They said the main problem is the golf course is no longer a part of sugar loaf
This is not to be understated. Even in a good season that spans the entire months of December, January, February and April, that is only 1/3 of the year, and during that time there are maybe 3 "money" weeks (spring break/midwinter break, Christmas), and a few weekends where you might reasonably expect to be at full capacity. Otherwise, you only make money on the weekends: midweek turnout at these resorts up north is basically non-existent, although again proximity to TC and the recent troubles at Mt. Holiday, Sugar Loaf might fare better; but then there's the "snowboarder" angle. If you create the anti-Deer Valley, you're basically alienating 50% of your potential customers. Now maybe that's not what they're going for but creating a resort that is focused primarily on its park also alienates pretty much anyone over 25, i.e., anyone with disposable income.
The resort was listed at $5.7MM. I have no idea what the sale price was. But suffice to say it was in the several millions of dollars, Vail is pumping $10MM in to Brighton to rehab the facilities, grooming, snowmaking, equipment, etc.; Sugar Loaf is 4x as many acres and includes amenities like on-site lodging that aren't available at Brighton. Also, while Brighton was a crap-hole, at least it was operational if not outdated. Sugar Loaf's hardware has been rotting in the elements, it's unlikely that much of what's there is salvageable after a decade of neglect. Chairlifts, drainage/conveyance of H20 for the snow guns, etc., are huge costs. Etc.
I'm still skeptical.