Toronto billionaire Michael Andlauer has agreed to purchase the National Hockey League (NHL) team, the Ottawa Senators. The deal is reportedly worth $800 million and is expected to be finalized in the coming weeks, pending approval from the NHL Board of Governors.
Andlauer, who made his fortune in the logistics and transportation industry, is no stranger to the world of hockey. He is the owner of the Hamilton Bulldogs, a minor league affiliate of the Montreal Canadiens. Andlauer has also served as a member of the board of governors for the AHL, the NHL’s top minor league.
The Ottawa Senators have been in need of new ownership for some time now. The team has struggled on the ice in recent years and has been plagued by financial issues. The current owner, Eugene Melnyk, has been looking to sell the team for several years.
Andlauer’s purchase of the Senators is seen as a positive development for the team and its fans. He has a reputation as a savvy businessman who is committed to investing in his sports teams. Andlauer has already pledged to keep the team in Ottawa and to invest in its future success.
The Senators have a loyal fan base in Ottawa, but they have struggled to compete with other teams in the NHL. Andlauer’s ownership could help to turn things around for the franchise. He has a track record of success with the Hamilton Bulldogs, who have won two AHL championships under his ownership.
The NHL has seen a number of high-profile ownership changes in recent years. In 2019, billionaire David Tepper purchased the Carolina Hurricanes for $420 million. In 2020, hedge fund manager Steve Cohen purchased the New York Mets for $2.4 billion. Andlauer’s purchase of the Senators is just the latest example of wealthy individuals investing in professional sports teams.
Overall, Andlauer’s purchase of the Ottawa Senators is good news for hockey fans in Ottawa and across Canada. The team has struggled in recent years, but Andlauer’s ownership could help to turn things around. With his track record of success in the AHL and his commitment to investing in his sports teams, Andlauer is poised to be a strong owner for the Senators.
