After years of being in limbo following legal trouble for its previous owner, Burke Mountain Resort in Vermont has reportedly been sold to a new owner with big plans for the resort.
U.S. District Court Judge Darrin Gayles yesterday approved the sale of Burke Mountain Resort to Bear Den Partners, LLC for $11.5 million, according to Vermont Business Magazine.
The resort’s future has been clouded with uncertainty since 2016 when the United States Securities and Exchange Commission announced it was bringing fraud charges against and freezing the assets of Vermont’s Jay Peak Ski Resort and Burke Mountain Resort, saying the resorts’ owners engaged in a massive fraud scheme for years.
In 2018, former co-owner Ariel Quiros and the federal government reached a settlement.
Members of the new ownership team, which includes the family that runs Berkshire East Ski Resort, have indicated they hope to make big improvements in their first two years, with many improvements targeted for next ski season.
The group reportedly plans to increase snowmaking capacity, add more top-to-bottom trails, build out an intermediate terrain area, add bike trails, and more.
