Plans underway to potentially purchase and restart operations at Toggenburg Ski Resort
The Toggenburg Mountain ski resort, located near Syracuse, NY, is on the brink of a change in ownership. A deal is being proposed for the resort to be sold to local businessman Douglas Wheeler, who aims to reopen the facility and relocate some of his other businesses to the property.
Douglas Wheeler, a lifelong Fabius resident, has a personal connection to the Toggenburg property as his great-grandfather sold it to the Hickey family who opened the ski facility. However, the sale has not been finalized yet, as Intermountain Management, the current owner, is appealing the court decision that ordered the divestiture.
The proposed sale price for the ski resort is $1.75 million, down from the original asking price of around $1.995 million. This follows a legal ruling requiring Intermountain to divest Toggenburg due to antitrust concerns after it closed the resort soon after acquisition, allegedly creating a local monopoly on ski passes.
Peter Harris, the president of Intermountain Management, expressed openness to selling the Toggenburg property during a trial. However, it's important to note that Intermountain Management has been ruled by State Supreme Court Justice Robert Antonacci II to have violated the state antitrust law called the Donnelly Act.
Antonacci II has repeatedly expressed his desire for the sale to happen, suggesting that a speedy sale could be considered favorably in the settlement negotiations. He has also suggested that he may consider fining Intermountain Management about $4 million, depending on the speed of the sale.
John Petosa, a lawyer for Wheeler, cautioned that there is not enough time to reopen the mountain for skiing this winter. It could take several months and more than $2 million to prepare the mountain for reopening, according to Wheeler. Despite this, Wheeler remains committed to the project, even if a 2025-26 ski season reopening seems unlikely.
The New York State Attorney General's Office sued Intermountain Management for illegally creating a monopoly in the Syracuse season pass skiing market by purchasing Toggenburg and closing it. The state Attorney General's Office argued that Intermountain's actions led to increased prices and long lines at its other two ski mountains, Song and Labrador.
In summary, the Toggenburg Mountain ski resort has not formally changed ownership yet, but a sale is nearing completion with local businessman Douglas Wheeler as the likely new owner. The sale is being discussed in a hearing before State Supreme Court Justice Robert Antonacci II, who has expressed a desire for a mutually agreeable resolution in the case and for Toggenburg to be sold and reopened.
Douglas Wheeler, the potential new owner of the Toggenburg Mountain ski resort, intends to use the property not only for skiing but also to relocate some of his other businesses, diversifying his investments in the realm of finance and business. Moreover, the sale of the resort could potentially bring about a significant injection of funds into the local sports industry, as the park may attract more visitors and generate revenue.
