Gillett, the Habs, and Shuffling the Deck in Montreal
With the Montreal Canadians in the middle of a losing streak that does not bode well for their playoff hopes, any off-ice distraction could be disastrous. That’s why the bombshell report filed Monday regarding the possible sale of the franchise could mark big trouble for the on-ice product.
American George Gillett, who bought the NHL team and the Molson Centre (now the Bell Centre) in 2001, has retained financial firms around the world with the primary goal to “optimize the value” of his various sports holdings. The idea here is to take a look at Gillett’s various holdings with the intent to find a way to bring up the value of those holdings or, frankly, get the most bang for his buck.
It’s a common tactic in business and can put associated businesses on edge. One thing it does not mean, according to Habs team president Pierre Boivin, is that the team is going out of business.
“The Gillett family has retained the services of financial advisers to assess various strategic alternatives to optimize the value of its corporate assets,” Boivin said in a statement. “In Canada, the family has retained the services of BMO Capital Markets and the process is underway.”
Gillett, 70, owns the Bell Centre outright and 80.1% of the Canadiens.
There is, of course, little doubt that the Habs will stay put right where they are. Any attempt to move the team or sell it to a buyer with intent to move it will be greeted with rioting in the streets. But the distraction can’t be good for those attempting to piece together the remainder of the season on the ice. The timing of this couldn’t be much worse.
Luckily, head coach and GM Bob Gainey appears set to operate on the task at hand. “I’ve heard vague rumours about what’s happening,” said head coach and GM Bob Gainey. I didn’t hear that the hockey team was being sold. Have you? No. So it doesn’t change. We’re in March. Our budget’s been set, our money’s spent…..We have hockey games to play and it’s about the competition.”
“We all want the Gillett family to stay with us - they’ve done amazing things for our team and the organization - but it’s not going to change the way we play,” forward Chris Higgins said in keeping with Gainey’s impetus on focus. “I don’t think it will affect us at all.”
The Canadiens are currently 1-3-2 under Gainey and have looked simply awful at moments on the ice. Their listless production recently cost coach Guy Carbonneau his job. The team needs to do something to stop the bleeding. While it’s too late for a trade, a bit of line-up shuffling could be the order of the day. Winger Sergei Kostitsyn was called up and will likely play on a line with his brother. Other moves are certainly in the works in hopes of getting something going.
Posted by Jordan Richardson
