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Businessman Aquilini buys 50 percent

11/17/2004 - Vancouver Canucks

VANCOUVER, British Columbia -- Vancouver businessman Francesco
Aquilini bought 50 percent of the Canucks from American John
McCaw.
The purchase price was not immediately disclosed. The surprise
sale came during the NHL lockout, which has wiped out the season so
far.
"We got a fair deal. We're very happy," Aquilini said
Wednesday. "Local ownership adds value; it puts deeper roots in
the community. I think it's a good thing. People have been wanting
that for a long time."
McCaw has said for years that he would like to sell all or part
of the team to local owners.
After many years of losses since the U.S. billionaire bought the
club in 1995, the Canucks turned healthy profits the past two
seasons.
The Aquilini Group has developed as many as 4,000 residential
units in British Columbia and hotel projects in Vancouver, Calgary
and Montreal.