((HT: TSN))
The sale of the Montreal Canadiens has been finalized, according to a report on RDS.ca.
Geoff Molson and his brothers Andrew and Justin will take over ownership of the century-old hockey franchise, the Gillett Entertainment Centre and the Bell Centre ((pictured, thanks CP)) according to the report.
The approval of the sale is going to take some time. The National Hockey League will have to review the application and conduct an interview with the Executive Committee before the Board will be in a position to vote. It's expected that the approval may not come until mid-summer at the earliest.
''I think to the extent that they have been able to find people who are obviously passionate about the game and structure a transaction that makes sense for everybody, that's a real plus for the franchise and the fans of Montreal,'' NHL commissioner Gary Bettman told TSN.
The three brothers were one of at least two groups to have placed bids on the Canadiens franchise, the other from a consortium spearheaded by Quebecor Media.
According to reports, a few others with strong Quebec ties were also be in the mix to buy the club, which is currently owned 80 per cent by American George Gillett. Molson-Coors (TSX:TPR.B) owns the remaining 20 per cent.
The Molson family is no stranger to the NHL -- it has been associated with the franchise since 1957, when brothers Thomas and Hartland Molson acquired the team from Senator Donat Raymond.
During the period the family controlled the team, the Canadiens won 11 of their 24 Stanley Cups.
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