Bronfman, Saputo Reportedly Team For Largest Canadiens Bid

French-language newspaper Le Journal de Montreal is reporting that local businessman Stephen Bronfman and the Saputo family have teamed up to bid for the Canadiens, according to Frederic Tomesco of BLOOMBERG NEWS. Le Journal cites sources as saying that the consortium's offer for the team, Bell Centre and Canadiens Owner George Gillett's concert-production business "may be worth as much as" $450M (all figures Canadian), which would be "more than any other bid" BMO Capital Markets has received for the team. The bid allegedly is led by Bronfman and USL Montreal Impact Owner Joey Saputo (BLOOMBERG NEWS, 6/12).

NEED A HAND? CANWEST NEWS SERVICE's Marianne White notes the Quebec provincial government Thursday said that it "wants to see Quebecers regain control" of the Canadiens and offered a $100M loan to "any Quebec-based consortium interested in buying the hockey team." Quebec Premier Jean Charest stressed that the province is "encouraging local buyers, but it will not try to prevent a sale to bidders from abroad." Charest: "No one will be stopped or blocked. This is about the business of sports, not about sports business. In that respect it's normal for us to be there for a Quebec group." Charest added that the loan to Quebec groups "will be offered at commercial rates." Charest: "We are doing this because it is not easy to get access to credit, given the current economic situation" (CANWEST NEWS SERVICE, 6/12).

MEDIA BUY: In Montreal, Pat Hickey notes of the six reported bidders for the Canadiens, "only two have been publicly identified and they are the frontrunners -- brothers Geoff, Andrew and Justin Molson and a group fronted by" Quebecor Media Inc. President & CEO Pierre Karl Peladeau. But Quebecor's "vision for the team is a bit scary," as the company "sees the Canadiens as a small cog in a multi-media universe, a product to be delivered through cable TV, mobile phones and Internet streaming." Hickey notes Quebecor "pledges to deliver the Canadiens to all Quebecers, but neglects to tell us how much we will pay for this access" (Montreal GAZETTE, 6/12).

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