George Gillett Jr., a former majority owner of the Montreal Canadiens, dies at 87

The Canadiens confirmed Gillett's death in a release Thursday. No cause of death was given.

Gillett bought the Bell Centre, then the Molson Centre, and a majority stake in the Canadiens for $275 million on Jan. 31, 2001, with the help of $140 million in loans from two banks and the Caisse de depot et placement du Quebec, the province's pension fund manager.

Gillett owned the Canadiens, one of the Original Six franchises making up the NHL, until agreeing to sell the team and arena to the Molson family on June 20, 2009. The sale was approved by the NHL's board of governors in December of that year.