Saturday, 13 June 2009

Quebecor join race to purchase Gillett’s hockey team

Following on from yesterdays story, media conglomerate Quebecor has joined the Molson family in the race to purchase George Gillett’s Montreal Canadiens, as well as its Bell Arena home claims the Telegraph. The story says the “price that could rise as high as £300million, allowing Gillett to secure both his position at Liverpool and the club's immediate financial future.”

The article goes on to say: “Both Gillett and his business partner, Tom Hicks, have admitted in recent weeks they are looking for "minority" investors in their sporting empires and it is believed both are prepared to countenance selling their sport assets in the United States to maintain control of Liverpool.”

Hicks and Gillett are said to be “close to securing a six-month extension on the £350 million loan taken out last January. It is believed any such deal would likely be dependent on both owners putting more of their own capital into the club.”

The story also states Rafael Benitez “is not likely to be handed a significant boost in the transfer market should Gillett sell the Canadiens.”

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