BREAKING | NHL franchise officially sells for enormous amount of money

Published June 13, 2023 at 8:01

After months of searching for a new ownership group, the Ottawa Senators have finally sold.

According to Post Media's Bruce Garrioch, the Senators have been sold to 57-year-old Michael Andlauer, who owns the OHL's Hamilton Bulldogs and a part-owner of the Montreal Canadiens. Andlauer will need to sell his portion of the Canadiens franchise in the near future. Garrioch went on to add that the sale is for $950 million USD and that Eugene Melynk's daughter's will retain 10% of the franchise.

A couple hours after the report from Bruce Garrioch, the Ottawa Senators released a statement, confirming that they have entered an agreement to purchase the Senators.

"The board of directors of Senators Sports & Entertainment announced today that an entity controlled by Michael Andlauer has entered into an agreement to purchase 90 per cent and operational control of the Ottawa Senators Hockey Club. Anna and Olivia Melnyk, through the Melnyk Estate, will retain a 10 per cent interest in the club. Subject to approval by both the National Hockey League and finalization of the sale process, Andlauer will assume control of the organization's operations." The Senators said.

Michael Andlauer also shared a statement regarding the news, saying he's very excited to join the Senators.

"My family and I are very excited to be a part of the Ottawa Senators Hockey Club. I believe that the Senators' fanbase is one of the most passionate in the league and I'm excited to take the franchise's success 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.

First and foremost, thank you to my wife and family for their support. Thank you to both the NHL and the Melnyk family for providing me with the opportunity to make this dream a reality. Thank you also to my equity partners on the transaction, who like me are committed to bringing success to the National Capital Region. I would also like to thank my financial advisors at Bulldog Capital Partners."

It's unclear when the deal will be made offciail by the NHL as Andlauer will need to meet with the league's Executive Committee before he can be approved by the Board of Governors.

June 13   |   161 answers
BREAKING | NHL franchise officially sells for enormous amount of money

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