brboo Posted November 7, 2008 Share Posted November 7, 2008 La Presse is reporting that the canadiens could be for sale, Jim Balsillie being the guy to purchase the team. For the record, both Gillette and Bettman deny the rumor. I for one can not see why Gillette would sell, the habs are one of the most profitable teams in the NHL. Not to mention that the Bell centre is the most used arena in North America. Here is a link to the article. http://www.cyberpresse.ca/sports/hockey/20...il-a-vendre.php Quote Link to comment Share on other sites More sharing options...
koivu-11 Posted November 7, 2008 Share Posted November 7, 2008 La Presse is reporting that the canadiens could be for sale, Jim Balsillie being the guy to purchase the team. For the record, both Gillette and Bettman deny the rumor. I for one can not see why Gillette would sell, the habs are one of the most profitable teams in the NHL. Not to mention that the Bell centre is the most used arena in North America. Here is a link to the article. http://www.cyberpresse.ca/sports/hockey/20...il-a-vendre.php Considering Gillette just bought a soccer franchise also, im pretty sure he doesn't want to sell..He bought the canadiens to save them back in the day, when their about to win it all i don't think hes gonna give them away. Also ball silly or wtv his name is lol, Won't ever get his hands on a NHL franchise...espesially if Bettman is there. Quote Link to comment Share on other sites More sharing options...
bombTHEice Posted November 7, 2008 Share Posted November 7, 2008 Considering Gillette just bought a soccer franchise also, im pretty sure he doesn't want to sell..He bought the canadiens to save them back in the day, when their about to win it all i don't think hes gonna give them away. I think Liverpool was one of the last clubs which didn't had financial problems till Gillette and his partner took over. Now they've debts and all I hear is that he wants to sell the club. No good managing ... Quote Link to comment Share on other sites More sharing options...
Sir_Boagalott Posted November 7, 2008 Share Posted November 7, 2008 Considering Gillette just bought a soccer franchise also, im pretty sure he doesn't want to sell..He bought the canadiens to save them back in the day, when their about to win it all i don't think hes gonna give them away. Also ball silly or wtv his name is lol, Won't ever get his hands on a NHL franchise...espesially if Bettman is there. If Gillette was ever planning to sell the Habs now would probably be the optimal time to sell. Dont forget that the cliche is to buy low and sell high. The Habs are definitley at a high right now. How much did Gillette buy the Habs for? 200-250 mil, he could probably sell then right now for 500-600 mil, not too shabby of a return. Ballsillie has pissed off Betman and quite a few owners with threats of litigation etc but I think they would allow him to buy the Habs. I highly beleive their main concern is him moving an American team to Ontario. I cant see the Habs finishing their 100 season off as the Kitchener Upper Canada Habs. Quote Link to comment Share on other sites More sharing options...
Prime Minister Koivu Posted November 7, 2008 Share Posted November 7, 2008 If Gillette was ever planning to sell the Habs now would probably be the optimal time to sell. Dont forget that the cliche is to buy low and sell high. The Habs are definitley at a high right now. How much did Gillette buy the Habs for? 200-250 mil, he could probably sell then right now for 500-600 mil, not too shabby of a return. Ballsillie has pissed off Betman and quite a few owners with threats of litigation etc but I think they would allow him to buy the Habs. I highly beleive their main concern is him moving an American team to Ontario. I cant see the Habs finishing their 100 season off as the Kitchener Upper Canada Habs. I can only hope! Then I would get to see my Habs play all the time. Quote Link to comment Share on other sites More sharing options...
johnnyhasbeen Posted November 7, 2008 Share Posted November 7, 2008 I can't believe that there would ever be a Leaf fan owning the Canadien. That would be like me running the Leafs! That maybe the one way a Leaf fan could stop us from winning and get Toronto a cup. Buy the team and trade it to the Leafs! Fire the coaches and GM, hire some babboons, we would be screwed! And that kid has the cash to blow. Please no. We don't need an owner that wears a Leaf jersey to our home games! Quote Link to comment Share on other sites More sharing options...
johnnyhasbeen Posted November 7, 2008 Share Posted November 7, 2008 I think Liverpool was one of the last clubs which didn't had financial problems till Gillette and his partner took over. Now they've debts and all I hear is that he wants to sell the club. No good managing ... Not bad management, bad league management. The whole league is in real trouble over there as far as I can tell. Salary Cap time? Then everyone plays in Spain! Oh well, it is only kick the ball. Buy some skates! Quote Link to comment Share on other sites More sharing options...
