Potential new owners for Jay Peak Resort have emerged, but according to general manager Steve Wright, there’s still a long way to go before the Vermont ski resort is actually sold.
Burlington’s WCAX-TV reported that Pacific Group Resorts (PGRI) has made an offer of $58 million for the four-season resort in the Northeast Kingdom. Other prospective buyers now have 10 days to match that offer before a judge rules on the sale.
The ski area, which has been on the market for about three years, has been overseen by a court-appointed receiver since investor fraud allegations were made against past owner Ariel Quiros in 2016. Jay Peak is the largest taxpayer in Jay, Vt. About 550 people live in the municipality, located a stone’s throw from the Canadian border.
Quiros reported to a federal prison in Florida last month to begin serving five years.