Canadiens should have local ownership, PQ says
The time has come to bring ownership of the Montreal Canadiens back to Quebec says the Parti Québécois and what better way to do it then to get the province's homegrown Caisse de dépôt et placement in on the act?
After all, the Caisse was involved in a transaction eight years ago when Denver businessman George Gillett borrowed $140-million from the pension fund to help buy the team.
Now the team may be up for sale again and the PQ contends that nationalist aspirations should inspire the Caisse to help Quebec entrepreneurs buy it back.
The Caisse lost close to $40-billion last year and this could be a way to win back some of those record losses, the PQ argued.
"The Montreal Canadiens is more than just a professional hockey team, it is part of the social and cultural fibre of the Quebec nation," said PQ leader Pauline Marois, convinced that buying the team makes good business sense.
It is time Premier Jean Charest and his Finance Minister Monique Jérôme-Forget recognized it, Marois added.
"Yesterday, we were surprised to hear the Finance Minister say that she didn't consider the Montreal Canadiens to be a good investment. She spoke without knowing that the Montreal Canadiens was a profitable business, an investment that paid-off for its current owner at least," Ms. Marois said in the National Assembly. "It is sad that she is sending a signal to the Caisse managers not to get involved."