The ski resort hosting the Olympic downhill events won’t go on the block in a foreclosure auction today as scheduled, winning a one-week reprieve from creditors, a source with direct knowledge of the talks said yesterday.

Creditors of Intrawest, which owns stakes in Whistler Blackcomb resort, the site of downhill events during the Vancouver Olympics, agreed to delay the auction from today until Feb. 26, two days before the end of the Olympics.

The agreement delays the auction until after the marquee men’s combined downhill event, which is scheduled to end on Feb. 22.

Intrawest and its owner, US private equity firm Fortress Investment Group have been haggling with creditors over refinancing the $1.7 billion of debt Fortress took on in buying Intrawest in 2006.