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(max-width:47.999rem){.a-subscription-footer-nav__list-item a{padding-left:1rem}}.a-subscription-footer-nav__subscriber-link{margin:0 auto;width:78%}.a-subscription-article-section{margin-top:0;margin-bottom:0}@media only screen and (max-width:47.999rem){.a-subscription-article-section{margin-top:1.2rem;margin-bottom:1.2rem}}.a-subscription-article-section>div{width:85%}@media only screen and (max-width:100rem) and (min-width:62.5rem){.a-subscription-article-section>div{width:95%;margin:0 auto}}@media only screen and (max-width:78.75rem) and (min-width:48rem){.a-subscription-article-section>div{width:98%;margin:0 auto}}@media only screen and (max-width:47.999rem){.a-subscription-article-section>div{width:100%}}@media only screen and (max-width:100rem) and (min-width:62.5rem){.a-subscription-article-section h3{font-size:1.6rem}}@media only screen and (max-width:78.75rem) and (min-width:48rem){.a-subscription-article-section h3{font-size:1.4rem}}@media only screen and (max-width:62.5rem) and (min-width:48rem){.a-subscription-article-section h3{font-size:1.1rem}}@media only screen and (max-width:100rem) and (min-width:62.5rem){.a-subscription-article-section p{font-size:1.2rem}}@media only screen and (max-width:78.75rem) and (min-width:48rem){.a-subscription-article-section p{font-size:1rem}}@media only screen and (max-width:62.5rem) and (min-width:48rem){.a-subscription-article-section p{font-size:.7rem}}.a-subscribe-busisness-section{width:74%;padding-top:4.125rem;padding-bottom:5rem}@media only screen and (max-width:100rem) and (min-width:62.5rem){.a-subscribe-busisness-section{width:85%}}@media only screen and (max-width:78.75rem) and (min-width:48rem){.a-subscribe-busisness-section{width:90%}}@media only screen and (max-width:47.999rem){.a-subscribe-busisness-section{padding-top:2.25rem;padding-bottom:3rem}}.a-subscribe-busisness-section p{font-size:1.375rem;line-height:2.125rem}@media only screen and (max-width:62.5rem) and (min-width:48rem){.a-subscribe-busisness-section p{font-size:1.25rem;line-height:1.625rem}}@media only screen and (max-width:47.999rem){.a-subscribe-busisness-section p{font-size:1rem;line-height:1.5rem}}.a-subscribe-page-header{box-shadow:0 .125rem .313rem 0 rgba(0,0,0,.12)}.a-subscribe-page-header .subscribe-header-btn{font-size:1.563rem;letter-spacing:.078rem;line-height:2rem}@media only screen and (max-width:47.999rem){.a-subscribe-page-header .subscribe-header-btn{font-size:.625rem;letter-spacing:.031rem;line-height:.813rem}}.section-header-text h1{font-size:3.25rem;line-height:3.938rem;width:56.2rem}@media only screen and (max-width:62.5rem) and (min-width:48rem){.section-header-text h1{font-size:2.25rem;line-height:2.9rem;width:44.25rem}}@media only screen and (max-width:47.999rem){.section-header-text h1{font-size:1.625rem;line-height:1.875rem;padding-left:2rem;padding-right:2rem;width:100%}}.section-header-text p{width:56.2rem}@media only screen and (max-width:62.5rem) and (min-width:48rem){.section-header-text p{width:44.25rem}}@media only screen and (max-width:47.999rem){.section-header-text p{width:100%;line-height:1.5rem}}.piano-subscription-offers-wrapper{background-size:contain;background-position:50%;background-repeat:no-repeat;height:auto;min-height:31.25rem}@media only screen and (max-width:48rem){.piano-subscription-offers-wrapper{background-image:none!important}}@media only screen and (max-width:47.999rem){.piano-subscription-offers-wrapper{background-image:none!important;min-height:auto}}.subscription-footer-list li{position:relative}.subscription-footer-list li:after{content:"";color:#fff;position:absolute;border-right:1px solid #fff;right:-.438rem;top:.188rem;height:.875rem}.subscription-footer-list li:last-child:after{display:none}.a-subscription-sticky-footer{background-color:transparent;z-index:3;width:100%}.has-side-skins .a-subscription-sticky-footer,.has-side-skins .a-subscription-sticky-footer .tp-container-inner,.has-side-skins .a-subscription-sticky-footer .tp-container-inner iframe{--site-max-width:72.5rem;max-width:--site-max-width}.lrv-a-term-content-grid{display:grid;grid-template-columns:1fr;grid-template-rows:repeat(2,auto);gap:0 1em;grid-template-areas:"col1" "col2" "full"}@media (min-width:62.5rem){.lrv-a-term-content-grid{gap:0 2em;grid-template-columns:40% 1fr;grid-template-areas:"col1 col2" "full full"}}.lrv-a-term-content-grid__primary,.lrv-a-term-content-grid__secondary{grid-area:col1}.lrv-a-term-content-grid__primary+.lrv-a-term-content-grid__secondary{grid-area:col2}.lrv-a-term-content-grid__tertiary{grid-area:full}.lrv-a-term-content-grid__fact-list-menu{grid-gap:8px 