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NEWS: Gillett buys more of the Habs

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08-10-2006, 12:50 PM
  #1
22SteveBegin22
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NEWS: Gillett buys more of the Habs

but Molson's share of the team is still 19.9%...


Brewer sells piece of Canadiens
David Milstead, Rocky Mountain News
August 10, 2006

Molson Coors has sold part of its interest in the Montreal Canadiens hockey franchise to majority owner George Gillett for $36.1 million.
As part of the deal, Molson Coors has been released from an obligation to guarantee the bank loan Gillett took out to buy the hockey team from Molson in 2001.

The deal involves a "preferred interest" Molson Coors held in the club since the sale. Molson Coors still owns 19.9 percent of the common shares in the hockey club.

Molson Coors disclosed the June 30 transaction in its quarterly report to the Securities and Exchange Commission.

"We're totally and fully committed to maintaining our share" of the team, Molson spokesman Paul de la Plante said Wednesday. "We have full confidence in the Gillett group, the way they run the team both financially and on the ice. We're as much behind the Canadiens as we've ever been."

Molson's guarantee of Gillett's bank loan was a concern for some as the Canadian brewer merged with Golden's Adolph Coors Co. in 2005, the same time as an NHL lockout eliminated the 2004-05 season.

While that liability is now gone, Molson Coors still has certain guarantees it makes to the NHL as a co-owner of the Canadiens, as well as a leasing commitment for the arena, now known as Bell Centre.

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08-10-2006, 12:53 PM
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Talent Analyst
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Good news for him ! Molson time will finish !!

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08-10-2006, 12:56 PM
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toshiro
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Quote:
Originally Posted by 22SteveBegin22 View Post
but Molson's share of the team is still 19.9%...


Brewer sells piece of Canadiens
David Milstead, Rocky Mountain News
August 10, 2006

Molson Coors has sold part of its interest in the Montreal Canadiens hockey franchise to majority owner George Gillett for $36.1 million.
As part of the deal, Molson Coors has been released from an obligation to guarantee the bank loan Gillett took out to buy the hockey team from Molson in 2001.

The deal involves a "preferred interest" Molson Coors held in the club since the sale. Molson Coors still owns 19.9 percent of the common shares in the hockey club.

Molson Coors disclosed the June 30 transaction in its quarterly report to the Securities and Exchange Commission.

"We're totally and fully committed to maintaining our share" of the team, Molson spokesman Paul de la Plante said Wednesday. "We have full confidence in the Gillett group, the way they run the team both financially and on the ice. We're as much behind the Canadiens as we've ever been."

Molson's guarantee of Gillett's bank loan was a concern for some as the Canadian brewer merged with Golden's Adolph Coors Co. in 2005, the same time as an NHL lockout eliminated the 2004-05 season.

While that liability is now gone, Molson Coors still has certain guarantees it makes to the NHL as a co-owner of the Canadiens, as well as a leasing commitment for the arena, now known as Bell Centre.
So GG had no risk with the bank loan guarenteed. He is paying off a huge asset purchased with borrowed money with no risk.

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08-10-2006, 12:56 PM
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Le depisteur
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http://www.rds.ca/canadien/chroniques/210313.html

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08-10-2006, 01:35 PM
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Pats Habs
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OT, but your avatar of Kost reminds me of a young Lyle Odelein.

...and yes, no doubt, GG is a shrewd businessman.
Attached Images
File Type: jpg kost.jpg‎ (7.1 KB, 54 views)

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08-10-2006, 01:37 PM
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Squeaky
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the link: http://www.rockymountainnews.com/drm...906240,00.html

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08-10-2006, 01:49 PM
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znk
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So GG had no risk with the bank loan guarenteed. He is paying off a huge asset purchased with borrowed money with no risk.
And Yet no one from quebec setuped up to the plate.

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08-10-2006, 01:56 PM
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ForsbergForever
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I remember an interview with Stephan Bronfman on the Team 990 last year where he said he had a plan to buy the Habs, the Expos and build the new downtown ballpark for them with the help of Jean Coutu and other investers but couldn't get financial comitments from others. This province has a horrible track record in stepping up to the palte when money is involved. At Least GG seems interested and enthusiastic about the team.

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08-11-2006, 03:16 AM
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Molson Coors sells interests to Gillett

GOLDEN, Colo. (AP) - Molson Coors has sold part of its interest in the Montreal Canadiens hockey franchise to majority owner George Gillett for $36.1 million US, the Rocky Mountain News reported on its website Thursday.

Molson Coors retains 19.9 per cent of the common shares in the club but the sale of its preferred interest removes an obligation the beer company had to guarantee Gillett's loans taken out to buy the team in 2001.

Molson Coors disclosed the June 30 transaction in its quarterly report to the Securities and Exchange Commission.

NHL spokesman Frank Brown said the league's board of governors approved the transaction.

The Canadiens are one of hockey's most storied franchises, with 24 Stanley Cup championships dating to the 1915-16 season.





After losing money in the 1990s, Molson sold 80 per cent of the club and 100 per cent of the Bell Centre, then known as the Molson Centre, to Gillett in a deal valued at $184 million.

Gillett is the former owner of the Vail ski resort, who owns interests in skiing, real estate, sports and meat packing.



good for gillett this means he must be making money and still enjoys ownership!

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08-11-2006, 03:41 AM
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I wonder if this means no more Molson stairs? Or maybe... beer.... SELECTION... at the Bell Centre? No of course not, that's not allowed. Sorry, it's late.

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08-11-2006, 03:45 AM
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MacHabs93
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All I REALLY want to know is...

In which contract does it stipulate that the Habs shall never move to another city ? As long as that's still somewhere

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08-11-2006, 09:15 AM
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JMMR
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NHL would never allow a move of the Canadiens Leafs Rangers Blackhawks Bruins or Red Wings!

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08-11-2006, 09:22 AM
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DerekT
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Do we have any idea of how many games Mr. Gillett has attended?

I have a feeling if he was here during those last couple of Toronto games, he knows how much money he can get out of this team, and just how much fun being a Habs fan is!

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08-11-2006, 10:15 AM
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boundless
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Do we have any idea of how many games Mr. Gillett has attended?

I have a feeling if he was here during those last couple of Toronto games, he knows how much money he can get out of this team, and just how much fun being a Habs fan is!
he doesnt need to attend any games to know how much money he can make off this team - all he needs to do is look at the bottom line.

that being said, if i was an owner, i wouldnt miss a single game.

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08-11-2006, 10:52 AM
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DerekT
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he doesnt need to attend any games to know how much money he can make off this team - all he needs to do is look at the bottom line.
My point is, Gillett has complained before about the team not being profitable. While he was probably lieing, investing more in the team probably shows he's enjoying this experience.

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08-11-2006, 11:38 AM
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22SteveBegin22
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that being said, if i was an owner, i wouldnt miss a single game.
If I was an owner, I'd be on the 4th line...

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Old
08-11-2006, 02:11 PM
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If I was an owner, I'd be on the 4th line...


Steve Begin is this really you????

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