Former Montreal Canadiens owner George Gillett Jr. dies at 87

MONTREAL -- George Gillett Jr., who was a former majority owner of the NHL's Montreal Canadiens and part owner of soccer's Liverpool FC, has died. He was 87.

The Canadiens confirmed Gillett's death in a release Wednesday. No cause of death was given.

Gillett bought the Bell Centre, then the Molson Centre, and a majority stake in the Canadiens for $275 million on Jan. 31, 2001, with the help of $140 million in loans from two banks and the Caisse de depot et placement du Quebec, the province's pension fund manager.

Gillett owned the Canadiens, one of the Original Six franchises making up the NHL, until agreeing to sell the team and arena to the Molson family on June 20, 2009. The sale was approved by the NHL's board of governors in December of that year.

"George Gillett's passion for the Montreal Canadiens and commitment to the city of Montreal were demonstrated throughout his tenure as owner of the storied franchise from 2001 to 2009," NHL Commissioner Gary Bettman said in a statement. "He guided the Canadiens through a significant chapter in their history that included preparations for their Centennial Celebration, which honored the franchise's rich legacy and seminal place in our game.

"George was a friend whose company I always enjoyed, whose counsel was wise, and whose energy was contagious. His contributions to the hockey world left an enduring mark, and his legacy will continue to be felt throughout the game for years to come."

Canadiens owner, president and chief executive officer Geoff Molson echoed Bettman's remarks in a statement.

"George immersed himself in the Montreal community and was appreciated by everyone in the organization. We sincerely appreciate his contributions to the Montreal Canadiens during his time as owner."

Gillett, along with fellow American Tom Hicks, owned English soccer giant Liverpool from 2007 to 2010.

Born on Oct. 22, 1938, in Racine, Wisconsin, Gillett rose to prominence as the founder of Brook Creek Management Corp., a portfolio management firm.