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Canadiens Could Sell for Over $500M
by Paul on 06/19/09 at 04:33 PM ET
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from Daniel Kaplan of SportsBusiness Journal (Monday, June 22nd edition),
An agreement to sell the majority ownership of the Montreal Canadiens and the Bell Centre for between $506 million and $537 million (U.S.) could be announced as early as this weekend, according to financial and other sources familiar with the bidding process. It’s also possible that owner George Gillett will decide to sell only a minority share of the team and its arena, one of those sources said.
Gillett owns 80 percent of the Canadiens. Molson, which owns the remaining 20 percent, would retain its stake after a sale by Gillett.
Any decision this week would come as Montreal prepares to host the NHL draft on Friday and Saturday. The league’s board of governors is meeting in Montreal in advance of the draft, as well.
continued (hopefully the link stays live, I normally don’t see SBJ making links available so early)...
Filed in: NHL Teams, Montreal Canadiens | KK Hockey | Permalink
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