Habs On The Block...?

((HT: TSN))




The Montreal Canadiens could be going up for sale, reports La Presse in Montreal.

The newspaper, citing Canadiens president Pierre Boivin, reported on Monday owner George Gillett is considering options for many of his assets, including the legendary franchise.

"We're not hiding it; we're going through a very difficult economic period," Boivin told La Presse.

"The Gillett family has retained the services of financial advisers to assess various strategic alternatives to optimize the value of its corporate assets," said Boivin in a statement on Monday.


"In Canada, the family has retained the services of BMO Capital Markets and the process is underway."



Boivin drew a crowd of reporters at a downtown hotel Monday, however he did not give them any substantial information.



"Today, many of you would have liked I would talk to you about the performance of the team or the news of the day in regards to the financial measures taken by our owner," Boivin said. "But you will understand that I will abstain as it's not the time."



Forbes Magazine ranked the Canadiens as the NHL's third most valuable team back in October. The magazine estimated the club's worth to be $334 million. There were reports the club would be placed up for sale late last year, but Gillett and the Canadiens denied their accuracy.



Gillett purchased the Canadiens and the Bell Centre back in 2001 for $181 million. He also co-owns Liverpool soccer club along with interests in the Richard Petty Motorsports NASCAR team and Gillett Entertainment Group.



The CANADIAN PRESS is reporting that Research In Motion CEO Jim Balsillie is among the names being rumoured as the team's next owner. Others include billionaire Cirque du soleil owner Guy Laliberte, media giant Quebecor and Rene Angelil, manager and husband of singer Celine Dion.



The team does not expect the rumour of a potential sale to effect the team on the ice.

In December, Sports Business Journal reported that Gillett was looking to refinance a US$75-million loan he took out to guarantee his involvement in the purchase of Liverpool FC.

Gillett bought the Molson Centre and his majority stake in the Canadiens for $275 million with the help of $140 million in loans from two banks and the Caisse de depot et placement du Quebec, the province's pension fund manager.

Darren Dreger reports, at the same time, that Gillett's partner in Liverpool FC, Dallas Stars owner Tom Hicks is looking for minority owners for the Dallas Stars. Hicks has no intention of .selling the Stars or his stake in Liverpool.