According to numerous reports, the Montreal Canadiens have been sold to the Molson family. The reported price tag for Les Habitantes is over $500M. Included in the sale from current owner George Gillett will be the Bell Centre arena where the Canadiens play.

The Molson family have long been involved with the Canadiens, a club that celebrated it's 100th anniversary  last season and has won a record 24 Stanley Cup titles. The last time the Canadiens won the Stanley Cup was 1993, during Molson's ownership, which began in 1978 when they bought the team from the Bronfman family for 20 million dollars.

Gillett bought an 80.1-per-cent stake in the team in 2001 from Molson brewery for 275 million dollars, with Molson retaining a 19 percent share.

An official announcement is expected later today.

I suspect the price of the Molson Exports I intend to drink next weekend during my downtime just went up. Molson has to get the half a bil somewhere.