Ski racers, snowboarders challenge sport's governing body to reconsider lucrative investment chance

DENVER (AP) — A group of high-profile ski racers and snowboarders, along with executives and board members, are challenging their sport’s governing body to reconsider a lucrative investment opportunity that could be worth more than $400 million. The International Ski and Snowboard Federation was approached on Nov. 30 with a lucrative proposal from CVC Capital Partners, a company that’s invested over the years in Formula 1, soccer teams, rugby and women’s tennis. Titled “Project Snow,” CVC was offering an approximately $420 million investment for a 20% shareholding in the commercial rights of snow sports ranging from snowboarding to cross-country skiing to Alpine skiing.