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NHL commissioner Gary Bettman provides latest update on Ottawa Senators sale
The Ottawa Senators, one of Canada's beloved NHL franchises, are on the cusp of welcoming a new owner. Michael Andlauer, the incoming owner, is all set to officially assume control of the team as early as next week, according to NHL Commissioner Gary Bettman.
NHL insiders have been closely monitoring these developments, with Pierre LeBrun, a prominent figure in hockey reporting, tweeting:
"Gary Bettman says the Ottawa Senators’ sale could close as early as next week."
This eagerly awaited development follows the approval of the sale by the league's executive committee on August 26, marking a significant milestone for the franchise. This update was provided by Reporter Bruce Garrioch.
The winning bid for the Ottawa Senators was led by Toronto billionaire Michael Andlauer and his group, who secured the team for just under $1 billion in a highly competitive bidding war that unfolded in June. This substantial acquisition signaled a new chapter for the Senators, promising fresh leadership and direction for the franchise.
However, Andlauer's transition to becoming the owner of the Senators comes with certain conditions. As part of this significant change in ownership, Andlauer is required to divest his 10 per cent stake in the Montreal Canadiens.
This divestiture is a crucial component of the ownership transfer, ensuring a clear and separate ownership structure between the two prominent NHL teams. If this sale of the Canadiens' stake is not finalized by the takeover date, it will be placed in a trust.
Michael Andlauer, the founder of the Andlauer Healthcare Group, boasts a deep connection to the world of hockey. In addition to his acquisition of the Ottawa Senators, he also owns the Ontario Hockey League's Hamilton Bulldogs, which shows he is committed to the sport and its development. It could turn out to be a positive change for the franchise.
More about the Ottawa Senators bid
The sale of the Senators drew significant interest, with four bids submitted prior to the May 15 deadline. Among the contenders, Michael Andlauer's bid emerged victorious, securing the future of the franchise. Notably, the bidding process also included a celebrity-filled bid from Neko Sparks and other competitive offers.
The change in ownership for the Senators follows a transitional period for the franchise. Anna and Olivia Melnyk, the daughters of the late Eugene Melnyk, took over the team's reins following their father's passing in March 2022. This transition marked a poignant moment in the franchise's history.
The impending change in ownership promises to bring new energy, opportunities, and possibilities to the Ottawa Senators, providing fans with much to look forward to in the upcoming NHL seasons.
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