It’s simply incredible that Geoff Molson is richer than Apple. While the Montreal Canadiens are worth practically 1.2 billion, Apple is worth less money.
Among the world’s largest brands, five stand out for their financial value, and Apple takes first place with a value of more than US$1 billion.
According to Kantar BrandZ’s 2024 Most Valuable Global Brands report released on Thursday, Apple has become the world’s first business name to reach a billion-dollar value, valued precisely at US$1,015,900 ($1,015,900). THAT).
“With its billion-dollar brand value, Apple has proven its resilience in the face of challenging market conditions, justifying its high prices and demonstrating that meaningful, distinctive and salient brands are best positioned to withstand global economic disruption »said a Kantar BrandZ official.
Google ranks second with a value of US$753,474 (CA$1,035,037.94).
The next companies in the ranking are Microsoft (US$712,883; CA$712,883), Amazon (US$576,622; CA$712,883) and McDonald’s (US$221,902; CA$712,883).
Facebook and Visa are also in the top 10.
Geoff Molson took a big risk buying the Canadiens. This turned out to be a very smart business decision 15 years ago, with CH now valued at US$1.85 billion, according to Forbes.
Geoff Molson purchased the Canadiens and the Bell Center from George Gillett Jr. in 2009 for $575 million. Today, the franchise’s estimated value is US$1.85 billion, according to Forbes.
It was June 2009 and George Gillett Jr. had just accepted Molson’s offer, which would have been $575 million, to buy the Canadiens and the Bell Centre.
“We never disclosed the exact price we paid and this was done on purpose because it is private ” Molson said during a lengthy interview with the Gazette in his office on the seventh floor of the Bell Centre.
“But somehow people seem to have discovered that it’s in this vicinity, even if it’s not the exact number. »
At the time, it was the largest sum ever paid for an NHL franchise.
“How can a hockey team be worth $575 million? » asked Forbes at the time.
“Half of the funds used in the buyout were borrowed, and many of the obvious tactics used to increase the value of the team had already been used by the previous owner,” Forbes reported.
“It could be years before the deal makes financial sense.” »
Molson read this and admits it made him nervous at the time.
“It was a huge price that was paid at the time”he said.
“But I really believed I was doing the right thing. I believed our family was the right people to own and represent this institution.”
“We have a long, long history of doing this. Many of the acquisition partners who decided to join my team did so for that reason, because they felt like they were joining something that was the right thing for the team.”
“So having that confidence was important going in, even though it’s scary because you’re borrowing money and you’re buying a big team.”
The Molson family owned the Canadiens from 1957 to 1971, and Molson Breweries bought the club for $20 million in 1978. The brewery then sold the team and its arena to Gillett in 2001 for $275 million.
Buying the Canadiens turned out to be a very good business decision for Geoff Molson.
Last December, Forbes estimated the Canadiens were worth $1.85 billion, ranking third in the NHL behind the New York Rangers ($2.2 billion) and the Toronto Maple Leafs ($2 billion). US).
“I think it’s a question of supply and demand”Molson said when asked if he could explain the surge in the value of NHL franchises.
“There are only a few professional sports teams in the world and it has become an asset, and I’m excluding myself from what I’m going to say because that’s not why I bought the team , but it has become an asset that billionaires want to have and there are only a few they can have.”
“And so when one becomes available, it puts a lot of pressure to raise the price. I think that’s probably the biggest component of that and you see it in basketball, you see it in football and now you see it in hockey with Ottawa” (the Senators were purchased by Michael Andlauer for almost $1 billion).
“I think in general hockey is live content and you can’t replicate that live content. This is something broadcasters love. If you don’t watch the match live, it’s almost impossible to avoid knowing what happened after the fact. »
Molson recounted how the deal with Gillett to buy the Canadiens was finalized.
He met Gillett in the Bell Center parking lot and told him he had made his final offer.
“I told him, ‘I’m done,’” Molson remembers.
“’You have my last offer. I leave. You’re going to see me get in a taxi and I’m going to the airport and I have a wedding to attend.’ »
In the taxi to the airport, Molson called his father, Eric, who was not involved in the offer.
“I said, ‘I’m done,’” Molson said of his conversation with his father.
‘I’m not sure I’ll get it, Dad.’ He was like, ‘Well, you tried. If you get it, great. If you don’t get it, you tried.’ »
Before boarding the plane at the airport, someone from Molson Bank called and asked:
“Are you sure you don’t want to move a little?” »
“I said, ‘No, I’m done,’ and I got on the plane.”Molson said.
At 11 p.m., after arriving at his destination, Molson’s phone blew up before Gillett had even called to tell him he had the winning bid.
“One way or another, a journalist always finds these things”Molson said.
“So, yes, it was time. Oh, my God, I just won this and now I have all this weight on my shoulders. I look at it very positively now, but it was a moment of great fear at the time. »
It is paradoxical to see Geoff Molson, owner of the Montreal Canadiens, among the richest people in the world, while the city of Montreal remains desperately waiting for a new Stanley Cup.
Although the Montreal Canadiens have an impressive value of around $1.2 billion, and Molson himself has successfully navigated the business, this wealth has yet to lead to the ultimate victory on the ice .
Molson, whose wealth and management skills are undeniable, has invested heavily in the team and its infrastructure.
However, despite all these efforts and resources, the Montreal Canadiens have failed to win the Stanley Cup since 1993.
This contrast highlights a striking paradox: financial wealth and business success do not necessarily guarantee sporting success.
Today, Geoff Molson may be as rich as Croesus, but Montreal fans are still waiting for that fortune to translate into a concrete victory, finally bringing the Stanley Cup back to the city.
You may have all the billions in the world: the Stanley Cup…it’s priceless…
