Vail Resorts

Leslie Thatcher asks the Mayor of the town of Vail - and former President of Vail Resorts - if Vail Resorts will be the new 500 lb gorilla in town, now that Vail Resorts has purchased Park City Mountain Resort.

  As the town reacts to this morning’s news of Vail’s $182.5 million cash purchase of Park City Mountain Resort, reactions are varied.  Lynn Ware Peek has more.

After a 20-year run operating Park City Mountain Resort, the resort's owner Powdr Corp. sold its flagship ski area for $182.5 million to Vail Resorts today. Leslie Thatcher has more.

While it’s something he never hoped to do, John Cumming the CEO of Powdr Corp. emailed the sale announcement just five minutes before the news of the acquisition came from Vail Resorts headquarters.

Now, instead of paying out $17.5 million required by the bond that set by the judge in order to operate this winter, Powdr Corp. will have nine times that amount in its bank account.

SOLD!

Sep 11, 2014

Powdr Corp. has sold its flagship resort, Park City Mountain Resort to Vail Resorts, effectively immediately. This includes the base area, the parking lots, lower ski terrain, chairlifts as well as the water and snowmaking for the entire mountain. A purchase price wasn't reported.The agreement stipulates that Vail must retain PCMR employees in their current roles.

More details at today's Local News at Noon, starting at 12:06 PM on 91.9 & 88.1 FM and streaming live here.http://kpcw.org/player#stream/kpcw

On the verge of the Labor Day weekend, both sides in Park City’s ski resort fight say they are continuing to mediate.

The mediation deadline has been extended twice , most recently till 5 p.m. on Friday.    John Lund , the counsel for Talisker and Vail, said in an e-mail this afternoon that the deadline has been extended to 10 a.m. on Sunday, and he added the parties are continuing to work together in good faith.

Listen to the live recordings of the attorneys for Park City Mountain Resort and Judge Ryan Harris from Wednesday's hearing . Both sides were presenting their argument on what the bond amount should be for PCMR to open the ski resort this winter.

Part 1

Part 2

Part 3

Part 4

Part 5

Part 6

Judge Ryan Harris chose not to render a decision yesterday, instead choosing to meet again at 1 PM Wednesday, September 3.

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After three hours of oral arguments between the two sides in Park City's ski resort fight, Third District Court Judge Ryan Harris said he wasn't able to come up with a ruling today.

The judge said he will render a decision next week, Wednesday, September 3.

The judge was asked to set a bond amount that the Park City Mountain Resort would have to pay so it could putt off an eviction, and continue operations this winter on a 3,000-acre ski hill owned by Talisker Land Holdings.

With a critically important hearing set for Wednesday in Park City's ski resort fight, both sides fired off one more volley at each other, via written agreements submitted last Friday.

Third District Judge Ryan Harris will be asked tomorrow to set a bond amount Park City Mountain Resort has to pay to fend off eviction and operate for the upcoming ski season.

The major dispute is setting a value for the 3,000 acres of ski mountain, owned by Talisker Land Holdings and leased in the past by PCMR. The argument has often center on whose property is dependent on who?

The two disputing ski resort giants, Vail Resorts and Park City Mountain Resort, continue to mediate and have asked the court's permission to keep meeting through the rest of the week. KPCW's Leslie Thatcher has more.

In an op-ed published Sunday in the Satl Lake Tribune, Jack Gallivan Jr. and Mickey Gallivan, whose father helped launch what is now Park City Mountain Resort, wrote that Park City's ski resort fight must be resolved.

While they plead with both sides to find a solution, most of the criticism in their guest editorial is aimed at Talisker and Vail Resorts. Rick Brough has more.

In a joint statement issued Friday, Park City Municipal and Summit County have urged all sides in Park City's ski resort fight to cooperate and end uncertainties about the upcoming ski season.

Meanwhile, in the statements issued last week, Park City Mountain Resort and Talisker/Vail indicated they still sharply disagree on the amount of a bond PCMR should post in order to put off an eviction. Rick Brough has more.

Friday is the deadline for PCMR and Talisker/Vail to finish up court ordered mediation between the ongoing battle over the ski terrain of the Mountain Resort, but both sides are now asking for more time. Lynn Ware Peek has more.

Park City Mayor Jack Thomas says that the moment of truth is arriving in the city's ski resort fight. And it's time for the Park City Mountain's Resorts and Vail Resorts/Talisker to find a workable solution to their dispute.
That comes with just one day left before the court-ordered mediation period for the two sides officially run out. Rick Brough has more.

Third District Court Judge Ryan Harris ordered both sides in Park City's ski resort fight to prepare briefs by Friday on how to calculate a financial bond for Park City Mountain Resort to pay. The bond payment could determine if PCMR will be open this winter.

The disagreement over the bond amount centers on what rent PCMR owes, culminated over the past few years,  to Talisker, the ski hill's current owner. Both sides have told a different story about the overdue rent in recent letters to Park City Municipal. Rick Brough has more.

Comments made on the KPCW Local News Hour by Park City's mayor and city manager last week were the impetus for another round of letters from attorneys representing Talisker/Vail Resorts. Park City Mountain Resort and Park City Municipal. KPCW's Leslie Thatcher reports.

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