Paul, you obviously do a great job trying to make sure users take reports like this with a grain of salt. And in the case of the recent speculation about Gillett, that’s probably fair.

But I just wanted to tell everyone to go ahead and do a quick Google search about the financial problems Gillett and Hicks have had as owners of Liverpool FC over the last year+ that they have “owned” the club.

I follow the English Premier League almost as hard as a follow the NHL. And I can tell you that if you do that Google search, you’ll see why this speculation won’t go away. Gillett has a massive debt to get out from under, and as the Sportsnet article says, this is with regards to LFC since he put his stake in the club up as collateral.

Now, I love the NHL more than soccer, that is for sure, but another thing is for sure—world soccer—especially the English league—is much more profitable, and will continue to be even in tough economic times, than the NHL is.

So, do NOT be surprised if George Gillett truly is trying hard to sell the Habs because he NEEDS that money to keep from losing his share of LFC (not to mention… his credit and credibility as a businessman would take a huge hit). In the long run, I have a hard time imagining a world where the Habs franchise is more profitable and lucrative than LFC is. It’s just the truth of the matter.

Now as a Liverpool supporter… I wouldn’t mind if he were forced to sell his share in LFC instead—he’s been a poor owner and clearly bit off more than he could chew getting into the Premier League. It’s more cut-throat than any other sports league in history. No salary caps, no real restrictions on player movement, outside of typical transfer windows (when players can be moved—similar to the NHL trade deadline) and EU laws.

Let me just say that yes, I am speculating. I don’t want to sound like a certain hockey blogger and cause any trouble for my speculation, so let’s be clear that this is all I’m doing. I’m simply saying that given Gillett’s situation with LFC and his massive debts, we should take ANY discussion of him selling the Habs very seriously. Doesn’t mean it’ll happen, but I’d be shocked if it’s not a possibility that is actively on the table right now, given the circumstances.

Posted by Nathan on 12/04/08 at 03:42 PM ET

If he is such a terrible owner for LFC, maybe that would be a reason to sell it, especially considering how you’ve painted him and that League. The Canadiens may not be more profitable, but they are profitable, and it sounds as though they are far more stable, far closer to home, and far easier to work a profit from. But that’s just one thought.

The easiest way to tell if a franchise is for sale is if Balsillie is knocking on the door; there is no potential owner out there more passionate, more dedicated, and more financially secure when it comes to the subject of NHL franchise ownership, and after years of working quietly in the background, he has made no secret of his more recent attempts to acquire the Penguins and Predators.

I count two ‘P’s; could a third attempt target a third ‘P’? Sometimes you just have to find the amusing coincidences

Posted by SENShobo from Waterloo, ON on 12/04/08 at 07:47 PM ET

If he is such a terrible owner for LFC, maybe that would be a reason to sell it, especially considering how you’ve painted him and that League. The Canadiens may not be more profitable, but they are profitable, and it sounds as though they are far more stable, far closer to home, and far easier to work a profit from. But that’s just one thought.

I definitely see what you’re saying, SENShobo. I’m not sure if you’ve followed the LFC situation. There is one wrinkle to this situation that would make it more lucrative for Gillett to sell the Habs than his stake in LFC—not just the fact that English Premier League soccer is a better long-term (and even short term) investment.

That wrinkle is this—Gillett and Hicks have not gotten along as co-owners of LFC. There have been reports of both men trying to sell their share at points. However, the agreement they entered into when they co-purchased the club was that the other couldn’t sell their shares unless the buyer was approved by the other… almost like a horrible suicide pact in business!

So, since they’re pissed at each other, and since they have this stupid agreement of veto power on the other’s sale of shares, they can hold each other hostage with LFC. It appears that Gillett’s share of LFC is on shakier ground than that of Hicks, so Hicks can essentially veto any sale of Gillett’s shares to force Gillett to either give into the feud, and do whatever Hicks wants, or force him into being unable to repay his massive loan without coming up with a ton of cash—which could be done by selling the Habs.

Again, I understand that this is speculating. I’m just simply letting hockey fans know that there’s actually some good reasoning behind the speculation. So, don’t be surprised if this talk of him selling the Habs actually turns into something. I have a feeling that Gillett will do what he can to keep the Habs, just don’t be too surprised at any outcome this situation finds.

Posted by Nathan on 12/05/08 at 04:21 PM ET