Fortress Investment Group, the parent company of Whistler-Blackcomb owner Intrawest, is reportedly trying to fight off foreclosure by offering cash to lenders, according to sources quoted in the New York Post. On top of that, they’re trying to get $90 million which they say the Canadian government owes them.
Fortress says it is negotiating with the Canadian government, which it says promised to make it whole for the time Whistler/Blackcomb mountain is used for the Olympics. Intrawest is trying to get roughly $90 million, and wants to be paid before the Games start on Feb. 12, a source said. . . If it does not get paid, Fortress plans to start legal proceedings, the source added. It is unclear if that could disrupt the Winter Olympics.
It appears that even the Winter Olympics have some high hurdle events.
[Link: New York Post]
