By Canadian Press

Reports: Andlauer group buys Senators for close to $1 billion

Jun 13, 2023 | 6:34 AM

OTTAWA — A group led by Toronto-based businessman Michael Andlauer has reached an agreement in principle to purchase the NHL’s Ottawa Senators for close to US$1 billion, according to media reports.

Andlauer is the sole owner of the Ontario Hockey League’s Hamilton Bulldogs and a minority owner of the Montreal Canadiens.

The 57-year-old is also the founder and chief executive officer of Andlauer Healthcare Group, which owns health-care supply chain companies, and the founder of Toronto-based merchant bank Bulldog Capital Partners.

Sportico and the Ottawa Sun first reported the sale.

The board of directors of Senators Sports & Entertainment initiated the process to sell the team last November after the death of owner Eugene Melnyk earlier that year.

roster shakeup

Nanaimo Clippers lose two major players to Major Junior ranks

3h ago

armed robbery

Knife-wielding man robs south Nanaimo liquor store

11h ago

Shorthanded

Clippers fall short hosting Bulldogs

18h ago

Melnyk left the franchise to his daughters, Anna and Olivia.

A recent valuation by Forbes listed the Senators at $800 million, 24th out of the NHL’s 32 teams.

This report by The Canadian Press was first published June 13, 2023.

The Canadian Press