Discussion in 'The Business of Hockey' started by Mike The Wall, Dec 3, 2004.
Yeah, despite the lack of interest here so far, this could be a story. Seems current owner, Gillet (person) , can sell the team back to Molson Brewery if he is unable to make his loan payments. This could torpedo the proposed merger between Molson and Coors, as Coors would not see the savings in operating costs it had projected due to the purchase of the Canadiens.
But the owners are losing less money with no hockey...?
If that's the case, how can Gillett lose his team because of the lockout?
From what I gather from the article, he bought them on the loan, and with no season, he's making no income to pay back that loan
Even if the team is losing money it will still generate cash flow, which would allow for loan payments.
Is it true that Paul Allen is interested in the Habs and would move them to Portland?
...because the NHL board governors would allow that to happen...
Not all teams are losing less money with the lockout.
Wouldn't you think the Owners would use some of that 300 million dollar war chest to help Gillett out?
In at least one way, that'd be fantastic for the NHL BoG...it'd allow them to sell an expansion franchise for a market that's passionate about the game. Consider what the NFL did after Cleveland lost their team-they made a whack of money selling an expansion franchise for the city.
Of course this whole thing is premised on Paul Allen being dumb enough to buy a team in a solid market, and burn all of the goodwill associated with it by moving it to a different market. Why wouldn't he buy a team in a bad market that doesn't have the value of the Canadiens?
I second that...
Just because Molson's discloses an agreement that they have in place regarding a possible repurchase of the Canadiens doesn't mean it's going to happen (these types of disclosures are standard in mergers/business deals).
What's next, the Alouettes moving to the US too?
The Gazette has an article about this today. It says that the Habs are one of the teams that is losing more money because of the lockout.
That would be like moving the Green Bay Packers to Winnipeg.
Little known fact: Paul Allen likes basketball and doesn't like hockey and has no intention of putting a team in Portland.