Polarice Posted November 7, 2008 Share Posted November 7, 2008 You buy low sell high.....if he was gonna sell, this would be the time!! Quote Link to comment Share on other sites More sharing options...
Habsfan Posted November 7, 2008 Share Posted November 7, 2008 (edited) I'm not really worried about this. Why would Gillett sell the team now, when he is finally generating hugeprofits(18 million in profits in 2006, 25 million$ in profits in 2007, and 40 million$ in profits for 2008). If thisgs keep going the way they are this year, you can bet Gillett could theorhetically make over 60 million$ in profits for the 2008-2009 season. I am happy Gillett is the owner of the Habs. He is a smart owner(unlike the idiots down in Tampa or Mr Wang on Long Island). Uncle George hired very competent people to run this team(Boivin and Gainey) and he lets them do their work. Edited November 7, 2008 by Habsfan Quote Link to comment Share on other sites More sharing options...
brobin Posted November 7, 2008 Share Posted November 7, 2008 He might very well sell it, as he is sitting on a mound of debt which he used to buy all this stuff. With the change in the financial markets, he may well be in need of cash to settle some of these debts. The Habs are making money, but have a huge debt, so converting the capital appreciation of the club into funds he can use to clean up his financing may be best he can do. As for the other part of the rumor, the buyer needs to be someone who has cash to spend, since no one can borrow to buy this club. Ballsillie is one of the few guys out there with actual cash plus a desire to own a hockey team. I'm not really worried about this. Why would Gillett sell the team now, when he is finally generating huge abouts of profit(18 million in profits in 2006, 25 million$ in profits in 2007, and 40 million$ in profits for 2008). If thisgs keep going the way they are this year, you can bet Gillett could theorhetically make over 60 million$ in profits for the 2008-2009 season. I am happy Gillett is the owner of the Habs. He is a smart owner(unlike the idiots down in Tampa or Mr Wang on Long Island). Uncle George hired very competent people to run this team(Boivin and Gainey) and he lets them do their work. Because this profit doesn't take into account his debt to ownership ratio. If he needs to refinance some of his loans, he is in big trouble in today's market. You have to remember that Gillette purchase of the Habs was HIGHLY leveraged. Quote Link to comment Share on other sites More sharing options...
Mont Royale Posted November 7, 2008 Share Posted November 7, 2008 I really hope Gillette doesn't sell - and going by the denials, we have nothing to worry about. However, if he does, we could do worse than Balsillie, who has a bottomless pit of money and is probably only looking to add 'Stanley Cup winner' to his already-impressive list of achievements. My only worry would be that he would treat the Habs as his plaything. As a habs fan and hockey player himself, he may be tempted to insert himself into the operations of the team, and make hockey decisions to the detriment of the team and the alienation of Gainey. That's something that Gillette seems to understand is best left to the pros. But all this is highly unlikely anyway. Quote Link to comment Share on other sites More sharing options...
