A potential new buyer is fueling renewed hope that Maine’s Saddleback Mountain could reopen.

According to an article on PressHerald.com, a Boston investment firm has made an offer to buy the Rangeley, Maine ski resort, which as been closed for four years. When it was open, Saddleback was Maine’s third-largest ski resort.

The group is pledging to invest $25 million to $30 million after the sale to help restart the resort.

Arctaris Impact Fund reportedly made the offer. Andy Shepard, CEO of the Outdoor Sport Institute, and Tom Federle, a Portland attorney, have reportedly been working with Arctaris to try to purchase the ski area.

Read more about a potential new buyer for Maine’s Saddleback Mountain.