David Zaslav’s Summer Camp Dreams Fizzle Out
Warner Bros. Discovery chief executive David Zaslav has lost his bid to buy Mohawk Day Camp and its affiliated preschool, Mohawk Country Day School, in Westchester County, New York, after being outbid by private equity firm FitzWalter Capital Partners at a bankruptcy auction. Zaslav had entered the process as the stalking horse bidder through his personal investment vehicle Grandview Ventures, citing a family connection to the camp, which his now-adult children had attended as youngsters. The sale forms part of the wider Chapter 11 bankruptcy of a summer camp holding company built up by two brothers who had accumulated significant debt while acquiring dozens of camps across the country.
Zaslav's Grandview Ventures initially offered $68 million (£53.6m) for the property, and court filings show he raised his bid during the auction itself before ultimately being beaten. FitzWalter Capital Partners won with a final offer of $120.75 million (£95.2m) for the camp's assets, which include almost 39 acres of land, a $250,000 playground and a performing arts centre. It remains unclear whether FitzWalter intends to keep Mohawk operating as a camp or redevelop the site, given its prime location near New York City makes it attractive for residential or commercial use; a bankruptcy judge is expected to approve the winning bids next week.
- Zaslav lost the Mohawk summer camp bankruptcy auction to a private equity firm.
- FitzWalter Capital Partners won with a $120.75m bid, far above his $68m offer.
- Camp's future use—continuing as is or redevelopment—remains unclear pending court approval.
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Warner Bros. Discovery's boss, David Zaslav, tried to buy Mohawk Day Camp and its attached preschool in Westchester County, New York, a place his own children once attended. He made his move through a personal investment vehicle called Grandview Ventures, entering the sale process as the initial bidder whose offer set the floor for others to beat.
The sale came about because the company that owns Mohawk and dozens of other camps across America had built up heavy debts and filed for Chapter 11 bankruptcy, a legal process that lets a struggling business sell off assets under court supervision to pay its creditors. That put Mohawk up for auction, opening the door for outside buyers to compete for it.
The camp sits on nearly 39 acres close to New York City, making it valuable not just as a summer camp but potentially for housing or commercial development, which is part of why buyers were willing to pay so much for it.