American George Gillett has reached an agreement to sell the Canadiens, the most storied franchise in the NHL, to Canada's Molson family, Canadian media reported Saturday. Montreal's La Presse newspaper, citing unnamed sources, reported on its website that Gillett had reached an agreement in principle to sell the club and the Bell Centre for a price in excess of $500M. Brothers Geoff, Andrew and Justin Molson, whose family made its fortune in the beer brewing business, said earlier this month that had made an offer for the club. The Molson family have long been involved with the Canadiens, a club that celebrated it's centenary last season and has won a record 24 Stanley Cup titles.

A golf resort developer duped nearly two dozen NHL players out of $25M, blowing the money on gratuitous parties that were attended by former Yankees players Roger Clemens and Reggie Jackson, according to a lawsuit filed Thursday. The New York Post reported Friday that 19 former and current players filed suit against Ken Jowdy, alleging they invested the money with the Las Vegas-based golf-course mogul to develop two luxury resorts in Mexico.

Guy Lafleur has been given a one-year suspended sentence, fined $100 and ordered to donate $10,000 to charity for giving contradictory testimony during his son?s 2007 bail hearing, according to an Associated Press report. Quebec Court Judge Claude Parent sentenced Lafleur on Thursday in Montreal.

Jim Balsillie has failed in his bid to have a judge order the Coyotes sold to him and, over the NHL?s objection, moved to Hamilton, Ontario, according to an Associated Press report. His downfall was his self-imposed June 29 deadline for completing the deal. Redfield T. Baum, chief judge of the U.S. Bankruptcy Court in Phoenix, issued a 21-page ruling Monday concluding there was no way the complex case could be resolved by then.

A publicly held company has reportedly agreed to purchase the Florida Panthers for $240 million. A source familiar with the talks revealed the story on Tuesday. Sports Properties Acquisition Corp. has agreed to buy the NHL team; its home, Bank Atlantic Center; an arena management company and some land surrounding the arena.

Potential owner Jim Balsillie has filed an application for the relocation of the Phoenix Coyotes, a move expected to happen later this week, according to an Associated Press report. Balsillie?s spokesman told The Canadian Press late Monday night that Balsillie filed the application with the league office. It includes details why he believes the NHL should consider his proposal to purchase the team for $212.5M and bring it to Ontario.