Not surprising, since Gillette really couldn't afford this team to begin with. Mix in Molson, who were desperate to sell the team, and no regard for finding a suitable owner for the Habs, and this could get ugly.
George has some money, but most of it is heavily tied up in long term share issues, warrants, debentures etc. His liquid cash is non-existent, and I'm curious to know how deep his credit-line is in the red.
Hope this story isn't just stirring the pot, and George has a backup plan...
I'd try everything possible to keep them if I was him. The longer this conflict goes, the more chance that a sane CBA will result and the better value these teams could have 2-3 years down the road.
Just with the concessions the players have made, the NHL financial health is already better than it was when Gillett bought the team. One other option he could consider is to sell just one of the asset (the building) but I doubt anyone would buy it separately at a fair price. And owning the building of your team is the way to go, IMO.
i read the article in LaPresse and i don't think that there is some problem with Gillet
the article talk about this possibility yes, but the source come from the'' Coors- Molson'' affiliation contract; since that it was already in the sale contract betwen Molson-Gillet , it 's a normal proceeding to add it in the affiliation contract betwen the 2 breweries.
once again , it's probably an article to sold more papers....Gillet was already knowing the lockout situation at the start of his negotiation with Molson ,so , i don't think that we have to be scare about that situation