1em}.lrv-a-term-content-grid__fact-list-item{display:grid;grid-template-columns:40% 1fr;grid-gap:8px}@media (max-width:47.999rem){.lrv-a-term-content-grid__fact-list-item{grid-template-columns:1fr}}@media (min-width:48rem){.lrv-a-term-content-grid__fact-list-item{grid-gap:1em;grid-template-columns:20% 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.lrv-a-wrapper{padding-left:0;padding-right:0}.lrv-u-background-color-grey-light{background-color:#dcdcdc;background-color:var(--background-color-grey-light,#dcdcdc)}.lrv-u-background-color-grey-lightest{background-color:#efefef;background-color:var(--background-color-grey-lightest,#efefef)}.lrv-u-background-color-grey-dark{background-color:#8c8c8c;background-color:var(--background-color-grey-dark,#8c8c8c)}.lrv-u-background-color-grey{background-color:#8c8c8c;background-color:var(--background-color-grey,#8c8c8c)}.lrv-u-background-color-body{background-color:#fff;background-color:var(--background-color-body,#fff)}.lrv-u-background-color-brand-secondary{background-color:#abca59;background-color:var(--background-color-brand-secondary,#abca59)}.lrv-u-background-color-black{background-color:#000;background-color:var(--background-color-black,#000)}.lrv-u-background-color-white{background-color:#fff;background-color:var(--background-color-white,#fff)}.lrv-u-background-color-brand-primary{background-color:#b22a2d;background-color:var(--background-color-brand-primary,#b22a2d)}.lrv-u-background-color-grey-darkest{background-color:#323232;background-color:var(--background-color-grey-darkest,#323232)}.lrv-u-background-color-random-specific{background-color:"#B0C0E5";background-color:var(--background-color-random-specific,#b0c0e5)}.lrv-u-background-color-transparent{background-color:transparent}@media 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(max-width:47.999rem){.lrv-u-border-a-1\@mobile-max{border-width:1px}}@media (min-width:62.5rem){.lrv-u-border-t-0\@desktop{border-top-width:0}}@media (min-width:62.5rem){.lrv-u-border-a-0\@desktop{border-width:0}}@media (min-width:62.5rem){.lrv-u-border-r-1\@desktop{border-right-width:1px}}.lrv-u-align-items-center{align-items:center}.lrv-u-justify-content-center{justify-content:center}.lrv-u-justify-content-space-evenly{justify-content:space-evenly}.lrv-u-justify-content-space-between{justify-content:space-between}.lrv-u-align-items-start{align-items:flex-start}.lrv-u-justify-content-start{justify-content:flex-start}.lrv-u-justify-content-end{justify-content:flex-end}.lrv-u-align-items-end{align-items:flex-start}@media (min-width:62.5rem){.lrv-u-align-items-center\@desktop{align-items:center}.lrv-u-justify-content-center\@desktop{justify-content:center}.lrv-u-justify-content-space-evenly\@desktop{justify-content:space-evenly}.lrv-u-justify-content-space-between\@desktop{justify-content:space-between}.lrv-u-align-items-start\@desktop{align-items:flex-start}.lrv-u-justify-content-start\@desktop{justify-content:flex-start}.lrv-u-justify-content-end\@desktop{justify-content:flex-end}.lrv-u-align-items-end\@desktop{align-items:flex-start}}.lrv-u-color-white{color:#fff;color:var(--color-white,#fff)}.lrv-u-color-grey-light{color:#dcdcdc;color:var(--color-grey-light,#dcdcdc)}.lrv-u-color-grey{color:#8c8c8c;color:var(--color-grey,#8c8c8c)}.lrv-u-color-grey-dark{color:#8c8c8c;color:var(--color-grey-dark,#8c8c8c)}.lrv-u-color-black{color:#000;color:var(--color-black,#000)}.lrv-u-color-brand-primary{color:#b22a2d;color:var(--color-brand-primary,#b22a2d)}.lrv-u-color-brand-secondary{color:#abca59;color:var(--color-brand-secondary,#abca59)}.lrv-u-color-random-specific{color:"#B0C0E5";color:var(--color-random-specific,#b0c0e5)}.lrv-u-color-grey-29{color:#4a4a4a;color:var(--color-grey-29,#4a4a4a)}.lrv-u-color-grey-36{color:#5c5c5c;color:var(--color-grey-36,#5c5c5c)}.lrv-u-color-grey-45{color:#747474;color:var(--color-grey-45,#747474)}.lrv-u-color-grey-28{color:#474747;color:var(--color-grey-28,#474747)}.lrv-u-color-black-16{color:#292929;color:var(--color-black-16,#292929)}@media 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(min-width:62.5rem){.lrv-u-color-grey-36\@desktop{color:#5c5c5c;color:var(--color-grey-36,#5c5c5c)}}@media (min-width:62.5rem){.lrv-u-color-grey-45\@desktop{color:#747474;color:var(--color-grey-45,#747474)}}@media (min-width:62.5rem){.lrv-u-color-grey-28\@desktop{color:#474747;color:var(--color-grey-28,#474747)}}@media (min-width:62.5rem){.lrv-u-color-black-16\@desktop{color:#292929;color:var(--color-black-16,#292929)}}.lrv-u-display-block{display:block}.lrv-u-display-contents{display:contents}.lrv-u-display-inline{display:inline}.lrv-u-display-inline-block{display:inline-block}.lrv-u-display-none{display:none}.lrv-u-display-table{display:table}.lrv-u-display-inline-flex{display:inline-flex}@media (min-width:62.5rem){.lrv-u-display-block\@desktop{display:block}.lrv-u-display-contents\@desktop{display:contents}.lrv-u-display-inline\@desktop{display:inline}.lrv-u-display-inline-block\@desktop{display:inline-block}.lrv-u-display-none\@desktop{display:none}.lrv-u-display-inline-flex\@desktop{display:inline-flex}}@media (max-width:47.999rem){.lrv-u-display-none\@mobile-max{display:none}}.lrv-u-flex{display:flex}.lrv-u-flex-grow-1{flex-grow:1}.lrv-u-flex-shrink-0{flex-shrink:0}.lrv-u-flex-wrap-wrap{flex-wrap:wrap}.lrv-u-flex-direction-column{flex-direction:column}@media (min-width:62.5rem){.lrv-u-flex\@desktop{display:flex}.lrv-u-flex-grow-1\@desktop{flex-grow:1}.lrv-u-flex-shrink-0\@desktop{flex-shrink:0}.lrv-u-flex-wrap-wrap\@desktop{flex-wrap:wrap}.lrv-u-flex-direction-column\@desktop{flex-direction:column}}@media (min-width:48rem){.lrv-u-flex\@tablet{display:flex}}@media (min-width:48rem){.lrv-u-flex-direction-column\@tablet{flex-direction:column}}@media (max-width:47.999rem){.lrv-u-flex-direction-column\@mobile-max{flex-direction:column}}.lrv-u-font-family-primary{font-family:Georgia,serif;font-family:var(--font-family-primary,Georgia,serif)}.lrv-u-font-family-secondary{font-family:Georgia,serif;font-family:var(--font-family-secondary,Georgia,serif)}.lrv-u-font-family-body{font-family:Georgia,serif;font-family:var(--font-family-body,Georgia,serif)}.lrv-u-font-family-basic{font-family:Helvetica,sans-serif;font-family:var(--font-family-basic,Helvetica,sans-serif)}.lrv-u-font-family-primary\@desktop{font-family:Georgia,serif;font-family:var(--font-family-primary,Georgia,serif)}.lrv-u-font-family-secondary\@desktop{font-family:Georgia,serif;font-family:var(--font-family-secondary,Georgia,serif)}.lrv-u-font-family-body\@desktop{font-family:Georgia,serif;font-family:var(--font-family-body,Georgia,serif)}.lrv-u-font-family-basic\@desktop{font-family:Helvetica,sans-serif;font-family:var(--font-family-basic,Helvetica,sans-serif)}.lrv-u-font-size-8{font-size:.5rem}.lrv-u-font-size-10{font-size:.625rem}.lrv-u-font-size-12{font-size:.75rem}.lrv-u-font-size-14{font-size:.875rem}.lrv-u-font-size-16{font-size:1rem}.lrv-u-font-size-18{font-size:1.125rem}.lrv-u-font-size-20{font-size:1.25rem}.lrv-u-font-size-24{font-size:1.5rem}.lrv-u-font-size-28{font-size:1.75rem}.lrv-u-font-size-32{font-size:2rem}.lrv-u-font-size-36{font-size:2.25rem}.lrv-u-font-size-40{font-size:2.5rem}.lrv-u-font-size-50{font-size:3.125rem}.lrv-u-font-size-86{font-size:5.375rem}@media 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(min-width:62.5rem){.lrv-u-font-size-20\@desktop{font-size:1.25rem}}@media (min-width:62.5rem){.lrv-u-font-size-24\@desktop{font-size:1.5rem}}@media (min-width:62.5rem){.lrv-u-font-size-26\@desktop{font-size:1.625rem}}@media (min-width:62.5rem){.lrv-u-font-size-32\@desktop{font-size:2rem}}@media (min-width:62.5rem){.lrv-u-font-size-36\@desktop{font-size:2.25rem}}@media (min-width:62.5rem){.lrv-u-font-size-50\@desktop{font-size:3.125rem}}@media (min-width:78.75rem){.lrv-u-font-size-56\@desktop-xl{font-size:3.5rem}}@media (min-width:78.75rem){.lrv-u-font-size-18\@desktop-xl{font-size:1.125rem}}@media (min-width:78.75rem){.lrv-u-font-size-32\@desktop-xl{font-size:2rem}}@media (min-width:78.75rem){.lrv-u-font-size-28\@desktop-xl{font-size:1.75rem}}@media 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(max-width:47.999rem){.u-height-10\@mobile-max{height:.625rem}}@media (min-width:48rem){.u-height-312\@tablet{height:19.375rem}}@media (min-width:78.75rem){.u-height-128\@desktop-xl{height:8rem}}@media (min-width:78.75rem){.u-height-138\@desktop-xl{height:8.625rem}}@media (min-width:78.75rem){.u-height-154\@desktop-xl{height:9.625rem}}@media (min-width:78.75rem){.u-height-630\@desktop-xl{height:39.375rem}}@media (min-width:78.75rem){.u-height-662\@desktop-xl{height:41.375rem}}@media (min-width:48rem){.u-height-40\@tablet{height:2.5rem}}@media (min-width:48rem){.u-height-45\@tablet{height:2.8125rem}}@media (min-width:48rem){.u-height-60\@tablet{height:3.75rem}}@media (min-width:78.75rem){.u-letter-spacing-0031\@desktop-xl{letter-spacing:.031rem}}@media (min-width:48rem){.u-letter-spacing-012\@tablet{letter-spacing:.125rem}}.u-margin-t-00{margin-top:0}.u-margin-t-3{margin-top:3rem}@media (max-width:47.999rem){.u-margin-t-00\@mobile-max{margin-top:0}}@media 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(min-width:48rem){.u-margin-b-3\@tablet{margin-bottom:3rem}}@media (min-width:48rem){.u-margin-l-2\@tablet{margin-left:2rem}}@media (min-width:62.5rem){.u-margin-t-2\@desktop{margin-top:2rem}}@media (min-width:62.5rem){.u-margin-r-1\@desktop{margin-right:1rem}}@media (min-width:78.75rem){.u-margin-t-00\@desktop-xl{margin-top:0}}@media (min-width:78.75rem){.u-margin-r-2\@desktop-xl{margin-right:2rem}}@media (max-width:62.499rem){.u-margin-b-2\@desktop-max{margin-bottom:2rem}}@media (max-width:62.499rem){.u-margin-b-1\@desktop-max{margin-bottom:1rem}}@media (min-width:48rem){.u-margin-t-150\@tablet{margin-top:1.5rem}}@media (min-width:62.5rem){.u-margin-l-auto\@desktop{margin-left:auto}}@media (min-width:62.5rem){.u-margin-t-auto\@desktop{margin-top:auto}}@media (max-width:62.499rem){.u-margin-lr-auto\@desktop-max{margin-left:auto;margin-right:auto}}@media (min-width:48rem){.u-margin-lr-auto\@tablet{margin-left:auto;margin-right:auto}}@media 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</li> </ul> </nav> </div> <h1 class="article-title // a-font-primary-bold-xxl u-line-height-1@tablet u-padding-t-075@tablet lrv-u-text-transform-uppercase">NHL’s Ottawa Senators to be Sold to Andlauer for Nearly $1 Billion</h1> </header> <div class="a-article-grid__author lrv-u-flex lrv-u-padding-tb-025"> <div class="author // lrv-u-font-size-12 lrv-u-width-100p@mobile-max u-padding-tb-050@desktop-max u-align-self-center"> <div class="multiple-authors-wrapper lrv-u-font-family-primary"> <div class="lrv-u-font-weight-bold lrv-u-margin-tb-00 lrv-u-text-transform-uppercase lrv-u-display-inline-block"> By&nbsp <div class="c-tagline a-font-primary-medium lrv-u-font-weight-bold lrv-u-text-transform-uppercase lrv-u-color-black lrv-u-display-inline u-margin-r-2@tablet a-children-link-color-black" > <a href="https://www.sportico.com/author/kurt-badenhausen/"><span>Kurt Badenhausen</span></a>, <a href="https://www.sportico.com/author/eben-novy-williams/"><span>Eben Novy-Williams</span></a>, <a href="https://www.sportico.com/author/scott-soshnick/"><span>Scott Soshnick</span></a> </div> <time class="c-timestamp lrv-u-color-black lrv-u-display-inline-block u-display-block@mobile-max" datetime="2019-09-03" > June 13, 2023 8:55am </time> </div> </div> </div> </div> <div class="a-article-grid__social lrv-u-margin-l-auto@tablet lrv-u-flex"> <div class="social-share lrv-u-align-items-center lrv-u-flex"> <ul class="social-share-items lrv-a-unstyle-list lrv-u-flex u-flex-wrap-wrap a-space-children--2 a-space-children--1@mobile-max lrv-a-space-children-horizontal" data-collapsible="collapsed"> <li class=""> <a class="lrv-a-unstyle-link lrv-u-border-color-grey-light lrv-u-display-block u-display-inline-flex u-color-facebook" href="https://www.facebook.com/dialog/share?title=NHL’s%20Ottawa%20Senators%20to%20be%20Sold%20to%20Andlauer%20for%20Nearly%20$1 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lrv-u-margin-b-1"> <figure class="o-figure lrv-u-max-width-100p" style=""> <div class="c-lazy-image "> <div class="lrv-a-crop-16x9" style=""> <img class="c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto" src="https://www.sportico.com/wp-content/uploads/2023/05/Senators.png?w=1280&h=720&crop=1" alt="Ottawa Senators" srcset="https://www.sportico.com/wp-content/uploads/2023/05/Senators.png?w=1280&h=720&crop=1 1280w, https://www.sportico.com/wp-content/uploads/2023/05/Senators.png?w=1280&h=720&crop=1&resize=300%2C169 300w, https://www.sportico.com/wp-content/uploads/2023/05/Senators.png?w=1280&h=720&crop=1&resize=1024%2C576 1024w, https://www.sportico.com/wp-content/uploads/2023/05/Senators.png?w=1280&h=720&crop=1&resize=125%2C70 125w, https://www.sportico.com/wp-content/uploads/2023/05/Senators.png?w=1280&h=720&crop=1&resize=681%2C383 681w, https://www.sportico.com/wp-content/uploads/2023/05/Senators.png?w=1280&h=720&crop=1&resize=450%2C253 450w, https://www.sportico.com/wp-content/uploads/2023/05/Senators.png?w=1280&h=720&crop=1&resize=910%2C511 910w, https://www.sportico.com/wp-content/uploads/2023/05/Senators.png?w=1280&h=720&crop=1&resize=1000%2C563 1000w" sizes="(min-width: 100rem) 1600px, (min-width: 90rem) 1440px, (min-width: 87.5rem) 1000px, (min-width: 78.75rem) 681px, (min-width: 48rem) 450px, (max-width: 48rem) 250px" height="" width="" decoding="async"> </div> </div> <figcaption class="c-figcaption lrv-u-flex lrv-u-flex-direction-column lrv-u-font-family-primary lrv-u-font-weight-bold lrv-u-font-size-14 lrv-u-margin-t-050"> <span class="">Billionaire Eugene Melnyk bought the Senators out of bankruptcy in 2003, and at times during his stewardship they've had trouble reaching the salary cap floor. </span> <cite class="lrv-u-font-weight-normal lrv-u-font-size-10 lrv-u-text-transform-uppercase lrv-u-color-grey lrv-u-margin-t-025">Illustration by Lorenzo Gordon, Photo by Getty Images</cite> </figcaption> </figure> </div> <div