Molson Family Buys Montreal Canadiens for $550 Million

June 21, 2009

(ChattahBox)—The Molson family brothers, owner of Molson Coors Brewing Co., submitted the winning bid to buy a majority interest in the NHL’s Montreal Canadiens. The Quebec family has a long history with the champion team, previously owning the storied franchise from 1957-1971, with Molson Inc., owning the club from 1978 until 2001, until George Gillett retained a majority interest.

The three very happy Molson brothers, Geoff, Andrew and Justin, competed with other bidders, Quebecor Media Inc., Canadian businessman Stephen Bronfman and sporting goods executive Graeme Roustan, for the opportunity to own the beloved team.

Geoff Molson serves as both a director of the Canadiens and Molson Coors. Molson Coors Brewing Co., owns a minority stake in the franchise.

Although the exact price tag was not disclosed, ESPN reported that the Molsons’ bid was in excess of $550 million for the franchise and the Bell Centre arena.

The deal requires official approval from the NHL’s Board of Governors, but that’s not expected to be a problem. NHL Commissioner Gary Bettman, referred to the Molson deal, as “…a real plus for the franchise and the fans in Montreal.”

The Montreal Canadiens have earned 24 Stanley Cup titles and put up a respectable 41-30-11 record this season, losing in the first round of the playoffs to the Boston Bruins.

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Comments

One Response to “Molson Family Buys Montreal Canadiens for $550 Million”

  1. Robert Walsh on June 21st, 2009 4:40 pm

    I’am a Canadien born in Montreal now living in California. But i love and will always love the Montreal Canadiens. Just seeing their Jersey’s gives you a tremendous amount of pride and gives you chills. Glad they now have owners who are home grown. Great for Canada the Canadiens and the Provience of Quebec. Best of luck to them in 2009-2010 Season.

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