Cycling legend LeMond plans bid with in-laws for prime tract inside Montana millionaires club

By Matthew Brown, AP
Friday, January 29, 2010

Cyclist LeMond plans bid for Yellowstone Club land

BILLINGS, Mont. — An attorney for Greg LeMond says the three-time Tour de France winner and his in-laws plan to bid on a large parcel of land at Montana’s exclusive Yellowstone Club.

The owner of the 160-acre tract near Yellowstone National Park, club co-founder Edra Blixseth, filed for bankruptcy protection and must sell the so-called “Family Compound.”

The trustee overseeing Blixseth’s estate was in court Friday seeking approval to sell to CrossHarbor Capital Partners of Boston for $8.5 million.

But the LeMond parties hold a $13.5 million lien on the property after settling a lawsuit with Blixseth and her ex-husband. They say the deal significantly undervalues the property.

U.S. Bankruptcy Judge Ralph Kirscher said he would consider delaying the sale process so LeMond and his in-laws can bid.

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