Canadiens to be sold to Molson

MONTREAL, Ontario, June 21 (UPI) --

The NHL's Montreal Canadiens will be sold to the Molson family, the renowned Canadian beer brewers.

Team owner George Gillett Jr. has reached an agreement in principle sell his majority stake in the Canadiens and their home arena, the Bell Centre.

Gillett said on the team's Web site.

Gillett, an American who made his money in communications, meat processing and sports enterprises, purchased an 80.1 percent stake in the franchise, as well as all of what was then called the Molson Centre, in 2001.

said Geoff Molson.

The Montreal Gazette quoted a report from French-language channel RDS that the sale will be completed for more than $500 million.

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