One of Utah's biggest ski resorts to pay $17.5 M bond to stay open this upcoming ski season

Industries Associated Press

One of Utah's largest resorts will open its slopes this upcoming ski season after agreeing to pay a $17.5 million bond that a judge said it must pay to keep the slopes open.

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Park City Mountain Resort spokesman Andy Miller said Tuesday the resort has agreed to pay the money to ensure it can open for a 51st straight season.

The resort was in danger of closing this winter due to a long-running court battle with another major ski industry company.

A judge ordered the resort evicted in May after ruling it missed a deadline to renew a bargain-rate, decades-old lease it got from a mining company.

Its new landlord, real estate company Talisker, last year lined up a replacement: Vail Resorts, Inc., the country's largest ski resort operator.

Mediation between the two sides is ongoing.