Might Redford unload his Sundance Resort?

PROVO — Reports that Robert Redford is shopping his share of a cable-network channel has caused speculation that dark clouds looming over the Sundance Kid's financial picture could lead to the sale of his popular Provo Canyon resort.

Representatives for Redford's ski resort rebutted Monday a New York Post item that said Redford wants to sell his $60 million-plus stake in the Sundance Channel to fellow shareholders NBC or Viacom because he is "extremely involved in restructuring his investment portfolio and is working on restructuring his resort."

"He's had huge financial problems over the years," the source told the New York tabloid, which printed the story Thursday.

The Post names the 450-acre resort as the prime source of Redford's financial woes, a claim that stumps Sundance spokeswoman Lucy Ridolphi.

"We've actually had a good year," Ridolphi said. "We've been doing really well."

Though Ridolphi said she isn't privy to Redford's personal finances, she said the ski resort is financially secure and has no plans to scale back its operations.

Last winter's abundant snowfall, combined with an aggressive ad campaign, tripled Sundance season-pass sales and kept the slopes packed for most of the ski season, said ticket-sales manager Czar Johnson.

"We had one of our best seasons in history," Johnson said. "We had a record number of skier visits this year."

Neither Ridolphi nor Johnson had heard about Redford's plan to liquidate his 20 percent share — estimated to be worth between $60 million and $80 million — in the film channel.

Redford launched the channel, which features independent films and documentaries, in 1996.

Ridolphi doubted that the profit or loss situation at Redford's ski resort, which operates as a separate entity, would have prompted negotiations for any sale of his shares.

A spokesman for the Sundance Channel declined to comment when asked about any potential sale of shares.

Redford — made famous by such films as "Butch Cassidy and the Sundance Kid," "The Sting" and "All the President's Men" — bought the resort, which was then called Timphaven, in 1969.

Since, the Academy Award-winning director has turned the resort into a retreat known for being environmentally friendly.