Montreal Canadiens minority owner Michael Andlauer could pay around $900 million to buy the Ottawa Senators.
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The businessman and his partners are among nine finalists who have submitted a bid to take over the National Hockey League team, specialist publication Sportico reported on Thursday.
Andlauer, owner of a company specializing in the transportation of healthcare products, has owned the Hamilton Bulldogs, the Habs’ former American League school club-turned-Ontario Junior League team, since 2002. He then joined the Molson family in 2009 when they acquired CH.
The Torontonian’s net worth is around $1.2 billion, which would be enough to add the Senators to his collection, but a group offer is always more tempting. Andlauer is also expected to divest his stake in the Canadiens if he buys the Senators, the Ottawa Sun reported in November.
The concession could sell for $900 million, although Forbes values it at $800 million. In December 2022, the business magazine placed the “Sens” in 24th place out of 32 rackets in terms of value. The construction of a new arena at the LeBreton Flats is also a wish from Ottawa that the new owners must respect.
The consortium around Canadian actor Ryan Reynolds is still in the running, as are seven other groups of investors.