Posted January 26, 2010 by

Olympic Venue in FORECLOSURE?

With the 2010 Winter Olympics set to kick off in a just a few short weeks, the organizers of possibly the biggest event to occur this year have some serious obstacles to overcome concerning one of their ski venues. Whistler Blackcomb, the official ski resort for the 2010 Olympics in Vancouver, missed a mortgage payment in the past couple weeks ( the payment was right around $524 million dollars ).

This news comes less than one month from the lighting of the Olympic Flame on Feb. 12, 2010. Intrawest, the debtor, purchased the resort from Whistler Mountain Ski Corporation in 1997.

Whistler Blackcomb is the largest ski area in North America with more than 8,000 mountainous acres.  It will host the alpine skiing events, as well as bobsled, luge and skeleton.

Even though the creditors have the option to auction Whistler Blackcomb on Feb. 19 (right in the middle of the games) , it should not have any impact on the actual events that take place during the XXI Olympic Winter Games (we sure as hell hope not). Can you imagine an auction block being thrown up in the middle of the games to sell of the property?? Ha, I am sure it is something we would all like to witness, but I seriously hope they can work out a deal before auctioning off a ski mountain during the Olympic games this year.