OTTAWA – Everything indicates that the file of the sale of the Ottawa Senators is about to know its outcome.
A group led by Toronto businessman Michael Andlauer has reached an agreement in principle to buy 90% and operational control of the National Hockey League club.
The team made the announcement in a press release on Tuesday, after media reported the information early in the day.
The press release does not specify the amount of the transaction, but according to our colleague Pierre LeBrun, the sale would be around 950 million in American currency, of course.
According to the statement, Anna and Olivia Melnyk, the adult daughters of former owner Eugene Melnyk, will retain a 10% stake in the club through the Melnyk estate.
Subject to National Hockey League approval and completion of the sale process, Andlauer will assume control of the organization’s operations, the statement added.
Andlauer is the sole owner of the Hamilton Bulldogs, a junior club in the Ontario Hockey League, and a minority owner of the Montreal Canadiens.
The 57-year-old is also the founder and chief executive of Andlauer Healthcare Group, which owns healthcare supply chain companies, and the founder of Toronto-based investment bank Bulldog Capital Partners. .
“I believe the Senators’ fan base is one of the most passionate in the league,” Andlauer said in the statement released by the Ottawa organization.
“I look forward to taking the success of the franchise, both on and off the ice, to the next level. The short and long term future of the team is incredibly bright and I look forward to getting to know the team, the fanbase and the community.”
Sportico and the Ottawa Sun newspaper were the first to announce the transaction.
The Senators Sports & Entertainment board began the process of selling the team last November, after owner Eugene Melnyk passed away from an unspecified illness in March 2022 at the age of 62.
Earlier in June, commissioner Gary Bettman said the sale of the team was about to go through, at a sum, he estimated, of around $1 billion.
Bettman has repeatedly stated that the sale of the Senators will be conditional on the team remaining in the Canadian capital.