class="a-content a-content--left-space lrv-a-floated-parent lrv-u-font-family-body lrv-u-line-height-large lrv-u-font-size-18 u-color-black-16">  <div class="pmc-not-a-paywall"><p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Michael Andlauer has reached an agreement to acquire the <a href="https://www.sportico.com/t/nhl/" id="auto-tag_nhl_2" data-tag="nhl" >NHL</a>’s <a href="https://www.sportico.com/t/ottawa-senators/" id="auto-tag_ottawa-senators_2" data-tag="ottawa-senators" >Ottawa Senators</a>. The team sold for almost $1 billion, according to people familiar with the matter. </p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> The group is acquiring the team from the estate of Eugene Melnyk, who died in March 2022 (the Melnyk estate will retain a 10 percent interest in the club). The pharmaceuticals billionaire had acquired the team out of bankruptcy two decades ago for $92 million, and last fall, the Melnyk family retained <a href="https://www.sportico.com/t/galatioto-sports-partners/" id="auto-tag_galatioto-sports-partners_2" data-tag="galatioto-sports-partners" >Galatioto Sports Partners</a> (GSP) to explore a possible sale. The deal is still subject to league approval.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> “I believe that the Senators’ fanbase is one of the most passionate in the league, and I’m excited to take the franchise’s success both on and off the ice to the next level,” Andlauer said in a <a href="https://www.nhl.com/senators/news/michael-andlauer-has-entered-into-an-agreement-to-purchase-the-senators/c-344844070" target="_blank" rel="noreferrer noopener nofollow" >statement</a> released by the team. “The short and long-term future of the team is incredibly bright, and I look forward to getting to know the team, the fanbase and the community.” <div class="admz " id="adm-inline-article-ad-1"> <div class="adma boomerang " data-device="Desktop" data-width="300"> <div style="min-width:300px;min-height:275px;" class="pmc-adm-boomerang-pub-div ad-text" data-priority="10" > <div id="gpt-sprt-dsk-tab-midarticle-uid0" class=" adw-300 adh-250" data-is-adhesion-ad=""> <script type="application/javascript"> blogherads.adq.push(function () { blogherads .defineSlot( 'medrec', 'gpt-sprt-dsk-tab-midarticle-uid0' ) .setTargeting( 'pos', ["mid-article","btf","mid","mid-articleX"] ) .setTargeting( 'viewable', 'yes' ) .setSubAdUnitPath("ros\/mid-article") .addSize([[300,250],[620,366]]) .setClsOptimization("minsize") ; }); </script> </div> </div> </div> </div> </p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Representatives for GSP declined to comment on the sale.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Last year, <em>Sportico</em> valued the Senators at $655 million, 27th in the 32-team league. The Senators have missed the playoffs in six straight seasons, generate the NHL’s third lowest revenue and consistently lose money.</p> <div class="post-content-image // "> <figure class="o-figure size-large alignnone lrv-u-max-width-100p" style="width:100%; max-width:1024px;"> <div class="c-lazy-image "> <div class="lrv-a-crop-16x9" style="padding-bottom:calc((515/1024)*100%);"> <img decoding="async" class="c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto" src="https://www.sportico.com/wp-content/themes/vip/pmc-sportico-2020/assets/public/lazyload-fallback.gif" data-lazy-src="https://www.sportico.com/wp-content/uploads/2023/05/Senators-Card.jpg?w=300" alt="" data-lazy-srcset="https://www.sportico.com/wp-content/uploads/2023/05/Senators-Card.jpg 1097w, https://www.sportico.com/wp-content/uploads/2023/05/Senators-Card.jpg?resize=300,151 300w, https://www.sportico.com/wp-content/uploads/2023/05/Senators-Card.jpg?resize=1024,515 1024w" data-lazy-sizes="(min-width: 100rem) 1600px, (min-width: 90rem) 1440px, (min-width: 87.5rem) 1000px, (min-width: 78.75rem) 681px, (min-width: 48rem) 450px, (max-width: 48rem) 250px" height="515" width="1024" decoding=""> </div> </div> </figure> </div> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Nonetheless, bidding for the club was robust. Nine different groups <a rel="noreferrer noopener" href="https://www.sportico.com/business/team-sales/2023/senators-ryan-reynolds-bids-nhl-1234722756/" target="_blank" >submitted</a> offers ahead of the first March deadline, including one from actor Ryan Reynolds and real estate developer Remington Group. Four groups <a rel="noreferrer noopener" href="https://www.sportico.com/business/team-sales/2023/ottawa-senators-sale-1234722937/" target="_blank" >made</a> follow-up bids ahead of the final deadline; along with Andlauer, those included former Pittsburgh Penguins minority owners Jeffrey and Michael Kimel, Canadian billionaire Steve Apostolopoulos, and film producer Neko Sparks, whose group also included Snoop Dogg.