Ottawa Senators to be Sold to Michael Andlauer for Nearly $1 Billion

Michael Andlauer will be the new owner of the Ottawa Senators. 

The team announced on Tuesday morning that Andlauer had reached an agreement to buy 90 percent of the team, well the Melnyk family will retain 10 percent interest. 

According to Sportico, the sale is around $1 billion. 

Andlauer is acquiring the team from the estate of Eugene Melnyk, who died in March 2022. Melnyk had acquired the team out of bankruptcy two decades ago for $92 million. The Melnyk family retained Galatioto Sports Partners (GSP) to explore a possible sale. The deal is still subject to league approval.

Andlauer released the following statement after the purchase was announced. 

"My family and I are very excited to be a part of the Ottawa Senators Hockey Club. 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.

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.

First and foremost, thank you to my wife and family for their support. Thank you to both the NHL and the Melnyk family for providing me with the opportunity to make this dream a reality. Thank you also to my equity partners on the transaction, who like me are committed to bringing success to the National Capital Region. I would also like to thank my financial advisors at Bulldog Capital Partners."

Andlauer is currently a part-owner of the Montreal Canadiens and the owner of the OHL’s Brantford Bulldogs. He will have to sell his remaining stake in the Canadiens before the sale can be finalized.