The Montreal Canadiens confirmed Monday morning that they might be up for sale by American owner George Gillett.
Team president Pierre Boivin said Gillett has hired the Bank of Montreal to look at possibly selling off some of his assets, but refused to make any further comments about the team's performance or its future.
The news comes at a difficult time for the team, as it struggles to make the playoffs during its 100th anniversary.
"The Gillett family has retained the services of financial advisers to assess various strategic alternatives to optimize the value of its corporate assets," Boivin said in a statement Monday.
"In Canada, the family has retained the services of BMO Capital Markets and the process is underway."
Gillett bought the NHL team and the Bell Centre in 2001.
He has retained financial firms in Canada and around the world to "optimize the value" of his holdings in sports, entertainment and other businesses.
That includes the possible sale of the Canadiens, although team president Pierre Boivin said the league's oldest franchise is in no danger of going out of business.
Multiple Holdings
Gillett owns 80.1 percent of the Canadiens and the Bell Centre, and co-owns English soccer giant Liverpool FC.
His holdings also include the Gillett Evernham NASCAR team and the Gillett Entertainment Group.
Last November, BlackBerry maker Jim Balsillie said the Canadiens were for sale, but that was vehemently denied by Gillett at the time.