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Andlauer is a minority owner in the NHL’s Montreal Canadiens and the owner/chairman of the OHL’s Hamilton Bulldogs (he previously owned an AHL team with the same name, but sold it to the Canadiens in 2015 and then bought an OHL club that he renamed and moved to Hamilton). He was born in France and raised in Canada, and is now the president and CEO of Andlauer Management Group, which oversees a number of transportation and logistics companies.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> The Senators are the first Canadian hockey team to hit the market since the Toronto Maple Leafs in 2012, and one of the new owner’s biggest early priorities will be a new arena location. The Senators currently play at the Canadian Tire Centre, an arena about 16 miles (26 kilometers) from the capital city’s downtown center. Many believe the location has limited the team’s attendance; the team averaged <a rel="noreferrer noopener nofollow" href="https://www.hockey-reference.com/friv/attendance.cgi" target="_blank" >16,757 fans</a> at home this season, which ranked 25th in the league. The Senators also haven’t made the playoffs since 2017. <div class="admz " id="adm-inline-article-ad-2"> <div class="adma boomerang " data-device="Desktop" data-width="300"> <div style="min-width:300px;min-height:275px;" class="pmc-adm-boomerang-pub-div ad-text" data-priority="10" > <div id="gpt-sprt-dsk-tab-mid-article2-uid1" class=" adw-300 adh-250" data-is-adhesion-ad=""> <script type="application/javascript"> blogherads.adq.push(function () { blogherads .defineSlot( 'medrec', 'gpt-sprt-dsk-tab-mid-article2-uid1' ) .setTargeting( 'pos', ["mid-article2","mid-articleX","mid","btf"] ) .setTargeting( 'viewable', 'yes' ) .setSubAdUnitPath("ros\/mid-article2") .addSize([[300,250],[620,366]]) .setClsOptimization("minsize") ; }); </script> </div> </div> </div> </div> </p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> In June 2022, the Senators <a rel="noreferrer noopener nofollow" href="https://www.cbc.ca/news/canada/ottawa/ottawa-senators-sale-arena-lebreton-melnyk-1.6638209" target="_blank" >signed</a> a memorandum of understanding for a new downtown arena at the LeBreton Flats site. And while a new arena would obviously add to the costs associated with owning the team, many incoming buyers <a rel="noreferrer noopener" href="https://www.sportico.com/business/team-sales/2023/senators-ryan-reynolds-bids-nhl-1234722756/" target="_blank" >are attracted</a> to the proposition of being able to plan, design and control a new venue (a similar dynamic exists in <a rel="noreferrer noopener" href="https://www.sportico.com/business/team-sales/2023/washington-commanders-sale-josh-harris-dan-snyder-1234722547/" target="_blank" >the sale</a> of the NFL’s Washington Commanders).</p> <div class="post-content-image // "> <figure class="o-figure size-full alignnone lrv-u-max-width-100p" style="width:100%; max-width:811px;"> <div class="c-lazy-image "> <div class="lrv-a-crop-16x9" style="padding-bottom:calc((817/811)*100%);"> <img decoding="async" class="c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto" src="https://www.sportico.com/wp-content/themes/vip/pmc-sportico-2020/assets/public/lazyload-fallback.gif" data-lazy-src="https://www.sportico.com/wp-content/uploads/2023/06/Screenshot-2023-06-13-133848.png?w=298" alt="" data-lazy-srcset="https://www.sportico.com/wp-content/uploads/2023/06/Screenshot-2023-06-13-133848.png 811w, https://www.sportico.com/wp-content/uploads/2023/06/Screenshot-2023-06-13-133848.png?resize=150,150 150w, https://www.sportico.com/wp-content/uploads/2023/06/Screenshot-2023-06-13-133848.png?resize=298,300 298w" data-lazy-sizes="(min-width: 100rem) 1600px, (min-width: 90rem) 1440px, (min-width: 87.5rem) 1000px, (min-width: 78.75rem) 681px, (min-width: 48rem) 450px, (max-width: 48rem) 250px" height="817" width="811" decoding=""> </div> </div> </figure> </div> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Other recent NHL sales include Fenway Sports Group’s 2021 acquisition of the Pittsburgh Penguins for about $900 million, and former Tennessee governor Bill Haslam’s recent purchase of the Nashville Predators, a deal that includes tiered payments that began at a <a rel="noreferrer noopener" href="https://www.sportico.com/leagues/hockey/2022/nashville-predators-valued-775-million-sale-haslam-1234692987/" target="_blank" >$725 million</a> valuation and will eventually jump to more than $1 billion.