Tony Posted November 7, 2008 Share Posted November 7, 2008 Don't worry about the Habs and Gillett, he's not going to sell the Habs. Yes, in theory you always buy low and sell high but doing that right now wouldn't make sense. Yes, Uncle George is filthy rich but everyone seems to forget that to make money, you need money. Taking a quick glance at his other assets, there's no way Gillett is going to sell the Habs now. #1 - He owns Liverpool whom he's trying desperately to sell since that investment didn't work out to his liking. #2 - He owns part of a Nascar team and that's not cheap considering all the money you have to invest before getting any decent results out of it. #3 - He owns several meat packing plants but this is where I cue to the current state of the economy in the US. #4 - He owns several resorts in the US but once again the economic state of that country isn't helping his cause. If anything, I'd consider the Habs as his safety net since the Habs are located in Canada, the only country in the G7 group that is going to barely avoid a recession. Quote Link to comment Share on other sites More sharing options...
brobin Posted November 7, 2008 Share Posted November 7, 2008 Don't worry about the Habs and Gillett, he's not going to sell the Habs. Yes, in theory you always buy low and sell high but doing that right now wouldn't make sense. Yes, Uncle George is filthy rich but everyone seems to forget that to make money, you need money. Taking a quick glance at his other assets, there's no way Gillett is going to sell the Habs now. #1 - He owns Liverpool whom he's trying desperately to sell since that investment didn't work out to his liking. #2 - He owns part of a Nascar team and that's not cheap considering all the money you have to invest before getting any decent results out of it. #3 - He owns several meat packing plants but this is where I cue to the current state of the economy in the US. #4 - He owns several resorts in the US but once again the economic state of that country isn't helping his cause. If anything, I'd consider the Habs as his safety net since the Habs are located in Canada, the only country in the G7 group that is going to barely avoid a recession. The problem Tony is that all those things can break a guy who is so highly leveraged, and then you must sell something to raise cash to keep the bankers away. Unfortunately, while the Habs are his best business, it is also the only one he can reasonable sell to raise that cash. Nobody wants the other crap right now. Still, this is all speculation, but it is definitely plausible. Quote Link to comment Share on other sites More sharing options...
JoeLassister Posted November 7, 2008 Share Posted November 7, 2008 I think Liverpool was one of the last clubs which didn't had financial problems till Gillette and his partner took over. Now they've debts and all I hear is that he wants to sell the club. No good managing ... Liverpool was fighting for 4th place every seasons before Hicks and Gillett took over. They invested in internationals players and now they are fighting for the 1rst place. Quote Link to comment Share on other sites More sharing options...
Mont Royale Posted November 7, 2008 Share Posted November 7, 2008 Balsillie rep denies it too Quote Link to comment Share on other sites More sharing options...
Tony Posted November 7, 2008 Share Posted November 7, 2008 The problem Tony is that all those things can break a guy who is so highly leveraged, and then you must sell something to raise cash to keep the bankers away. Unfortunately, while the Habs are his best business, it is also the only one he can reasonable sell to raise that cash. Nobody wants the other crap right now. Still, this is all speculation, but it is definitely plausible. For sure, you make a good point. He has to free up cash somewhere. My guess is once he finally gets to sell Liverpool, he'll be good for sometime from a business aspect. Quote Link to comment Share on other sites More sharing options...
habscout Posted November 7, 2008 Share Posted November 7, 2008 I say 'bunk' to this story. It must have been a slow day at La Presse, for them to come up with this kind of yellow journalism. Quote Link to comment Share on other sites More sharing options...
markierung Posted November 7, 2008 Share Posted November 7, 2008 I say 'bunk' to this story. It must have been a slow day at La Presse, for them to come up with this kind of yellow journalism. I watched Hockeycentral this afternoon. Balsillie's lawyer completely denies the story, and apparently, Gillette went crazy when he found out what the lapresse writer had said. Quote Link to comment Share on other sites More sharing options...
