Colorado

Mar 27, 2014 10:23 AM by Adam Atchison

Vail offers to buy base Park City base area assets

DENVER (AP) - Vail Resorts is offering to buy base area assets from Park City Mountain Resort in the midst of a legal dispute over the lease to the rest of the resort.

The Denver Post reports that Vail Resorts chief Rob Katz sent a five-page letter to Park City chief John Cumming this week offering to pay fair market value for assets to help it operate the adjacent Canyons resort.

The chief of Park City's parent company Powdr Corp., John Cumming, said Wednesday the company wouldn't agree to a "Vail takeover."

Most of Park City's land is owned by Canada-based Talisker Corp. as is Canyons. Vail took over the lease dispute when it took over as operator of Canyons last March. The dispute is scheduled to go to court next week.

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