Source: Telegraph
Liverpool co-owner George Gillett nets $300m ice hockey windfall
Gillett paid $275m for the team and the Bell Centre arena in 2001, but is understood to have sealed a $575m sale to representatives of the Molson brewing family. [LNB]Geoff Molson and his brothers Andrew and Justin are the lead investors in a group that has purchased the Canadiens, the Bell Centre and the Gillett Entertainment Group from Gillett. [LNB] Related ArticlesBenítez defends Aquilani protection policyThe biggest deals of 2009Glen Johnson: Liverpool's luck finally turnedShankly's wayPhil Thompson: Bill Shankly was 'Mr Liverpool'The deal could have implications for Liverpool, where Gillett's relationship with co-owner Tom Hicks has not always been harmonious. [LNB]The pair are currently seeking third-party investors to break the 50-50 deadlock on the board and pay down some of the club's £230m debt. [LNB]Gillett decided to sell the Canadiens at the end of last year in an attempt to ease pressure on his diverse portfolio of interests, which include a Nascar team as well as Liverpool. [LNB]It is far from certain that he will use the windfall from the sale to change the balance of power at Liverpool, but the money could help strengthen his position. [LNB]Hicks is also seeking investors in his North American sports interests including the Dallas Stars NHL franchise. [LNB]Both men have said they remain committed to Liverpool independent of their US businesses interests. [LNB]