Opening section of article on MRG's site:
20th Hole Land Acquisition
Overview
Mad River Corporation has received an offer to purchase approximately 1,100 acres of land surrounding the Mad River Glen ski area. The current ownership of the land has received an offer to purchase 1,100 acres of land surrounding our ski area, including the 19th & 20th terrain, a parcel north of Route 17, and across Route 17 from the Battleground. The offer price is $2.5 million from Lyme Mill Brook LLC, an anonymous family foundation managed by Lyme Timber Company.
The Mad River Glen Cooperative (MRG) holds a deeded 30-day Right of First Refusal (ROFR), triggered October 16, 2025 that enables the Cooperative to purchase the land on “substantially similar” terms as the original offer. The Cooperative Board held emergency meetings on October 29th and November 10th.
At the meetings there was strong consensus among shareholders to pursue the purchase; a straw poll showed no support for waiving the ROFR. Concerns existed around the anonymous nature of the buyer and lack of binding conservation detail. Many viewed this as a “once-in-a lifetime” opportunity to secure the mountain’s long-term independence and cultural integrity.
Financially, The Co-op is stable but faces upcoming capital needs (Stark’s Pub reconstruction, lifts, and grooming equipment). Taking on long term debt to secure the land purchase is not fiscally responsible and puts the Cooperative at risk. In broad terms the land acquisition cost equates to roughly $1,000 per shareholder. Fundraising mechanisms discussed include borrowing, donor gifts, bond issuance, or new share offerings. The Stark Mountain Foundation has offered to partner with MRG to raise funds, leveraging prior campaign infrastructure, 501(c)(3) status, and capacity for stock and corporate match gifts. The Cooperative weighed the following key considerations.
https://www.madriverglen.com/20th_land_acquisition/
