George Gillett Jr., the American businessman who once held a majority stake in the Montreal Canadiens and co‑owned Liverpool FC, has passed away at the age of 87. The Canadiens announced his death in a statement released on Thursday, though no cause was disclosed. Gillett’s tenure saw him acquire the Bell Centre and steer the historic Original Six franchise through a period of change before selling to the Molson family in 2009.
Early Life and Business Rise
Born on 22 October 1938 in Racine, Wisconsin, Gillett built his reputation as the founder of Brook Creek Management Corp., a portfolio management firm that attracted attention for its aggressive investment strategies. His success in finance paved the way for a move into sports ownership, a sector where he would leave a lasting imprint on both sides of the Atlantic.
Canadiens Ownership and Bell Centre Acquisition
On 31 January 2001, Gillett completed a $275 million purchase of the Montreal Canadiens and the Molson Centre—later renamed the Bell Centre—financing the deal with $140 million in loans from two banks and the Caisse de dépôt et placement du Québec. He remained the majority owner until agreeing to sell the team and arena to the Molson family on 20 June 2009, a transaction that received NHL board of governors’ approval later that year. During his stewardship, Gillett immersed himself in the Montreal community, a fact highlighted by current Canadiens owner Geoff Molson:
> “On behalf of the entire Canadiens organisation, I would like to extend my deepest condolences to George’s family. George immersed himself in the Montreal community and was appreciated by everyone in the organisation. We sincerely appreciate his contributions to the Montreal Canadiens during his time as owner.”
Liverpool FC Co‑Ownership and Later Life
Parallel to his NHL involvement, Gillett teamed up with fellow American Tom Hicks to acquire Liverpool FC in 2007. Their partnership lasted until 2010, a period marked by on‑field turbulence and off‑field financial strain that ultimately led to the club’s sale to Fenway Sports Group. After stepping back from high‑profile sports investments, Gillett maintained a low public profile, focusing on philanthropic endeavours and private business interests until his death.
Why it Matters
George Gillett Jr.’s passing marks the end of an era for two storied franchises that continue to shape the cultural landscapes of Montreal and Liverpool. His bold, trans‑Atlantic approach to sports ownership demonstrated both the opportunities and pitfalls of leveraging significant financial capital in the world of professional athletics. As the Canadiens and Liverpool FC each navigate new chapters under different stewardship, Gillett’s legacy serves as a reminder of how individual vision—whether celebrated or contested—can leave an indelible mark on the institutions he touched.
