The "biggest stumbling block" in the deal to sell the
Canadiens and the Molson Centre "appears to be" the "pitiful
financial performance of the Molson Centre," according to
Jan Ravensbergen of the Montreal GAZETTE, who reports that
"the fate" of the team "will be left dangling for several
more weeks at least" after Molson announced that sale talks
will continue for "an unspecified period beyond" December
31. Molson VP/Corporate Affairs John Paul Macdonald said
"three or more" groups are in negotiations with Molson. The
groups are either "companies, consortiums or high-net-worth
individuals." Macdonald "refused to name" any of the
groups, but did say that the team and arena "could end up
being owned by separate parties." Macdonald "refused to
predict whether a deal could be announced even by the end of
January, or to provide details on the specific stumbling
blocks" (GAZETTE, 12/19). Macdonald: "We're negotiating
with at least two separate parties and by that I don't mean
one consortium that includes six different parts. These are
at least two separate parties" (Tor. GLOBE & MAIL, 12/19).
LEDECKY BACKS OUT: In DC, Jason La Canfora writes that
Lincoln Holdings partner Jonathan Ledecky said that he is
"no longer involved in an effort" to buy the Canadiens, but
did "acknowledge" an earlier effort to "procure a majority
share." A Montreal TV reporter obtained a letter dated
November 30 that outlined a possible sale. But the letter
was never signed (WASHINGTON POST, 12/19). In Montreal, Jack
Todd cites a Montreal TV source as saying that Molson's
Macdonald visited the TV station yesterday "to plead with"
execs not to air a report that a deal to sell 80.1% of the
team to Ledecky for C$100M "was off." Todd writes that the
report "tends to undermine Molson's negotiating position as
it attempts to find other buyers for the franchise." The TV
station "refused" to hold the report (GAZETTE, 12/19).
