Molsons Eye More Money From Canadiens Partners To Fund Bid

Molsons Plan To Finance Canadiens Bid With Existing Business Partners

PARTING IS SUCH SWEET SORROW: Gillett yesterday said the day he agreed to sell the Canadiens was "just about the toughest day of my life." The GLOBE & MAIL's Stephen Brunt writes during his eight-year ownership, Gillett "won the locals over, charmed them, made them understand the team was in good hands." By "treating ownership of the franchise like a trust, by stepping back and declining to impose himself on its day-to-day operation, he seemed the opposite of the meddling owner." Gillett's time in Montreal "will linger as a fond memory" (GLOBE & MAIL, 6/23). In Montreal, Pat Hickey writes Gillett and the Molson brothers both were the "biggest winners" in the deal. Geoff, Andrew and Justin Molson have "reacquired a family heirloom," buying the team, arena and Gillett Entertainment Group, all which "produce a steady return." BCE also "is a winner" in the deal, as it "gets to keep the Bell name on the arena but, more importantly, it doesn't have to worry about the team falling into the hands of rival Quebecor," believed to be the runner-up in the bidding. In addition, Canadiens fans are "winners because the games will continue to be on RDS." It is "not free TV but a Quebecor bid raised fears that at least some of the games might wind up" on PPV. As a result, Quebecor is the "biggest loser" in the deal (Montreal GAZETTE, 6/23).

Print This Article