Owner “Ottawa Senators “Canadian businessman Michael Endlauer has sold a 10% stake in another NHL club – “Montreal Canadiens “, reports ESPN.
As reported, the club was valued at a record $2.5 billion, so Endlauer received around $250 million. The Molson family, which owns a majority stake in the Canadiens, exercised its right of first refusal to purchase Endlauer’s share.
The entrepreneur bought Ottawa in September of this year for $950 million and, under the terms of the deal, he was forced to part with his stake in Montreal.
Endlauer has been a minority owner of the Canadiens since 2009, when the Molson family purchased the team from George Gillette for $575 million.
Montreal is one of the oldest and most decorated clubs in the NHL; the team has won the Stanley Cup 24 times.
Source : MatchTV
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