MONTREAL - Despite claims by Forbes magazine, Geoff Molson says his family and their partners didn't overpay in 2009 to purchase the Montreal Canadiens hockey team.
The chairman of the NHL team says the ownership partners, which includes three Molson brothers, paid what they were prepared to pay.
Unconfirmed reports suggest the group forked over US$575 million for the club, the Bell Centre and the entertainment company Evenko.
In its recent valuation of National Hockey League teams, Forbes put a US$408-million value on the Habs, excluding the entertainment company.
Forbes reporter Kurt Badenhausen said the owners paid too much for the club.
In addition to the Molson family, other owners include Bell Canada (TSX:BCE), the Quebec Solidarity Fund, Ontario businessman Michael Andlauer and Luc Bertrand, former head of the Montreal Exchange and current vice-chairman of National Bank (TSX:NA).
After addressing the Canadian Club, Geoff Molson also told reporters that the Canadiens would love to hire an impact player who is Francophone. But he noted that it's difficult to obtain because of the competition with 29 other teams.