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> (This story has been updated with Andlauer’s statement released by the Senators.)</p> <div id="piano-related-story"></div></div> </div> <div class="article-tags // lrv-u-font-family-primary u-letter-spacing-012 lrv-u-margin-t-2"> <nav class="o-nav lrv-u-flex lrv-u-flex-direction-column lrv-u-align-items-center u-text-transform-lowercase"> <h4 id="" class="o-nav__title lrv-u-text-transform-uppercase lrv-u-font-weight-bold lrv-u-line-height-large ">Read More About:</h4> <ul class="o-nav__list lrv-a-unstyle-list a-children-icon a-children-icon-bullet lrv-u-color-brand-primary lrv-u-flex lrv-a-space-children-horizontal lrv-a-space-children--1 lrv-u-align-items-center u-flex-wrap-wrap lrv-u-justify-content-center"> <li class="o-nav__list-item "> <a class="c-link lrv-a-unstyle-link lrv-u-color-grey-dark:hover lrv-a-hover-effect lrv-u-font-weight-bold lrv-u-whitespace-nowrap" href="https://www.sportico.com/t/data-viz/" > data viz</a> </li> <li class="o-nav__list-item "> <a class="c-link lrv-a-unstyle-link lrv-u-color-grey-dark:hover lrv-a-hover-effect lrv-u-font-weight-bold lrv-u-whitespace-nowrap" href="https://www.sportico.com/t/galatioto-sports-partners/" > Galatioto Sports Partners</a> </li> <li class="o-nav__list-item "> <a class="c-link lrv-a-unstyle-link lrv-u-color-grey-dark:hover lrv-a-hover-effect lrv-u-font-weight-bold lrv-u-whitespace-nowrap" href="https://www.sportico.com/t/nhl/" > NHL</a> </li> <li class="o-nav__list-item "> <a class="c-link lrv-a-unstyle-link lrv-u-color-grey-dark:hover lrv-a-hover-effect 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d="M593.6 110.8c0 34.2 28 58 59.7 58 7.9 0 15-.9 21.2-2.8v-36.8c-5.6 3-10.3 5.1-18.6 5.1-12.6 0-24.4-8.8-24.4-23.5s11.8-23.5 24.4-23.5c8.3 0 13.1 2.1 18.6 5.1V55.6c-6.2-1.9-13.3-2.8-21.2-2.8-31.7 0-59.7 23.7-59.7 58"/><path id="Fill-16" class="st0" d="M741.7 135c-12.4 0-21.2-9.6-21.2-24.2s8.8-24.2 21.2-24.2c12.4 0 21.2 9.6 21.2 24.2 0 14.5-8.8 24.2-21.2 24.2m0-82.2c-32.7 0-60.6 24-60.6 58s27.8 58 60.6 58c32.7 0 60.6-24 60.6-58s-27.8-58-60.6-58"/></g></g></g></svg> <span class="lrv-a-screen-reader-only">Sportico</span> </a> </div> <div class="expandable-search // "> <div class="expandable-search__target // lrv-u-width-100p lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop" > <div class="expandable_search__inner " data-header-search-trigger=""> <form class="search-form " action="/" role="search" method="get"> <label class="u-flex-1"> <span class="lrv-a-screen-reader-only">Search for:</span> <input class="lrv-u-width-100p" type="search" placeholder="Search" value="" name="s"> </label> <input class="" type="submit" value="Search"> </form> </div> </div> </div>  <div class="lrv-u-width-100p lrv-u-display-block lrv-u-display-none@desktop lrv-u-border-b-1 lrv-u-padding-tb-2 lrv-u-padding-lr-1 lrv-u-border-color-grey-light u-border-b-0@desktop lrv-a-hidden js-subscription-login-section"> <div id="pmc-piano-mobile-mega-button" class="lrv-u-display-inline-block u-width-150 lrv-u-display-none@desktop"></div> <a class="c-link lrv-a-unstyle-link lrv-u-display-block lrv-a-unstyle-link lrv-u-color-grey-darkest lrv-u-color-grey:hover lrv-u-border-color-grey-darkest a-font-primary-medium-s lrv-u-padding-tb-050 lrv-u-padding-lr-2 lrv-u-border-a-1 lrv-u-max-width-150 lrv-u-text-align-center js-subscription-login-link" href="#" > Log In</a> </div> <div class="lrv-u-width-100p lrv-u-display-block lrv-u-display-none@desktop lrv-u-border-color-grey-light u-border-b-0@desktop lrv-a-hidden js-subscription-account-section"> <div class="lrv-u-width-100p lrv-u-display-block lrv-u-display-none@desktop lrv-u-border-b-1 lrv-u-padding-tb-1 lrv-u-padding-lr-1 lrv-u-border-color-grey-light u-border-b-0@desktop pmc-sportico-loggedin-subscribe-button lrv-a-hidden"> <a class="c-link lrv-a-unstyle-link lrv-u-display-block lrv-a-unstyle-link lrv-u-color-white lrv-u-color-white:hover lrv-u-background-color-brand-primary u-background-color-brand-primary-dark:hover a-font-primary-medium-s lrv-u-padding-tb-050 lrv-u-padding-lr-2 lrv-u-margin-b-075 lrv-u-text-align-center lrv-u-max-width-150 js-subscribe-header-button" href="https://www.sportico.com/subscribe/" > Subscribe</a> </div> <ul class="mega-menu-content // mega-menu__parent-list // lrv-a-unstyle-list lrv-a-grid a-cols3@desktop lrv-u-background-color-black" data-collapsible-group=""> <li class="mega-menu-item // mega-menu__parent-list-item // lrv-js-MobileHeightToggle lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop" data-collapsible="collapsed"> <div class="lrv-u-flex 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u-display-inline-flex lrv-u-justify-content-center