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George Gillett Jr., who previously held the majority ownership of the NHL’s Montreal Canadiens, has passed away at the age of 87.
In a statement released on Thursday, the Canadiens organization verified Gillett’s passing, though no specific cause of death was disclosed.
On January 31, 2001, Gillett acquired the Bell Centre (known as the Molson Centre at the time) along with a controlling interest in the Canadiens for $275 million, securing $140 million in financing through a pair of banks and the Caisse de dépôt et placement du Québec, which manages the province’s public pension funds.
He retained ownership of the historic Original Six franchise until June 20, 2009, when he reached an agreement to transfer the club and its home arena to the Molson family.
The transaction received formal approval from the National Hockey League’s board of governors in December of the same year.
In addition, Gillett partnered with fellow American businessman Tom Hicks to own the prominent English soccer club Liverpool FC between 2007 and 2010.
Gillett, born in Racine, Wisconsin, on October 22, 1938, gained prominence after establishing the portfolio management company Brook Creek Management Corp.
“Speaking for the whole Canadiens franchise, I want to offer my sincere sympathies to George’s family,” remarked Geoff Molson, the president, owner, and CEO of the Canadiens, in an official statement.
“George fully integrated into the local Montreal community and earned the respect of everyone throughout our organization. We are deeply grateful for everything he contributed to the Montreal Canadiens during his tenure as owner.”
