In 2001, Bell Centre and a majority share in the Canadiens were purchased by Gillett for $275 million.
George Gillett Jr., the former majority owner of the Montreal Canadiens of the NHL, passed away at the age of 87.
In a release Thursday, the Canadiens announced Gillett’s passing. The cause of death was not disclosed.
On January 31, 2001, Gillett purchased a controlling ownership in the Canadiens and the Bell Centre (formerly Molson Centre) for $275 million, with $140 million in financing from two banks and the Caisse de depot et placement du Quebec, the province’s pension fund manager.
He owned the team and arena to the Molson family until agreeing to sell on June 20, 2009.
The NHL’s board of governors approved the sale that year in December.
From 2007 to 2010, Gillett also owned the English soccer powerhouse Liverpool FC with fellow American Tom Hicks.
As the creator of Brook Creek Management Corp., a company that specializes in managing portfolios, Gillett, who was born on October 22, 1938, in Racine, Wisconsin, became well-known.
Geoff Molson, the owner, president, and CEO of the Canadiens, issued a statement saying, “On behalf of the entire Canadiens organization, I would like to extend my deepest condolences to George’s family.” “George immersed himself in the Montreal community and was appreciated by everyone in the organization. We sincerely appreciate his contributions to the Montreal Canadiens during his time as owner.”
“George was embraced by the Montreal community and received praise from everyone in the organization. We are extremely grateful for his input as the Montreal Canadiens’ owner.”
On June 20, 2009, he owned the Original Six club until he agreed to sell the squad and arena to the Molson family.
In December of that year, the sale was given the go-ahead by the board of governors of the National Hockey League.
Gillett also owned Liverpool FC, a renowned British soccer team, from 2007 to 2010 with American Tom Hicks.
Gillett, who was born in Racine, Wisconsin, on October 22, 1938, gained notoriety as the creator of Brook Creek Management Corp., a business that specializes in portfolio management.
Geoff Molson, the Canadiens’ owner, president, and CEO, said in a statement that he wanted to extend his deepest condolences to George’s family on behalf of the whole Canadiens organization. “George immersed himself in the Montreal community and was appreciated by everyone in the organization. We sincerely appreciate his contributions to the Montreal Canadiens during his time as owner.”
“George was respected by everyone in the organization and was actively involved in the Montreal community. We truly value his contributions to the Montreal Canadiens during his ownership.”
