NEW MAJORITY OWNER FOR THE MONTREAL CANADIENS AND SALE OF THE MOLSON CENTRE
March 7th, 2001 outside photo of the north side of the Molson Centre; home of the Montreal `` Canadiens `` hockey club.
Molson Inc. today on January 31st, 2001 that a new majority owner (for the Montreal Canadiens and the Molson Centre) ; Colorado businessman George N. Gillett Jr. will purchase 80.1% controlling interest in the hockey team and 100% of the Molson Centre in a deal valued at $275 million. Molson will retain a 19.9% stake in the hockey team and receive a total of $190 million in cash. "
George Gillett is an experienced businessman with accomplishments in sports, resort and leisure management, television broadcasting, transportation and agriculture. He currently serves as chairman of Booth Creek Management Corp., and managing partner of the Gillett Family Partnerships, which control or have investments in a variety of businesses. Mr. Gillett is also Chairman and Chief Executive Officer of Booth Creek Ski Holdings, Inc., made up of some of the finest ski resorts in the United States. "
Molson's decision to sell a majority interest in the hockey club was announced in June 2000, after a thorough examination of its role in the sports and entertainment industry, in the context of the Company's commitment to return to its brewing roots. It is also a logical step in the development of a strategy to improve the hockey team while leveraging the 40-year business relationship between Molson and the Canadiens.
Molson (TSE: MOL.A) is Canada's pre-eminent brewer with more than $2 billion in annual sales. Founded in 1786, Molson is North America's oldest beer brand and a global brand name with products that include Molson Canadian, Molson Export, Molson Dry, Rickard's Red and the Brazilian beer brand, Bavaria.
Photo by Pierre Roussel / Liaison
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