from La Presse (translated)

An agreement in principle on the sale of the Montreal Canadiens and the Bell Center at the Molson family has been concluded, the Press has learned from several reliable sources. The transaction will be announced by news release in late afternoon.

The amount of the transaction, which should also include the Gillett Entertainment Group, is “well above 500 million,” says a source.

In its online edition, Friday, SportsBusiness Journal reports that the sale could bring up to $ 610 million the current owner, George Gillett, a sum that far exceeds the most optimistic estimates made so far.

According to a usually well informed source, the former CEO of Canadian, Serge Savard, would play “an important” to buyers, without being an investor.

Three weeks ago, Savard, previously interested in buying the club had announced its withdrawal “on the sidelines” for the brothers Geoffrey, Andrew and Justin Molson.

Member of the Board of Molson Coors, which still owns 19.9% of the shares of Canadian, Geoffrey Molson is also a member of the Canadiens’ Board. When the family announced its desire to acquire the club in late May, he had indicated he would not participate in the deliberations of the two councils on the sale of the team.

In addition to Molson, a consortium formed by Quebecor Media Productions Feeling Rene Angelil and the Fonds de solidarité de la FTQ announced publicly that he had tabled an offer for the properties of George Gillett. Businessman Stephen Bronfman was also on the ranks. American groups were also reportedly interested.

George Gillett, has purchased the 80.1% of the Canadian, Bell Center and the division of Molson shows for $ 275 million in 2001.