April 10, 2009
Yes, you did read that right. The new owner of the storied Montreal Canadiens hockey franchise just may very well be the same lady who sings that song from Titanic. My Heart Won’t Go On unless i get some more information…To Google!
The Montreal Canadiens hockey club — winners of 24 championship Stanley Cups since 1916 — is for sale, local media said Wednesday.
Owner George Gillett, an US businessman who co-owns the English Premier League football club Liverpool F.C. and a NASCAR auto racing team, asked bankers in March to evaluate his options, including an asset sale, to repay loans.
Gillett hopes to sell the team and a hockey arena in downtown Montreal to pay back 75 million dollars in loans due in July.
Gillett bought an 80.1 percent stake in the hockey franchise for 275 million dollars (223 million US) in 2001.
Forbes magazine estimated the value of the team and the Bell Centre arena last year at 412 million dollars (334 million US).
Interest in pop stars buying hockey franchise aside, the bigger question might end up becoming, what’s going to happen with the English Premier Soccer club, Liverpool FC? Both Gillette and Denver Broncos owner Tom Hicks are majority owners in the franchise, and both are experiencing some financial hardships (see: Tom Hicks looking to sell parts of Dallas Stars, Texas Rangers). Might a sale of one of the UK’s most popular soccer clubs be next?
Back to Dion though, pretty interesting investment opportunity. She’s already extremely wealthy and extremely famous but she could seemingly transcend her current levels of wealth and publicity by becoming the owner of a sports franchise by possibly opening herself up to a new audience (I assume that every Canadiens fan isn’t a Dion fan…but what if she brings them a championship?) and new revenue streams (why not pay yourself to sing the national anthem at hockey games?).
Still, not to beat the idea of the “recessions effect on sports” into the ground but would we see moguls like Gillett and Hicks looking to invite minority owners into their clubs if the recession was not in its present downturn? Probably not.
Google News — AFP: Canadiens hockey team for sale
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