Liverpool co-owner George Gillett has agreed to sell his stake in the NHL's Montreal Canadiens in a deal reported to be worth at least $550 million (£330 million).
Gillett put the Canadiens up for sale earlier this year. The deal includes his 80 per cent stake in the team, the Bell Centre arena, and the Gillett Entertainment Group.
Geoff Molson, the current 20 per cent shareholder of the Canadiens and owner of North American brewers Molson Coors Brewing Company, is buying Gillett’s share.
It is believed that the sale of such a major asset could ease financial pressures at Liverpool. Gillett and fellow owner at Anfield Tom Hicks have until 24 July to repay £350 million that they owe to RBS and Wachovia.
Kop Holdings, Liverpool’s parent company, lost £42.6 million in the year ending August 2008 with interest payments on loans accounting for £36.5 million.
Liverpool was put on the market last year, for a a reported asking price in the region of £500 million, but no sale was finalised.
