Skip to main content

George Gillett

Paul Chiasson

A Montreal newspaper is reporting that Quebec's economic development agency will extend a $75-million loan to ensure the Molson family's purchase of the Montreal Canadiens.

According to La Presse, the sale of the NHL franchise has yet to be completed with only two weeks to go before training camp starts.

In June, the Molsons issued a statement saying they had an agreement in principal to purchase the storied NHL club from George Gillett.

Story continues below advertisement

The transaction was expected to be completed by late August.

Earlier this summer, U.S. bank CIT, facing possible bankruptcy, pulled out of the roughly $225 loan commitment to help the Molson family purchase the team.

Report an error
As of December 20, 2017, we have temporarily removed commenting from our articles. We hope to have this resolved by the end of January 2018. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.