Squaw Valley the ex-Olympic site sold to Denver company

A Denver, Colorado-based company is buying Squaw Valley USA and has pledged to pump $50 million into renovating the ski resort. KSL Capital Partners, LLC announced Tuesday they have acquired all shares, and expect the sale to be final before the end of the year. Squaw Valley is the former site of the 1960 Olympic Winter Games near Lake Tahoe; consisting of 4,000 acres and 2,850 vertical feet of skiing and riding spanning 6 peaks.

Whistler Blackcomb, the Canadian ski resort that will host some of the Winter Olympic Games next month, could be sold off in a struggle between Wall Street bankers and a private equity firm over the renegotiation of hundreds of millions of dollars in loans. Lenders to Fortress Investment Group, a leveraged buyout group, have posted notices of foreclosure in several North American newspapers, announcing a public auction of the assets of Intrawest, the Whistler Blackcomb resort operator.