The popular Jay Peak resort in Jay, Vermont may soon have a new owner, our sister station WPTZ-TV reports.
The property is set to go up for auction Wednesday and at least three potential buyers are expected to bid on it. The ski area, which has been on sale for years, has received multiple deposits since an initial bid of $58 million came in from Pacific Group Resorts at the beginning of August.
Jay Peak has been under receivership after the property became embroiled in a scandal involving former owner Ariel Quiros and resort president Bill Stenger. The pair was accused of running a complex, "Ponzi-like" scheme concerning real estate deals starting in 2008.
The auction was closed to the public and the final decision will be made by a court-appointed receiver Michael Goldberg.
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Steve Wright, president and CEO of Jay Peak Resort, tells WPTZ-TV that a change in ownership should not affect winter operations and that employees should feel secure in their jobs given the labor market.
"Being an 'independent resort'... doesn't really mean anything,” Wright told the station. "It's how a resort chooses to operate itself; you can be part of a bigger ski resort holding company and operate yourself in a way that your guest falls in love with the way that you do things and stays in love with it."
Bigger companies may be showing interest. Seven other mountains in Vermont are owned by big ski area companies.
"Jay Peak is a unique place, it has a vibe like nowhere else. We've all been concerned with how this whole transition is going to happen," Rich Citro, a Jay Peak condo owner, said.