lrv-u-align-items-center lrv-u-flex-shrink-0 lrv-u-border-a-0 a-become-close-button a-become-close-button--trigger a-hidden@desktop-max u-height-50 u-width-50"> <span class="lrv-a-screen-reader-only">Close the menu</span> </button> </div>  <ul class="mega-menu-content // mega-menu__parent-list // lrv-a-unstyle-list lrv-a-grid a-cols3@desktop lrv-u-background-color-black" data-collapsible-group=""> <li class="mega-menu-item // mega-menu__parent-list-item // lrv-js-MobileHeightToggle lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop" data-collapsible="collapsed"> <div class="lrv-u-flex lrv-u-align-items-center lrv-u-color-white u-border-b-2@desktop lrv-u-border-color-brand-primary"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-32@desktop lrv-u-font-size-20 lrv-u-color-grey-light:hover lrv-u-font-weight-bold u-padding-a-1@desktop-max lrv-u-padding-b-050" href="https://www.sportico.com/c/leagues/" > Leagues</a> <button class="lrv-js-MobileHeightToggle-trigger lrv-a-unstyle-button a-hidden@desktop u-display-inline-flex lrv-u-margin-l-auto lrv-u-padding-a-1" data-collapsible-toggle="always-show"> <span class="a-become-close-button a-become-close-button--toggle "> <span class="lrv-a-screen-reader-only">Expand the sub menu</span> </span> </button> </div> <ul class="mega-menu__child-list // lrv-js-MobileHeightToggle-target lrv-a-unstyle-list u-background-white@desktop-max u-color-white@desktop u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only"> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/leagues/baseball/" > Baseball</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/leagues/basketball/" > Basketball</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/leagues/boxing/" > Boxing</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/leagues/college-sports/" > College Sports</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/leagues/football/" > Football</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/leagues/golf/" > Golf</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/leagues/hockey/" > Hockey</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/leagues/motorsports/" > Motorsports</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/leagues/other-sports/" > Other Sports</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/leagues/soccer/" > Soccer</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/leagues/tennis/" > Tennis</a> </li> </ul> </li> <li class="mega-menu-item // mega-menu__parent-list-item // lrv-js-MobileHeightToggle lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop" data-collapsible="collapsed"> <div class="lrv-u-flex lrv-u-align-items-center lrv-u-color-white u-border-b-2@desktop lrv-u-border-color-brand-primary"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-32@desktop lrv-u-font-size-20 lrv-u-color-grey-light:hover lrv-u-font-weight-bold u-padding-a-1@desktop-max lrv-u-padding-b-050" href="https://www.sportico.com/c/business/" > Business</a> <button class="lrv-js-MobileHeightToggle-trigger lrv-a-unstyle-button a-hidden@desktop u-display-inline-flex lrv-u-margin-l-auto lrv-u-padding-a-1" data-collapsible-toggle="always-show"> <span class="a-become-close-button a-become-close-button--toggle "> <span class="lrv-a-screen-reader-only">Expand the sub menu</span> </span> </button> </div> <ul class="mega-menu__child-list // lrv-js-MobileHeightToggle-target lrv-a-unstyle-list u-background-white@desktop-max u-color-white@desktop u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only"> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/business/commerce/" > Commerce</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/business/finance/" > Finance</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/business/media/" > Media</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/business/real-estate/" > Real Estate</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/business/sales/" > Sales</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/business/sponsorship/" > Sponsorship</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/business/sports/" > Sports</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/business/sports-betting/" > Sports Betting</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover u-padding-a-1@desktop-max lrv-u-padding-tb-025 lrv-u-display-block" href="https://www.sportico.com/c/business/team-sales/" > Team Sales</a> </li> <li class="mega-menu__child-list-item // lrv-u-border-b-1 lrv-u-border-color-grey-light u-border-b-0@desktop"> <a class="c-link lrv-a-unstyle-link lrv-u-font-size-18@desktop lrv-u-color-grey-light:hover 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