Sources: Neko Sparks Group still soliciting funding for Ottawa Senators bid
According to sources familiar with the bidding process and purchase of the Ottawa Senators, the Neko Sparks Group is still soliciting funding.
Just merely a month ago, iconic rapper Snoop Dogg aligned himself with Los Angeles-based entrepreneur Neko Sparks to purchase the Senators. They recently added Canadian musician The Weeknd and Canadian comedian Russell Peters to their group. The group also includes former NHLers Grant Fuhr, James Neal, Georges Laraque, and Trevor Daley.
More alarming details surfacing about the Neko Sparks-led bid to buy the #Sens. Sources say within the last 24 hours, the "Sparks Finance Group" is still soliciting funding.
"This is somewhat of an urgent matter," the Sparks Group wrote to prospective investors.
The Neko Sparks Group bid is represented by Goldman Sachs, the world’s largest banking institution. They are also backed by British businessmen David and Simon Reuben. It was reported that during the first round of bids, the Sparks Owernship Group’s offer was as much as $925 million. Perhaps, the reasoning behind soliciting more funding is the ownership group has placed a bid of more than $1 billion.
It was also reported that the Sparks Group has been aggressively soliciting partnerships from investors who are no longer affiliated with any rival bids. It has been noted that the Sparks Group is trying to add more Canadian investors to their portfolio. At the same time, they acknowledged they had received international funding; they are now targeting Canadian investors specifically.
The bidding process currently looks like this; the Sparks group is one of four finalists to purchase the Senators, alongside former Hamilton Bulldogs owner Michael Andlauer, Canadian billionaire Steve Apostolopoulos and the Kimel family, who are involved in construction and real estate. The New York-based Galatioto Sports Partners are handling the sale process.