Mad River Corporation has received an offer to purchase approximately 1,100 acres of land surrounding the Mad River Glen ski area (the 19th & 20th terrain, a parcel north of Route 17, and across Route 17 from the Battleground) – this land when coupled to existing MRG holdings represents the original land holdings when MRG was founded in 1948. 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 deeded 30-day Right of First Refusal (RoFR), triggered October 16, 2025, that enables the Cooperative to purchase the land on “substantially similar” terms as the original offer. The Cooperative Board held emergency meetings on October 29th and November 10th. At the meetings there was strong consensus among shareholders to pursue the purchase; a straw poll showed no support for waiving the RoFR. Concerns existed around the anonymous nature of the buyer and lack of binding conservation detail. Many viewed this as a “once-in-a lifetime” opportunity to secure the mountain’s long-term independence and cultural integrity.
Financially, the Co-op is stable but faces upcoming capital needs (Stark’s Pub reconstruction, lifts, and grooming equipment). Taking on long term debt to secure the land purchase is not fiscally responsible and puts the Co-op at risk. In broad terms the land 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. The Cooperative weighed the following key considerations:
Pros: MRG secures full control, preserving autonomy and alignment with its founding vision. Ownership ensures continued recreational access and stewardship flexibility.
Cons: Without significant support and fundraising from shareholders and the MRG ski community the purchase will put the Cooperative in financial peril. The Cooperative doesn’t have the ability to support long term debt payments of the magnitude required for this purchase.
The Cooperative Board voted to exercise its Right of First Refusal (RoFR) and committed to raising funds for the purchase at their November 10th meeting. The Cooperative then submitted their substantially similar offer on Friday, November 14, 2025. The Mad River Glen Cooperative (MRG) finalized the purchase & sale agreement on Thursday, December 12, 2025.
This moment represents a strategic inflection point for MRG. Exercising the RoFR ensures community stewardship of the mountain’s surrounding lands and safeguards its future character. The Stark Mountain Foundation is positioned to play a pivotal, enabling role in financing and framing this generational opportunity. Please contact them ([email protected]) with any questions you have in regards to charitable giving.
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, hiking, and wildlife habitat.
Under the Co-op’s RoFR we have matched the current $2.5 million offer to put this land under our ownership. The Board acted by November 14th and now it is our time to make a difference by donating this initiative.
If we all step forward, this goal is attainable. 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.
Please see our Frequently Asked Questions (FAQs) page for further information or contact us directly at: [email protected]
