Magic Mountain, in Londonderry, Vt., recently “sold” its 333th ownership share. That was the, well, “magic number” needed to begin a new skier-based ownership entity.
The Magic Partnership LLC. shares were sold for $3,000 each, raising just under $1 million. Most of the capital will be used to improve snowmaking capacity.
"This is a monumental step in bringing reliability and stability to Magic Mountain,” Jim Sullivan, current president, owner and operator told SnoCountry.com. “It demonstrates the passion and commitment of our core supporters here whom we have dubbed 'The Magic Faithful'. I can't thank them enough.
“Our primary focus when employing these funds will be on the snowmaking system in order to make even more of Magic's legendary terrain available during the season so that enthusiasts and families can consistently experience a true alternative right here in southern Vermont," Sullivan told us.
The remaining 33 shares were bought since the new year began. Three hundred shares was the legal requirement to access any of the capital. The new entity will be a cooperative partnership between the current operator and owners and the new skier-community based shareholders
Shareholders will elect three of the five board members. The other two board seats will be held by Jim Sullivan, and Tom Barker, another current owner.
Hans Thorner, a Swiss-born ski instructor, founded Magic in 1960. He chose Glebe Mountain because it reminded him of Swiss valleys where terrain headed in various directions from the lifts.
This winter marks 50 years of peak to bottom skiing dating from 1962. Magic has held true to the original Vermont ski culture where, as they say, “skiers enjoy natural, diverse ski terrain by being first and foremost a ski area, not a resort.”
Photo: Magic Mountain, Vermont