Business · Companies · 1 hr ago
Former Montreal Canadiens owner George Gillett Jr. dies at 87
George Gillett Jr. has died at 87, after a career buying and selling businesses and sports teams.
In 2001, he paid US$180-million for an 80.1-per-cent stake in the Montreal Canadiens and the Molson Centre, now called the Bell Centre.
Many fans feared the Colorado businessman might move the team away from Montreal, where the Canadiens are deeply tied to Quebec culture.
Those fears did not come true: his time as owner helped revive the Canadiens and build on the club’s history.
Gillett also held stakes in other sports teams, including the Miami Dolphins, and owned ski resorts.
His later involvement in a highly leveraged takeover of Liverpool Football Club ended amid public demonstrations and a forced sale.
No next steps are given.
Former Montreal Canadiens owner George Gillett Jr. has died at 87.
He bought an 80.1 per cent stake in the Canadiens and ownership of the Molson Centre in 2001 for US$180-million.
Fears that he would move the team away from Montreal were unfounded, and his tenure was described as a revitalization of the franchise.
Gillett also owned parts of other sports franchises, including the Miami Dolphins and a NASCAR team.
- Who
- George Gillett Jr., former owner of the Montreal Canadiens.
- What
- He has died at 87.
- When
- Not stated.
- Where
- Not stated.
- Why
- Not stated.
This story does not have two clearly opposing sides.
George Nield Gillett Jr. was born in Racine, Wisconsin.
Gillett graduated with a liberal arts degree from the Dominican College of Racine.
Gillett joined Racine land developer Willard (Bud) Keland in buying a minor share in the Miami Dolphins.
Gillett paid US$180-million for an 80.1-per-cent stake in the Canadiens and ownership of the Molson Centre.
- Age at death
- 87
- Canadiens stake purchased
- 80.1 per cent
- Purchase price
- US$180-million
- Purchase year
- 2001
- Venue included in deal
- 21,273-seat Molson Centre, now Bell Centre
- Birthplace
- Racine, Wisconsin
What people are saying
no jock sniffer
The so-called experts have said I’ve paid too much for just about everything I’ve bought, then turn around and say I stole it a couple of years later.
Every market has an unexploited niche.