Kukla's Korner Hockey
by Paul on 03/25/09 at 10:44 AM ET
from ESPN Soccernet,
Gillett’s best-case scenario would include both the lucrative sale of the Canadiens and a debt restructuring agreement with Liverpool’s creditors. Failing that, it wouldn’t be at all surprising if he combined portions of his interest in both clubs and packaged them off to investors. He has been mulling the idea for some time, telling reporters in December that such a strategy “might enable fans or interested parties in investing in one or more of our sports properties.”
Canadian billionaire Jim Balsillie could very well be one of the “parties” Gillett referred to. The co-CEO of Research in Motion revealed Gillett’s intention to sell the Canadiens in November 2008, telling Montreal daily La Presse that the 24-time Stanley Cup champions were on the block. Gillett vehemently denied the speculation, although Balsillie’s remarks were validated less than four months later.
If Gillett opts to hang on to the Canadiens and offers combined Liverpool-Montreal investment packages - what he calls “investment strips” - to new investors, he will no doubt damage his already battered reputation in the eyes of many Liverpool supporters who opposed the American takeover of the club in the first place.
more and thanks to a KK member for the pointer…
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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
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