Gillett might be forced to sell the habs

Discussion in 'The Business of Hockey' started by Mike The Wall, Dec 3, 2004.

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  1. Mike The Wall

    Mike The Wall Registered User

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  2. fan mao rong

    fan mao rong Registered User

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    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.
     
  3. YellHockey*

    YellHockey* Guest

    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?
     
  4. acr*

    acr* Guest

    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
     
  5. The Kitner Boy

    The Kitner Boy Registered User

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    Even if the team is losing money it will still generate cash flow, which would allow for loan payments.
     
  6. ACC1224

    ACC1224 Registered User

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    Is it true that Paul Allen is interested in the Habs and would move them to Portland?
     
  7. acr*

    acr* Guest

    ...because the NHL board governors would allow that to happen...
     
  8. mooseOAK*

    mooseOAK* Guest

    Not all teams are losing less money with the lockout.
     
  9. Motown Beatdown

    Motown Beatdown Need a slump buster

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    Wouldn't you think the Owners would use some of that 300 million dollar war chest to help Gillett out?
     
  10. mudcrutch79

    mudcrutch79 Registered User

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    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?
     
  11. Madevilz

    Madevilz Registered User

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  12. GKJ

    GKJ Global Moderator

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    No.
     
  13. ChemiseBleuHonnete

    ChemiseBleuHonnete Registered User

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    I second that...
     
  14. habfan4

    habfan4 Registered User

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    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).
     
  15. Masao

    Masao Registered User

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    What's next, the Alouettes moving to the US too?
     
  16. waffledave

    waffledave waffledave, from hf

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    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.
     
  17. waffledave

    waffledave waffledave, from hf

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    Third.
     
  18. mooseOAK*

    mooseOAK* Guest

    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.
     
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