Intrawest to be paid after Games

[daleo]

Olympics organizers in Vancouver are on the hook for millions of dollars to pay Intrawest ULC for use of Whistler Blackcomb, but a payment to the heavily indebted resort company isn't expected until well after the final gold medal is awarded.

The payment is the "make whole" element of a long-standing agreement between Intrawest and VANOC to use Whistler Blackcomb north of Vancouver as an Olympic venue. A part of Whistler Mountain hosts alpine ski races this month, and the bobsled-luge-skeleton track is near the base of Blackcomb.

Such "make whole" deals are typical between Olympics organizers, winter or summer, and privately owned facilities.

While the exact money involved hasn't been disclosed, it will be "millions of dollars," Vancouver Organizing Committee deputy chief executive officer Dave Cobb said last October after the organization put out its annual report.

http://www.theglobeandmail.com/news/national/intrawest-to-be-paid-after-games/article1454254/
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They will try to keep this hush hush. It's bound to be for big money, though.

[HeresyLives]

1. I'm gonna assume Intrawest is too smart to fall for this.

I've been wrong in my assumptions of intelligence before tho. :)