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 30-day Right of First Refusal (ROFR), triggered October 16, 2025, and must decide by November 15 whether to match the offer (“substantially similar”) or waive the right. Exercising the ROFR would then require shareholder approval within 75 days.
Pros: Land conserved in perpetuity at no cost to the Co-op; continued public access likely.
Cons: Permanent loss of ownership and control; future operations limited by the buyer’s easement terms.
Pros: MRG secures full control, preserving autonomy and alignment with its founding vision. Ownership ensures continued recreational access and stewardship flexibility.
Cons: Requires $500,000 down payment and $180,000/year debt service; adds financial and operational risk.
Strong consensus among shareholders to pursue the purchase; a straw poll showed no support for waiving the ROFR. Concerns exist around the anonymous nature of the buyer and lack of binding conservation detail. Many view this as a “once-in-a lifetime” opportunity to secure the mountain’s long-term independence and cultural integrity.
The Co-op is financially stable but faces upcoming capital needs (Stark’s Pub reconstruction, lifts, and grooming equipment). Estimated 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.
1. By November 15 – Co-op Board votes to waive or exercise the ROFR.
2. If exercised, shareholder vote to authorize financing within 75 days.
3. SMF to coordinate with MRG leadership on fundraising strategy, major donor engagement, and communications planning in anticipation of a capital campaign.
This moment represents a strategic inflection point for Mad River Glen. Exercising the ROFR would ensure community stewardship of the mountain’s surrounding lands and safeguard its future character. The Stark Mountain Foundation is positioned to play a pivotal, enabling role in financing and framing this generational opportunity.
Purchasing 1,100 acres of surrounding land — a $2.5 million once-in-a-lifetime opportunity to secure permanent ownership and preserve the unique terrain that offers amazing skiing, snowshoeing and hiking.
Under the Co-op’s Right of First Refusal, we can match the current $2.5 million offer and put this land under our ownership. The Board must act by November 15, and your commitment now will make all the difference.
If we all step forward, this goal is attainable. With 2,500 shareholders, raising $5 million averages about $2,000 per shareholder. Some will give more, some less—but every donation matters. Your participation illustrates that our community stands ready to protect and invest in the mountain we love.
