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No quick fix for new US owner of Canadians written by Kevin Allen of the USA TODAY is about the Montreal Canadians hockey team being sold to a US businessman George Gillett the businessman who has currently bought the Montreal Canadians is former owner of the Harlem Globetrotters The first thing that George Gillett said is there are no thoughts of moving the team anywhere George Gillett bought 801 of the Montreal Canadians plus the Molson Centre for 183 million dollars The Molson Centre cost 275 million to build and the estimated value of the franchise has been reported to be between 150-190 million by various sources The article talks about how there are three or four great pro franchises in North America and when one of those teams is available one must take action As for George Gillett his career as a businessman has been up and down He headed the fourth largest ski resort and owned a major beef-processing company He also owned Gillett Holdings Inc but went bankrupt in 1992 after defaulting on 983 million dollars of junk bonds The basic economic principle used by the author is the concept of cost benefit analysis This article shows how George Gillett saw that one of the major franchises in all of sports was for sale and acted swiftly George Gillett obviously believes that by buying the Montreal Canadians for 183 million he will be able to sell this franchise at a later date for a large profit The article also shows how the original cost of the arena was 275 million to build and the estimated value of the Montreal Canadians is between 150 to 190 million So buying the franchise and the arena for 183 million dollars was a very inexpensive price It was also said in the article that there were no talks of the franchise moving out of Montreal The owner must think that because the Molson Centre
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