Jay Peak bombshell

[IceEidolon]

Another possibility is KSL Resorts directly. They're in PA with Blue and Camelback, they're not short on cash as far as I know, and they're already directly and indirectly competing with their own Alterra money. Jay is already a resort destination, which is their bread and butter.

 

[jimmywilson69]

Interesting angle

 

[downdraft]

That is what Paragraph 26 of the Motion says. I think it is meant as a way to pay for the costs associated with Pacific's bid (time spent on investigating, sourcing funds, hiring lawyers and professionals to make up a deal, etc.) There are some contingencies though to get said break up fee that have to be met though.

This - the breakup fee to Pacific is intended to cover costs and act as an incentive to set the opening price when making the stalking horse bid.

 

[thebigo]

Supposedly minutes from a 2019 meeting:

“The first one is Alterra, they possibly have the funds, second is FoSun (privately owned), third is Pacific Group, fourth is two different groups Snow Operating and a fund called Oz, fifth is AWH (privately owned). He (Elander) stated Vail showed no interest in Jay Peak.”

– Walter Elander

Sports News Today | Breaking Headlines | Updated December 17 2022

Sports News Now provides breaking headlines for all major sporting categories, directly to your inbox. Subscribe and get the best content.

sports-news-now.com

 

[cdskier]

Supposedly minutes from a 2019 meeting:

Sports News Today | Breaking Headlines | Updated December 17 2022

Sports News Now provides breaking headlines for all major sporting categories, directly to your inbox. Subscribe and get the best content.

sports-news-now.com

Of course who was interested in 2019 has little bearing on who is interested 3 years later and now that the starting price may be lower than previously expected...

 

[thetrailboss]

Another possibility is KSL Resorts directly. They're in PA with Blue and Camelback, they're not short on cash as far as I know, and they're already directly and indirectly competing with their own Alterra money. Jay is already a resort destination, which is their bread and butter.

KSL is Alterra from what I understand. I believe that it was folded into the Alterra entity. This would be the first time that I have heard that KSL is still an independent going entity. But then again the Aspen Ski Company is a separate going entity from Alterra.

If not, it is a part owner of Alterra (with the Crown family).

 

[cdskier]

KSL is Alterra from what I understand. I believe that it was folded into the Alterra entity. This would be the first time that I have heard that KSL is still an independent going entity. But then again the Aspen Ski Company is a separate going entity from Alterra.

If not, it is a part owner of Alterra (with the Crown family).

KSL is definitely still separate. Alterra is just one of the things they're invested in... https://www.kslcapital.com/investments

Edit...in the northeast alone they own/manage a couple resorts separately from Alterra - Camelback and Blue in PA being 2 notable ones.

 

[drjeff]

Per an update from the Storm Skiing Podcast, it is confirmed that snow operators (the Big Snow operating group) WON'T be on of the 3 groups bidding.

And the initial bidding process will be in increments of 1.175 million dollars starting via Zoom or similar platform at 11AM.

Should in theory know by early afternoon tomorrow who the new owners of Jay are

 

[Smellytele]

My immediate concern is how it will effect my Indy pass.
After that I have concerns of who will have enough money and willingness to improve the skiing experience.

 

[LONGBOARDR]

Big Wednesday at Jay, may the wave continue

 

[Edd]

Big Wednesday at Jay, may the wave continue
View attachment 54743

Now that’s a cast!

 

[urungus]

Please not Vail … Please not Vail … Please not Vail

 

[machski]

My immediate concern is how it will effect my Indy pass.
After that I have concerns of who will have enough money and willingness to improve the skiing experience.

Regardless of who buys Jay, I think at this point they are committed to the Indy this year. Now, the new owners could institue an Indy reservation system. But I would think that would be the extent of things for this coming season.

 

[St Stephen]

Its happening
Definitely not Vail or Alterra

 

[thetrailboss]

Its happening
Definitely not Vail or Alterra

Did everyone here get their bids in? LONGBOARDR we expect that you are in the race.

 

[thetrailboss]

Please not Vail … Please not Vail … Please not Vail

"C'mon. You all know that I AM a nice guy!"

 

[jimmywilson69]

I didn't win the Lottery last week, so I too am out on the bid.

 

[thetrailboss]

KSL is definitely still separate. Alterra is just one of the things they're invested in... https://www.kslcapital.com/investments

Edit...in the northeast alone they own/manage a couple resorts separately from Alterra - Camelback and Blue in PA being 2 notable ones.

Very interesting. Thanks for that clarification.

 

[thetrailboss]

Per an update from the Storm Skiing Podcast, it is confirmed that snow operators (the Big Snow operating group) WON'T be on of the 3 groups bidding.

And the initial bidding process will be in increments of 1.175 million dollars starting via Zoom or similar platform at 11AM.

Should in theory know by early afternoon tomorrow who the new owners of Jay are

Might there be a link so we can watch the fun?

 

[jimmywilson69]

his face is very punchable...