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Gillett thinks about selling parts of the Canadiens to the fans

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Old
12-05-2008, 08:10 AM
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Thinkaboutthat
 
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Gillett thinks about selling parts of the Canadiens to the fans

In La Presse this morning, Gillett reveals he's thinking about the idea of selling parts of the team to the fans or a major investor. There is an audio link.
http://www.cyberpresse.ca/sports/hoc...e-canadien.php

The quote: "We have thought on several occasions of trying to create a way that we might create ... an investment strip that might enable fans or interested parties in investing in one or more of our sports properties. "I presume that we will continue that process on occasion in the future."

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12-05-2008, 08:33 AM
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Phil Parent
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Yeah.

Great.

Do I get a share of the profits?

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12-05-2008, 08:35 AM
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12-05-2008, 08:36 AM
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hototogisu
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When you factor in money spent on tickets, merchandise, concessions at the arenas, etc, some Canadiens fans probably could have bought the team already

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12-05-2008, 08:48 AM
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I don't care about owning a NASCAR team of a soccer team but I would love to have a share of the Habs!!

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12-05-2008, 08:51 AM
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Quote:
Originally Posted by Phil Parent View Post
Yeah.

Great.

Do I get a share of the profits?
When you sell your shares

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Old
12-05-2008, 08:55 AM
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Just found that Rejean Tremblay wrote about the same story this morning
http://www.cyberpresse.ca/opinions/c...-confiance.php
They also published a financial analysis
http://www.cyberpresse.ca/sports/hoc...rtie-du-ch.php

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Old
12-05-2008, 08:58 AM
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isnt there a profit sharing rule in the nhl? like the team that makes the most profit share with poor teams?
If it is so, why would we want to invest our money when we have to give away our profit?

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Old
12-05-2008, 09:08 AM
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Originally Posted by Phil Parent View Post
Yeah.

Great.

Do I get a share of the profits?
Oh course, it's not like you'd be handing your money over for the hell of it. You'd become a partial owner, and would receive a percentage of the teams profit. *Percentage depends on how many stocks you purchase*

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Old
12-05-2008, 09:19 AM
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In other words, my understanding is he's willing to sell (parts of) the team.

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12-05-2008, 09:21 AM
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Originally Posted by Thinkaboutthat View Post
In other words, he's willing to sell (parts of) the team, right?
Yes, but he would keep the majority of the team. So he would continue to be the owner and have the final say on decisions that are made.

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12-05-2008, 09:22 AM
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Originally Posted by KaTaKlIsM View Post
isnt there a profit sharing rule in the nhl? like the team that makes the most profit share with poor teams?
If it is so, why would we want to invest our money when we have to give away our profit?
Huh, and why did Gillet invest his money? Because he wants to give money?

Even with the taxes we pay in Quebec, if you make more money than someone else, you still make more money than that person after taxes. It's not communism...

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12-05-2008, 09:39 AM
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Didn't Gillett vehemently deny this during the opening of the centennial plaza?

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12-05-2008, 09:39 AM
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Phil Parent
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Originally Posted by MastaK View Post
Huh, and why did Gillet invest his money? Because he wants to give money?

Even with the taxes we pay in Quebec, if you make more money than someone else, you still make more money than that person after taxes. It's not communism...
But the more you make, the more taxed you are, if you don't make a lot you don't pay income tax, and receive money from the gov. Doesn't make revenues even for everyone, but it makes it more even.

You can call this socialism.

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Old
12-05-2008, 09:42 AM
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Not only Gillett didn't denied it, he's the one who said that on the record (see audio link on Gagnon's article)

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Old
12-05-2008, 09:46 AM
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Originally Posted by WeThreeKings View Post
Didn't Gillett vehemently deny this during the opening of the centennial plaza?
He denied that the team was up for sale. Not portions of the team, there's a big difference in the business world.

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12-05-2008, 10:12 AM
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You'd make more money investing in some good Oil Unit Trusts right now, that are yielding 15% return. But, thats just common sense.

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12-05-2008, 10:14 AM
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id is less than 20 mill i am in

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Old
12-05-2008, 10:16 AM
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You'd make more money investing in some good Oil Unit Trusts right now, that are yielding 15% return. But, thats just common sense.
I'm not sure that "owning" a piece of the Canadiens is anything like doing stocks. I mean, obviously, you are going to have keep track of things.. but in the end, its a dream to be a partial owner of the Montreal Canadiens.

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Old
12-05-2008, 10:27 AM
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My opinion on this is that Gillett wants to raise some easy capital on the back of emotive and irrational fans who are already wet at the idea of owning a part of the Sainte Flanelle. The truth is that sport franchises are not a very safe investments, and that most peoples would be better off buying some index fund instead.

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Old
12-05-2008, 10:46 AM
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If they think the fans and media are whinny now, imagine how much worse they'll be once they have money invested in the team...

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Old
12-05-2008, 11:47 AM
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I hear Jim Balsallie is a pretty big fan

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