Singing superstar Celine Dion is part of a consortium considering a bid for fabled ice hockey side the Montreal Canadiens, it was reported here on Thursday.
Dion, as well as press baron Pierre Karl Peladeau and Seagram drinks heir Stephen Bronfman, form the group which wants to purchase the 24-time Stanley Cup champions from owner George Gillett who bought the club nine years ago for 185 million US dollars, the Globe and Mail reported.
"There is a group bid being discussed, and it's clear that Gillett is very willing to sell if the price is right," a banker, who is helping line up financing for potential bidders, was quoted as saying.
Cirque du Soleil founder Guy Laliberte dropped out of the bidding for the team last week, according to sources in the financial community.
The Canadiens, who have made it through to the 2009 NHL play-offs, were recently valued at 335 million dollars by Forbes magazine.
http://ca.news.yahoo.com/s/afp/090416/canada/ihockey_nhl_entertainment_canadiens_dion
A group of Quebec's elite including singer Celine Dion, Seagram heir Stephen Bronfman and Quebecor Inc head Pierre Karl Peladeau is considering a bid for the National Hockey League's Montreal Canadiens, the Globe and Mail said on Thursday.
The newspaper, citing financial sources, said team owner George Gillett is mulling a second round of bids for the storied team which he bought nine years ago for $185 million.
The team, which has won 24 Stanley Cups, was not available for comment. It was recently valued at $335 million by Forbes magazine.
Potential buyers have been given full access to financial data concerning the Canadiens and the Bell Center arena where the team plays, one investment banker familiar with the process told the newspaper.
"There is a group bid being discussed, and it's clear that Gillett is very willing to sell if the price is right," the investment banker said.
The group is said to be contemplating a dedicated pay-TV channel in Quebec to carry the games and other hockey-related content as well.
The newspaper also said that Cirque du Soleil founder Guy Laliberte dropped out of the bidding last week and that Caisse de depot et placement du Quebec, the province's pension fund, is not expected to be an equity investor.
($1=$1.20 Canadian)
http://ca.news.yahoo.com/s/reuters/090416/canada/canada_us_canadiens_sale
Habs fans, you have my sympathy.
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Who am I kidding? As a Leafs fan, I'm in stitches!
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