will be coming from those sources.
 

joshua segal

Active member
Joined
Jan 31, 2014
Messages
991
Points
43
Location
Southern NH
Website
skikabbalah.com
If you're just going to tease and give the Saddleback lovers bluebells why bother posting? We get it, you have connections.
I am only trying to correct some directions in which this thread goes that are blatantly incorrect. I can't give out confidential information. I've been on AZ long enough to know some names whose posting I don't bother to read. Perhaps you should do so with mine!
 

tipsdown

Member
Joined
Apr 22, 2008
Messages
263
Points
18
I don't think that is correct. SMCR, LLC needs to raise 4 million before the agreement of sale can be signed. The Berries are requiring 4.9 million in cash to payoff debt they have at the resort. 2.2 million will come from SMCR and 2.7 million will come from the sale of 3,700 acres to the Trust for Public Land. SMCR will generate the 4 million via share sales and donations (not sure who would donate to the for profit company). The remaining 1.8 million is for operating expenses. What I am having a hard time understanding is the separation between SMCR and SMF.

Right on...SMCR and SMF are essentially one in the same...Is structured as such for Legal/Financial/Tax considerations...
 

benski

Active member
Joined
Jun 18, 2014
Messages
1,114
Points
36
Location
Binghamton NY
FWIW, Peter told me a few minutes ago that they raised $600K (15%) just at the meeting today. Think about who has the most to lose if Saddleback goes under? The owners of the condos and (the economy of - including real estate values of) Rangeley. I'm betting that most of the money will be coming from those sources.

How?! Most people have work so how many people could even make it to the meeting. Did that include people who offered money online? sound like they are off to a good start.
 

joshua segal

Active member
Joined
Jan 31, 2014
Messages
991
Points
43
Location
Southern NH
Website
skikabbalah.com
How?! Most people have work, so how many people could even make it to the meeting? Did that include people who offered money online? Sounds like they are off to a good start.
I wasn't there, but Peter debriefed me by phone after the meeting. He estimated attendance at 150. There was coverage from all the local newspapers, AP, all the local TV stations, NECN and I forget who else. He said, that the checks/pledges in hand were just from the meeting today. He felt they could not accept money until there was an agreement with the Berrys and this press conference was the official roll-out. The interest shown online is not included and when push comes to shove, he realizes that many of those who showed interest and indicated they would provide support, may not actually come through when the reality of writing a check comes along.
 
Top