RANGELEY — The foundation that once raised money to buy the idle Saddleback ski area is working to position itself in the event a deal with the current purchaser falls through.

The Saddleback Mountain Foundation’s board said Monday that Wolfe Tone has replaced Peter Stein, who stepped down recently.

The announcement comes after WCSH-TV revealed an audiotape in which an Australian businessman who plans to buy the mountain is heard saying he “wouldn’t lose any sleep” if it remains closed.

Sebastian Monsour, group CEO for the Majella Group, has refuted the report, which suggested he was more focused on using the mountain as a pathway to permanent residency through the EB-5 visa program.

The Saddleback Mountain Foundation is not actively engaged in negotiations with the mountain’s owner. But the foundation continues to meet regularly.