Source: Eurosport
Gillett Considers Franchise Sale
Liverpool[LNB]co-owner George Gillett is reportedly considering selling the famous Montreal Canadiens NHL franchise as he undertakes a review of his assets.[LNB]The news, reported on Monday by Montreal-based newspaper La Presse, is likely to re-open speculation about Gillett's long-term commitment to Liverpool, which he co-owns with fellow American Tom[LNB]Hicks.[LNB]According to the report, Gillett has called in financial advisors to take stock of his assets, and is considering anything from a restructuring of his interests to a sell-off.[LNB]"The process has been started but we're only at the beginning," Canadiens team president Pierre Boivin told La Presse.[LNB]"We're not hiding it; we're going through a very difficult economic period."[LNB]Gillett also owns the Canadiens' home arena, the Bell Centre, and a NASCAR team.[LNB]He and Hicks bought Liverpool in February 2007 with ambitious plans to build a new stadium.[LNB]Since then, the credit crunch has put the stadium on hold, while the two owners engaged in a very public spat before recently claiming their relationship has been repaired.[LNB]Last week, Hicks reiterated his commitment to Liverpool for the long term, insisting his share in the team is not for sale, but little has been heard from Gillett.[LNB]According to the most recent rankings in American business magazine Forbes, the Canadiens franchise is valued at US 334 million (£230 million).[LNB]More news from SportingLife.com[LNB] Email[LNB] Share[LNB] Delicious[LNB] Digg[LNB] Facebook[LNB] Stumbleupon[LNB] Reddit[LNB] Newsvine[LNB] document.getElementById("ynw-universal-sharing").innerHTML += "Print[LNB]"; Be the first to comment on this article! 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