After weeks of speculation and rumours of celebrity involvement, the Ottawa Senators finally have a new owner.
On Tuesday, the Senators organization officially announced that Canadian billionaire Michael Andlauer entered into an agreement to purchase the team.
The deal is said to be valued at nearly $1 billion, Sportico reported.
News Release: Senators Sports & Entertainment announces that Michael Andlauer has entered into an agreement to purchase the Ottawa Senators Hockey Club: https://t.co/SsvqkXUipK pic.twitter.com/XrIkECwHkv
— Ottawa Senators (@Senators) June 13, 2023
“My family and I are very excited to be a part of the Ottawa Senators Hockey Club,” Andlauer said in a statement. “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.”
While he’s not Ryan Reynolds or Snoop Dogg, Canadian hockey fans might still recognize Andlauer’s name. In 2009, he purchased a share of the Montreal Canadiens, the Bell Centre and Gillett Entertainment Group (now evenko) as part of a group headed by Geoff Molson. Andlauer has served as alternate governor for the Canadiens since the purchase.
Having been involved with the Hamilton Bulldogs of the American Hockey League (AHL) since 2003, both as a team co-owner and majority owner in 2004, Andlauer has a long history of hockey involvement. The Bulldogs won the Calder Cup under his reign in 2007.
Andlauer eventually sold the team to the Habs in 2015 and purchased the Ontario Hockey League’s (OHL) Belleville Bulls and relocated the team to Hamilton, where they won both the 2018 and 2022 OHL Championship.
Now, the Toronto native is jumping ship to another Atlantic Division team, and taking on a much larger role in the process.
According to a news release, Andlauer will soon have operational control, along with 90% of the Ottawa Senators Hockey Club. Anna and Olivia Melnyk, through the Melnyk Estate, will retain a 10% interest in the club.
The Athletic reported that the 57-year-old still owns a 10% minority stake in the Montreal Canadiens, which he will have to sell as the owner of the Senators.