Hockey

Bell could sell its 20% minority stake in Groupe habs within two years
Marc-Olivier Cook
Bell could sell its 20% minority stake in Groupe habs within two years
Credit: Screenshot / X

In 2024, Bell(Cell Canada Enterprises/BCE Inc) announced that it had sold its stake in Maple Leaf Sports And Entertainment(MLSE Inc) for $4.7 billion.

That's a lot of money.

That said… an article in La Presse suggests that Bell may ALSO sell its 20% minority stake in Groupe Habs within the next two years. Let's not forget that the value of the Canadiens is estimated at around 4.6 billion Canadian dollars…

It has to be said that the marriage between BCE and hockey has always been more financial than emotional. The Canadiens is an ultra-profitable, stable, prestigious brand… And for a telecom giant, it's a safe investment… but not an essential one, because it's not excessively profitable either.

In the article in question, written by Richard Dufour, we read… this:

BCE management has not commented on a specific timing for the divestiture of its interest in the Montreal Canadiens, but has indicated that it is a non-strategic asset, and could be monetized over the next two years. – Richard Dufour

When a company says an asset is “non-strategic,” you have to stop pretending you don't understand. It means: we want out…

(Credit: Getty Images)

For Groupe Habs, this possible sale wouldn't necessarily be bad news.

Geoff Molson, after all, likes control and stability. Removing a minority shareholder could simplify certain internal dynamics… but at the same time, I wonder who would be interested in buying this block of shares.

A québécois investor? A fund? An outside company? Could Geoff Molson simply buy back the shares in question?

For now, we're talking about a possibility, not a certainty. That's an important distinction to make.

But… the mere fact that the subject is back on the table today speaks volumes. And it sends a signal: the Habs may be for sale… at least in part. And in the business world, that kind of signal rarely goes out on its own.

It's sure to generate interest if it comes to fruition. Still, we're talking about the Montreal Canadiens…


Overtime

– Phew.

– Obviously.

– Yikes.

– Amazing!

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