Molson Coors Sells Part Of Canadiens Stake To Majority Owner
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Molson Coors Sells Part Of
Canadiens Interest To George Gillett
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Canadiens Owner George Gillett has purchased part of Molson Coors’ stake in the
team for $36.1M, according to David Milstead of the ROCKY MOUNTAIN NEWS. As part
of the deal, Molson Coors, which still owns 19.9% of the common shares in the
team, “has been released from an obligation to guarantee the bank loan Gillett
took out to buy” the Canadiens from Molson in ’01. Molson spokesperson Paul de
la Plante said, “We’re totally and fully committed to maintaining our share. We
have full confidence in the Gillett group, the way they run the team both financially
and on the ice. We’re as much behind the Canadiens as we’ve ever been.” NHL Group
VP/Media Relations Frank Brown said that the league’s BOG “has already approved
the transaction” (ROCKYMOUNTAINNEWS.com,
8/10).
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