Ottawa Senators left wing Parker Kelly (45) skates as projections of the team's logo spin on the ice before an NHL game against the Boston Bruins in Ottawa, on Tuesday, Oct. 18, 2022. A group led by Toronto-based businessman Michael Andlauer has reached an agreement in principle to purchase the NHL's Ottawa Senators for close to $1 billion, according to media reports. THE CANADIAN PRESS/Justin Tang
OTTAWA – A group led by Toronto-based businessman Michael Andlauer has reached an agreement in principle to purchase the NHL’s Ottawa Senators for close to US$1 billion, according to media reports.
Andlauer is the sole owner of the Ontario Hockey League’s Hamilton Bulldogs and a minority owner of the Montreal Canadiens.
The 57-year-old is also the founder and chief executive officer of Andlauer Healthcare Group, which owns health-care supply chain companies, and the founder of Toronto-based merchant bank Bulldog Capital Partners.
Sportico and the Ottawa Sun first reported the sale.
The board of directors of Senators Sports & Entertainment initiated the process to sell the team last November after the death of owner Eugene Melnyk earlier that year.
Melnyk left the franchise to his daughters, Anna and Olivia.
A recent valuation by Forbes listed the Senators at $800 million, 24th out of the NHL’s 30 teams.
This report by The Canadian Press was first published June 13, 2023.
