• Loading stock data...
Sunday, June 1, 2025
exclusive
Deals

Senators Bidding Could Reach Record $1B

  • Bidding for the Ottawa Senators has exceeded expectations ahead of a May 15 deadline.
  • Ottawa was anticipated to sell for $800M when team went on the market in November.
Senators
Marc DesRosiers-USA TODAY Sports

When the Ottawa Senators are sold, the final price is expected to set an NHL record.

The Senators were anticipated to fetch around $800 million when they hit the market in November, but sources told Front Office Sports that bidding so far has already eclipsed that mark — and could even hit $1 billion. 

More than a dozen groups have shown serious interest in the team, although one source said that list is down to around six groups. The Remington Group — which includes Canadian actor and Wrexham AFC co-owner Ryan Reynolds — is among the finalists. 

The Ottawa Sun was the first outlet to report over the weekend that the final bid deadline was set for May 15, giving the groups time to sweeten and solidify their proposals. 

The current top sale price for an NHL franchise is the $900 million Fenway Sports Group paid for the Pittsburgh Penguins in 2021. Former Tennessee Gov. Bill Haslam’s $880 million purchase of the Nashville Predators is expected to be approved by the league’s owners next month. 

Eugene Melnyk purchased the Sens for $92 million in 2003. After he died in March 2022 at 62, his estate tapped New York-based sports investment firm Galatioto Sports Partners to handle the sale. 

NHL commissioner Gary Bettman told bidders not to expect public money — either from Ontario or Ottawa — to build a new arena in downtown Ottawa, a source told FOS. Bettman also told the prospective owners the Sens would not be allowed to relocate. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

exclusive

Newly American-Owned Italian Hoops Team Hires Ex-Pelicans Exec as GM

Napoli Basketball is hiring the Pelicans’ former chief of staff as GM.

PSG and the City of Paris Can Join European Soccer’s Elite

What a maiden Champions League title would mean for the French club.

Panthers-Oilers Rematch Could Be Big in Canada. Will U.S. Ratings Dip?

Likely viewership declines in the U.S. are countered by robust Canadian audiences.

How the Champions League Anthem Took on a Life of Its Own

The composer didn’t know he wrote a timeless hit three decades ago.

Featured Today

How Rolex Paved the Way for Luxury’s Love Affair With Tennis

“It’s almost impossible to think about tennis without thinking about Rolex.”
Mar 23, 2025; Miami, FL, USA; Alexandra Eala (PHI) reacts after winning a point against Madison Keys (USA)(not pictured) on day six of the Miami Open at Hard Rock Stadium.
May 24, 2025

Alex Eala Is Defying Her Country’s Odds to Make French Open History

The Philippines native has overcome a unique set of financial odds.
May 24, 2025

Indiana Is the Center of the Basketball Universe—Thanks to Both Pro Teams

The Fever and Pacers are thriving at the same time.
Around the Horn - October 26, 2020
May 23, 2025

‘Quirky, Nutty, Bombastic’: 10 ‘Around the Horn’ Faces on Their Top Moments

“A quirky, nutty, bombastic, mostly wrong, sometimes right, crazy sports family.”

Max Verstappen Linked to $300M Aston Martin Deal Ahead of Miami GP

Aston Martin is currently seventh in the constructors championship.
March 20, 2025

High School Sports Power Signs Eight-Figure Rights Deal in First

The deal pays roughly $1 million annually, FOS has learned.
March 27, 2025

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

In Episode 7 of Portfolio Players, go inside the boardroom with Avenue Capital CEO and former Milwaukee Bucks co-owner Marc Lasry on Giannis’s future, women’s sports, and upstart leagues like TGL and Unrivaled. 
March 20, 2025

Maxx Crosby’s Agent: Edge Rushers Set to Dominate NFL’s Non-QB Market

Maxx Crosby just signed a three-year, $106.5 million extension.
March 4, 2025

Eagles Make Saquon Barkley NFL’s Highest-Paid Running Back Ever

Barkley is coming off a historic 2024 season with the Eagles.
February 18, 2025

Tiger Woods Signs First PGA Tour Player to Wear Sun Day Red

Karl Vilips will wear Sun Day Red at his season debut at the Mexico Open.
Teammates embrace during matchup in The Hundred cricket league
February 15, 2025

Google, Microsoft, Adobe CEOs Buy Stakes in Cricket League

The England and Wales Cricket Board raised £520m by selling team stakes.