After months of negotiations, the National Hockey League (NHL) finally agreed on Thursday to sell the Ottawa Senators to businessman Michael Andlauer for a record sum.
According to Ottawa Sun journalist Bruce Garrioch, the $950 million check handed out for the purchase represents an unprecedented result for the NHL. The Senators are expected to announce the new owner at a press conference later this week officially introduced at the Canadian Tire Centre.
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In a letter to fans, Andlauer said he intends to make the Senators a winning team. He praised “the best crowd in the NHL” and believed that Ottawa had stood in the shadow of metropolises like Montreal and Toronto for too long.
“We are a team that operates between two major hockey markets and both believe they are the center of the hockey universe. “I have been an underdog my whole life and I know we have the team, staff, fans and community to prove them wrong,” he wrote.
Andlauer’s comments are surprising since he was until recently a minority owner of the Montreal Canadiens. The 57-year-old also owns the Hamilton Bulldogs, an Ontario Junior League (OHL) team.
“My partners and I may own the team on paper, but in reality this team belongs to the people of Ottawa-Gatineau,” he continued. I promise that I will care for your team with the utmost respect, with complete integrity and with tremendous attention, both on and off the ice.
A long process
The agreement in principle between the Andlauer Group and the company Galatioto Sports Partners, which negotiated the successor to Eugene Melnyk, was concluded on June 13th. The former owner’s daughters retain 10% of the organization’s shares.
“On behalf of the estate, Anna and Olivia Melnyk and the outgoing Board of Directors, we would like to congratulate Michael Andlauer on his purchase of the Ottawa Senators,” added outgoing President and Governor Sheldon Plener. Michael’s passion and commitment to excellence will enable him to achieve great things for the entire National Capital Region, and we are proud that he will lead this franchise into the future.”
Outside of ice hockey, the businessman is the founder and CEO of the Andlauer Healthcare Group. He knew how to surround himself with investors who, like himself, had great wealth, which allowed him to stay one step ahead of his competitors.
The Senators’ sales process ultimately took 10 months, during which several groups expressed interest. Actor Ryan Reynolds and rapper Snoop Dogg were reportedly in the running.
There are rumors that former Edmonton Oilers general manager Peter Chiarelli could join the organization as he is close to Andlauer. The project to build a new amphitheater in LeBreton Plains is also likely to be discussed in the coming months.