George Gillett Jr., former majority owner of the NHL's Montreal Canadiens and part owner of soccer's Liverpool FC, has died at 87. The Canadiens confirmed his death on Wednesday, though no cause was given.

Gillett purchased the Bell Centre, then known as the Molson Centre, and a majority stake in the Canadiens for $275 million on Jan. 31, 2001, using $140 million in loans from two banks and the Caisse de depot et placement du Quebec. He owned the franchise, one of the NHL's Original Six, until agreeing to sell the team and arena to the Molson family on June 20, 2009, with the sale approved by the NHL's board of governors in December of that year.

NHL Commissioner Gary Bettman praised Gillett's passion for the Canadiens and his commitment to Montreal, noting his role in preparations for the franchise's Centennial Celebration. Canadiens owner, president and CEO Geoff Molson echoed those sentiments, highlighting Gillett's immersion in the Montreal community.

Gillett, along with fellow American Tom Hicks, owned Liverpool from 2007 to 2010. Born on Oct. 22, 1938, in Racine, Wisconsin, he rose to prominence as the founder of Brook Creek Management Corp., a portfolio management firm.