Toronto billionaire Michael Andlauer has reached an agreement to acquire a 90% stake in the Ottawa Senators, according to an announcement made by the team on Tuesday. Anna and Olivia Melnyk will retain a 10% interest in the team. The sale price for the Senators is reported to be $950 million, as reported by Bruce Garrioch of the Ottawa Sun.
The completion of the deal is contingent upon approval from the NHL and the finalization of the sales process. In a statement, Andlauer expressed his excitement about joining the Ottawa Senators Hockey Club and acknowledged the passionate fanbase. He believes in taking the franchise’s success on and off the ice to the next level and looks forward to engaging with the team, the fanbase, and the community.
The Ottawa Senators were initially put up for sale in November 2022 following the passing of their owner, Eugene Melnyk, in March 2022. Melnyk had owned the team for nearly two decades.
Michael Andlauer has been involved in the hockey industry for many years. He has been associated with the American Hockey League’s Hamilton Bulldogs since 2003, initially as a co-owner and later as the majority owner from 2004. Under his ownership, the Bulldogs claimed the Calder Cup as league champions during the 2006-07 season.
In 2015, Andlauer sold the Hamilton Bulldogs to the Montreal Canadiens and acquired the Ontario Hockey League’s Belleville Bulls. He relocated the Bulls to Hamilton, where they went on to win the OHL Championship in 2018 and 2022.
Additionally, Andlauer obtained a share of the Montreal Canadiens in 2009 and has served as the team’s alternate governor since then.
Outside of the hockey world, Andlauer has over 35 years of experience in the transportation and logistics industry and currently serves as the CEO of Andlauer Healthcare Group Inc. He is also the founder of Bulldog Capital Partners Inc., a Toronto-based merchant bank specializing in private equity investments.
Frequently Asked Questions (FAQs) about Ottawa Senators sale
What is the news about the Ottawa Senators sale?
The news is about Toronto billionaire Michael Andlauer reaching an agreement to purchase 90% of the Ottawa Senators NHL team for $950 million. The sale is pending NHL approval.
Who will retain a minority interest in the Ottawa Senators?
Anna and Olivia Melnyk will retain a 10% interest in the Ottawa Senators.
What is the status of the sale process?
The sale process is currently being finalized and is subject to approval from the NHL.
What experience does Michael Andlauer have in the hockey industry?
Michael Andlauer has been involved in the hockey industry for many years. He was previously associated with the American Hockey League’s Hamilton Bulldogs, owned a share of the Montreal Canadiens, and served as the team’s alternate governor.
What other businesses or industries is Michael Andlauer involved in?
In addition to his involvement in the hockey industry, Michael Andlauer has over 35 years of experience in the transportation and logistics industry. He currently serves as the CEO of Andlauer Healthcare Group Inc. and is the founder of Bulldog Capital Partners Inc., a Toronto-based merchant bank specializing in private equity investments.