George Gillett Jr., the American Who Owned the Canadiens Through the 2000s, Dies at 87

In 2001, an American businessman from Racine, Wisconsin, bought the Montreal Canadiens. George Gillett Jr. paid $275 million for a majority of the team and its arena, then the Molson Centre, and kept both for eight years before selling them back to the Molson family.

Gillett died at 87, the Canadiens said Wednesday. No cause was given.

The deal closed on Jan. 31, 2001, financed partly by $140 million in loans from two banks and Quebec's pension fund, the Caisse de depot et placement du Quebec. The sale to the Molsons was agreed on June 20, 2009, and approved by the league's governors that December.

Gary Bettman credited him with guiding the club toward its centennial celebration and called him a friend whose counsel was wise and whose energy was contagious. Geoff Molson, who owns the team now, said Gillett threw himself into the Montreal community and was liked by everyone in the organization.

Outside hockey, Gillett is also remembered in England: he and Tom Hicks owned Liverpool from 2007 to 2010. He was born on Oct. 22, 1938, and built his business career on Brook Creek Management Corp., a portfolio management firm he founded.