• Loading stock data...
Tuesday, December 10, 2024
Tune in on Dec. 11 at 1:05 p.m. ET for our last Future of Sports virtual summit of the year – Future of Sports: Marketing! Register Now

Ottawa Senators Sale Hits Speed Bump

  • Galatioto Sports Partners reportedly won’t be ready to open the due diligence website for likely two more weeks.
  • The website is where potential buyers can look at the club’s financials.
Ottawa-Senators
Marc DesRosiers-USA TODAY Sports

It may be a while before the Ottawa Senators have a new owner.

Galatioto Sports Partners won’t be ready to open the due diligence website — where potential buyers can look at the club’s financials — for likely two more weeks, according to the Ottawa Sun.

The NHL was initially hoping to know the potential new owner by mid-January but reportedly wants to make sure everyone is vetted prior to the website’s launch. 

  • Potential bidders will have access to financials, including revenue from corporate deals and ticket sales.
  • They will be able to see the debt the current owner’s estate is holding against the club.
  • The team’s memorandum of understanding will also be available. 

Last month, NHL commissioner Gary Bettman said more than a dozen parties were interested in looking at the books.

Forbes valued the Senators at $800 million in December, a 52% year-over-year increase.

Sale Sign

The team’s late owner Eugene Melnyk purchased the team for $92 million in 2003 to save it from bankruptcy. He died in March, leaving the team to his daughters, Anna and Olivia, who are both younger than 25.

The team was put up for sale in November. 

The Ottawa Sun reported the new owner may not be known before March. It was reported in November that Ryan Reynolds is “very interested” in buying the team.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sep 13, 2024; Bolingbrook, Illinois, USA; (Editors Notes: Caption Correction) Bryson DeChambeau of the Crushers GC and Brooks Koepka of the Smash GC shake hands after the first round of the LIV Golf Chicago tournament at Bolingbrook Golf Club.

DeChambeau, Koepka Hope Showdown Helps Unite LIV–PGA Tour

The golfers will compete against Rory McIlroy and Scottie Scheffler.

More to A’s Offseason Spending Plans Than Meets the Eye

Revenue-sharing guidelines are helping fuel the increased spending.
Dec 7, 2024; Washington, District of Columbia, USA; Washington Wizards guard Jordan Poole (13) reacts after the final horn against the Denver Nuggets at Capital One Arena.

Capitals, Wizards Owner Monumental Aims to Drive ‘Downtown D.C.’s Comeback’

Monumental Sports, which owns the Wizards, is ready to anchor a D.C. comeback.

As Wizards Hit Historic Low, Leonsis Calls Season ‘Very Productive’

They’re on pace for one of the worst records in NBA history.

Featured Today

Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
Joe Tsai

NFL Owners Set to Vote on Dolphins, Bills Stakes for Tsai, Carter,..

The deals are likely to be approved at the owners meetings in Dallas.
December 9, 2024

McLaren F1 Team Nearly Folded in 2020. An American Exec Just Led..

An investment from MSP Sports Capital in 2020 saved McLaren.
December 9, 2024

Have Mets Upended New York’s Baseball Hierarchy With Soto Deal?

The National League team sheds its image as an often-lovable underdog.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Old Commanders logo
December 6, 2024

Commanders Plan to Bring Back Old Logo on Special Alumni Merchandise

The Commanders are bringing back their old logo in limited fashion.
Soccer
December 6, 2024

U.S. Buyers Snap Up Yet Another English Soccer Club in Sheffield United

The recently relegated club has agreed to sell to new owners.
December 3, 2024

As LeBron James Struggles, Lakers—and NBA—Face Murky Future

In October, James had said he wanted to play all 82 games.
Dec 1, 2024; Houston, Texas, USA; Houston Rockets guard Fred VanVleet (5) celebrates with center Alperen Sengun (28) after scoring during the second quarter against the Oklahoma City Thunder at Toyota Center.
December 2, 2024

Rockets Look Like Contenders, but Payroll Questions Loom

Houston is a half-game out of first in the Western Conference.