Londonderry’s Magic Mountain recently “sold” its 333th share. That was the, well, “magic number” needed to begin the 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. 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. This winter marks 50 years of peak to bottom skiing at Magic dating from 1962.
MAGIC MOUNTAIN SELLS OUT OWNERSHIP SHARESby
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