MONTREAL – Bell has confirmed its minority interest in the Molson family’s bid to acquire the Montréal Canadiens hockey club and the Bell Centre arena.
Team owner George Gillett and Geoff Molson announced Saturday that they had reached an agreement in principle for the sale of the Gillett family’s interests in the Canadiens, the Bell Centre and Gillett Entertainment Group.
Expected to close in late August, the transaction requires the approval of the Board of Governors of the National Hockey League. Financial and other terms of the agreement were not disclosed.
"Bell’s relationship with the Montréal Canadiens spans many glorious decades and we are proud to be working with the Molson family as a partner in the team’s bright future," said Bell and BCE president and CEO George Cope, in the announcement. "Montréal has been our home for 129 years, and the Bell team is delighted with this opportunity to support our community, the franchise that proudly wears its name, and the Bell customers here and across Canada who love hockey and the Habs."
The company’s investment in the bid seeks to enhance its marketing and promotional relationship with the Canadiens, including long-term naming rights to the Bell Centre and “preferred customer access” to Canadiens content.
Quebecor Media, who also made an offer for the team, expressed its disappointment, but wished the Molson family well.
"Naturally, I would have been honoured if my team and I could have been players in the future of this iconic, world-renowned sports team, which has been part and parcel of our history for a hundred years, and we believe we made a reasonable and attractive offer to the Gillett family," said Quebecor president and CEO Pierre Karl Peladeau, in a statement on Monday. "However, we will bring our commitment to Quebec and Quebecers to other ambitious projects, which promise to pay large dividends for the community.”
