Report: Michael Andlauer reaches principle deal to purchase Ottawa Senators for around $1 billion

According to Postmedia’s Bruce Garrioch, a group led by Toronto-based billionaire Michael Andlauer has won the bidding war to become the new ownership group of the Ottawa Senators.

Per Garrioch, the deal is believed to be worth around $1 billion USD. According to Scott Soshnick of Sportico, the deal is the highest ever for an NHL club. As part of the sale, Anna and Olivia Melnyk – the daughters of late team owner Eugene Melnyk – will retain 10 percent of the franchise.

The Senators were put up for sale officially on Nov. 7, 2022, eight months after Melnyk’s passing due to a lengthy illness.

As part of the deal, the team is to stay in Ottawa and won’t be relocated. The deal still needs approval from Gary Bettman and the NHL’s board of governors, who are set to meet in New York later this month.

Andlauer currently owns 10 percent of the Montreal Canadiens, but will be forced to sell his share as a result of the bid. He also owns the OHL’s Brantford Bulldogs, which recently moved from their long-time home in Hamilton.

The 57-year-old is the founder of the Andlauer Healthcare Group, an organization that specializes in transportation and logistics in the healthcare sector. Andlauer beat out bids from groups including the Remington Group and Ryan Reynolds; Neko Sparks, Snoop Dogg and a host of other big-name celebrities; The Weeknd and Toronto billionaires Michael and Jeffrey Kimel; Canadian billionaire Steve Apostolopoulos; real estate developer Roger Greenberg; and The Hockey News publisher Graeme Roustan.

One major piece to be decided is the future of a new arena. According to Garrioch’s sources, Andlauer has not decided whether the team will play closer to downtown Ottawa or in the LeBreton Flats area.

The Senators missed the Stanley Cup playoffs this year, losing out to Florida in the final Eastern Conference wild-card spot by six points.