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George Gillett may recieve as much as $550 million for selling his interest in the Montreal Candiens, according to the Milwaukee JOURNAL SENTINEL. Gillett is a native of Wisconsin.
Racine native Gillett sells interest in Canadiens
By Don Walker of the Journal Sentinel
Posted: Jun. 22, 2009
George Gillett
George Gillett Jr. laughed when he heard what the headline in the Montreal Gazette said about his decision to sell a controlling interest in the Montreal Canadiens.
"Ex-Habs owner Gillett not the monster we feared," blared the headline, which referred to the Canadiens by its nickname.
Gillett, a Racine native, still has friends and family in Wisconsin, though he no longer has any business interests here, he said in a brief interview from his home in Colorado.
Over the weekend, it was announced that Gillett, who owned 80.1% of the Canadiens, its arena and its event promotion company, had agreed to sell his interest back to the Molson family of brewing fame.
Media reports say Gillett, 70, sold his interest for as much as $550 million, the richest sale in the history of the National Hockey League.
Assuming the sale is approved by the league's owners, it means the Molson family will have complete control of the franchise.
Gillett bought the Canadiens in 2001 for a reported $183 million. When he purchased the team, he immediately drew criticism and concern from Canadiens fans who feared the storied franchise was being taken over by an unknown - and an American to boot.
But Gillett, mindful of the Canadiens' long tradition, worked hard to win over fans. Asked if he would miss hockey, Gillett immediately said, "Yes."
"I'll miss it very much," he said. "It's a wonderful sport. Our family was close to it."
Gillett still has substantial holdings in sports. He has an interest in the Liverpool F.C. soccer club and a controlling interest in what is now Richard Petty Motorsports, a NASCAR operation. He once owned the Harlem Globetrotters and a share of the Miami Dolphins.
When he did business in Wisconsin, he owned WITI-TV (Channel 6), the old Peck Foods Corp. in Milwaukee, as well as Packerland Packing in Green Bay.
Gillett said he had a sister, Penny, who lived in Milwaukee.
"I don't have any business interests any more in Wisconsin, sadly," he said.
"My wife, Rose, is from Wausau. We, as a family, lived in Wausau for a number of years. We had a wonderful life up there. Our roots are from Wisconsin, our values were developed in Wisconsin, the values of openness and integrity and hard work and the kinds of things that have made Wisconsin one of the unique states in the union. We are proud to say we are from Wisconsin," he said.
Racine native Gillett sells interest in Canadiens
By Don Walker of the Journal Sentinel
Posted: Jun. 22, 2009
George Gillett
George Gillett Jr. laughed when he heard what the headline in the Montreal Gazette said about his decision to sell a controlling interest in the Montreal Canadiens.
"Ex-Habs owner Gillett not the monster we feared," blared the headline, which referred to the Canadiens by its nickname.
Gillett, a Racine native, still has friends and family in Wisconsin, though he no longer has any business interests here, he said in a brief interview from his home in Colorado.
Over the weekend, it was announced that Gillett, who owned 80.1% of the Canadiens, its arena and its event promotion company, had agreed to sell his interest back to the Molson family of brewing fame.
Media reports say Gillett, 70, sold his interest for as much as $550 million, the richest sale in the history of the National Hockey League.
Assuming the sale is approved by the league's owners, it means the Molson family will have complete control of the franchise.
Gillett bought the Canadiens in 2001 for a reported $183 million. When he purchased the team, he immediately drew criticism and concern from Canadiens fans who feared the storied franchise was being taken over by an unknown - and an American to boot.
But Gillett, mindful of the Canadiens' long tradition, worked hard to win over fans. Asked if he would miss hockey, Gillett immediately said, "Yes."
"I'll miss it very much," he said. "It's a wonderful sport. Our family was close to it."
Gillett still has substantial holdings in sports. He has an interest in the Liverpool F.C. soccer club and a controlling interest in what is now Richard Petty Motorsports, a NASCAR operation. He once owned the Harlem Globetrotters and a share of the Miami Dolphins.
When he did business in Wisconsin, he owned WITI-TV (Channel 6), the old Peck Foods Corp. in Milwaukee, as well as Packerland Packing in Green Bay.
Gillett said he had a sister, Penny, who lived in Milwaukee.
"I don't have any business interests any more in Wisconsin, sadly," he said.
"My wife, Rose, is from Wausau. We, as a family, lived in Wausau for a number of years. We had a wonderful life up there. Our roots are from Wisconsin, our values were developed in Wisconsin, the values of openness and integrity and hard work and the kinds of things that have made Wisconsin one of the unique states in the union. We are proud to say we are from Wisconsin," he said.
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