STEAMBOAT SPRINGS, Colo. – A judge ruled Tuesday that American Skiing Co. did not breach a contract when it decided not to sell the Steamboat ski resort to a group of Vermont-based investors.

Triple Peaks LLC of Ludlow, Vt., sued American in April after its attempt to buy Steamboat for $91.4 million fell through. American decided to keep Steamboat and instead sell its Heavenly ski resort in California to Vail Resorts.

Triple Peaks wanted a judge to force American to carry through and pay unspecified damages.

American, based in Park City, Utah, argued that it owed only a $500,000 penalty specified in the contract.

Routt County District Richard Doucette sided with American. “The [contract] language is crystal clear,” his ruling said. Steamboat Ski & Resort Corp. president Chris Diamond welcomed the ruling.

“This is great news in that we are now able to move forward without any uncertainty regarding ownership of the resort,” he said.

Tim Mueller, one of the investors in Triple Peaks, said he had not seen the decision. “If its negative, I’m very, very disappointed,” he told The Steamboat Pilot & Today newspaper.

Mueller and his wife, Diane, own Okemo Mountain Resort in Vermont and operate Mount Sunapee Resort in New Hampshire.

American Skiing owns Killington and Mount Snow resorts in Vermont, Sunday River and Sugarloaf/USA in Maine, Attitash Bear Peak in New Hampshire and The Canyons in Utah as well as Steamboat.