Post by TestSubjekt on Aug 13, 2006 9:29:22 GMT -5
Molson Coors sells interests to Gillett
I guess Gillett's been a pretty good owner for the Habs, in that he hasn't run the team into the ground.
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.
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.
I guess Gillett's been a pretty good owner for the Habs, in that he hasn't run the team into the ground.