Whistler owner wants Ottawa to pay $90M US: report

[daleo]

The Canadian government denies that it is negotiating a payout to the owners of the giant ski resort and Winter Olympics venue, Whistler Blackcomb.

The New York Post reported Monday that the parent of Intrawest ULC, the company that owns one of the venues for the Vancouver Winter Olympics, wants the Canadian government to put up $90 million US before the Games start or it will sue.

The Post reported the parent firm, Wall Street hedge fund Fortress Investments LLC, is negotiating with the Canadian government, with the report quoting Fortress as saying Ottawa had promised to compensate it for the time Whistler Blackcomb is used for the Olympics.


http://www.cbc.ca/canada/story/2010/02/01/nypost-report-fortress-intrwest.html

[HeresyLives]

1. And what better time to ask, eh?

:rofl:

[daleo]

2. I wonder if they will settle for a lousy $90 million?

It could prove to be interesting. My hunch is that the payoff will be indirect and hidden, but these guys will get plenty of dough. Someone spotted a flaw long ago in the deal, and has been holding back for just the right moment.