RobRock Posted November 7, 2008 Share Posted November 7, 2008 This story makes no sense at all. When Balsillie first came into the NHL picture, he wanted a team in Southern Ontario, and he went after the Penguins, who were having trouble getting their arena deal done. When that deal fell through, he went after the Predators and started taking season ticket requests the following day. He wants a team that he can move into his back yard. Why would he buy the Habs when you, me, him, and everyone else know that they aren't moving five millimetres from the Bell Centre? I saw this on RDS late last night, and for the life of me, couldn't figure out the logic behind it. Quote Link to comment Share on other sites More sharing options...
habs rule Posted November 8, 2008 Share Posted November 8, 2008 2 things I have read are that balsillie is actually a life long habs fan and when asked if the habs could be moved he said that was not even thinkable. I do not think he thinks he could buy them and I am pretty sure George is not selling under any circumstances. He wants to sell liverpool to get rid of his partner the owner of the stars. They aren't getting along so well. And stop with the damn penalties!!!!!!!!!!!! :ghg: :ghg: Quote Link to comment Share on other sites More sharing options...
Sir_Boagalott Posted November 8, 2008 Share Posted November 8, 2008 This story makes no sense at all. When Balsillie first came into the NHL picture, he wanted a team in Southern Ontario, and he went after the Penguins, who were having trouble getting their arena deal done. When that deal fell through, he went after the Predators and started taking season ticket requests the following day. He wants a team that he can move into his back yard. Why would he buy the Habs when you, me, him, and everyone else know that they aren't moving five millimetres from the Bell Centre? I saw this on RDS late last night, and for the life of me, couldn't figure out the logic behind it. Wll think of this way. If Ballsillie did buy the Habs and was somehow able to make them the Kitchener Upper Canada Habs how long do you think it would take for the NHL to move one of the leagues shittiest teams to Montreal? If Ballsillie could ever move the Habs at the end of any season by the time the next season started there would be another franchise in Montreal. The league would probably even let a city and ownership swap happen similar to how the one owner sold his team and bought another one. They would probably make sure the Habs would stay put and the other team goes to Kitchener. Either way Ballsillie would win. Quote Link to comment Share on other sites More sharing options...
RobRock Posted November 8, 2008 Share Posted November 8, 2008 2 things I have read are that balsillie is actually a life long habs fan and when asked if the habs could be moved he said that was not even thinkable. I do not think he thinks he could buy them and I am pretty sure George is not selling under any circumstances. He wants to sell liverpool to get rid of his partner the owner of the stars. They aren't getting along so well. And stop with the damn penalties!!!!!!!!!!!! :ghg: :ghg: Evidently he's not selling Liverpool either. He was on FAN590 a week or so ago and said that he and Hicks have worked out their problems and are not interested in selling the club. And Boagalott, that's a bit of a stretch. I can't see him pulling a Modell, moving the players and assets and leaving the goodwill behind. That was a fiasco when the NFL let that happen, I can't see even Bettman letting a new owner even attempt to do the same. Quote Link to comment Share on other sites More sharing options...
Sir_Boagalott Posted November 8, 2008 Share Posted November 8, 2008 (edited) And Boagalott, that's a bit of a stretch. I can't see him pulling a Modell, moving the players and assets and leaving the goodwill behind. That was a fiasco when the NFL let that happen, I can't see even Bettman letting a new owner even attempt to do the same. Thats not what I mean. If Ballsillie owned them and was about to move them the NHL could force him to give up the Habs and take the team that would have to be moved to Montreal instead. If the Blue Jackets had worst attendance/profits etc instead of there being the Kitchener Upper Canada Habs and the Montreal Fluer de Lies Jackets it would remain Montreal Canadiens with a new owner and Kitchener Upper Canada Jackets with Ballsillie now owning them. Ballsillie owning the Habs or the Laffs could do whatever he wants. Niether city can go without a team so the threat of moving these teams would force the NHL to finaly allow a 3rd team in Ontario. The only way to stop him would be to do what I suggested and not allow Ballsillie to move an original 6 team by giving him an alternate team in his desired location instead. Plus if he did buy the Habs he would probably move the AHL team to Kitchener. If the Bulldogs could pull off really high attendances over period of time maybe the NHL would allow a 3rd team in Ontario. However Ballsillie is probably the only person who has that kind of resources to pull it off anyway. Edited November 8, 2008 by Sir_Boagalott Quote Link to comment Share on other sites More sharing options...
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