Gillett 'considering franchise sale'

Liverpool co-owner George Gillett is reportedly considering selling the famous Montreal Canadians NHL franchise as he undertakes a review of his assets.

The news, reported today by Montreal-based newspaper La Presse, is likely to re-open speculation about Gillett’s long-term commitment to Liverpool, which he co-owns with fellow American Tom Hicks.

According to the report, Gillett has called in financial advisors to take stock of his assets, and is considering anything from a restructuring of his interests to a sell-off.

“The process has been started but we’re only at the beginning,” Canadians team president Pierre Boivin told La Presse.

“We’re not hiding it; we’re going through a very difficult economic period.”

Gillett also owns the Canadians’ home arena, the Bell Centre, and a NASCAR team.

He and Hicks bought Liverpool in February 2007 with ambitious plans to build a new stadium.

Since then, the credit crunch has put the stadium on hold, while the two owners engaged in a very public spat before recently claiming their relationship has been repaired.

Last week, Hicks reiterated his commitment to Liverpool for the long term, insisting his share in the team is not for sale, but little has been heard from Gillett.

According to the most recent rankings in American business magazine Forbes, the Canadians franchise is valued at US$334m (€247m).