• Loading stock data...
Tuesday, November 5, 2024
The Best Employers in Sports survey is open through Nov. 6 Learn More

Ottawa Senators Sale Down to Three Groups

  • Four groups submitted bids ahead of Monday’s deadline to acquire the Senators.
  • The franchise is expected to sell for around $1B, an NHL record.
Four groups submitted bids for Ottawa's NHL franchise ahead of Monday's deadline.
Marc DesRosiers-USA TODAY Sports

The Ottawa Senators’ sale process has been pared down to three groups heading into the weekend, two sources with knowledge of the review process told Front Office Sports .

FOS originally reported Friday that only “a couple” of the four ownership groups remained in the mix. But two sources later said the true number was three.

A decision is expected to come down next week.

It wasn’t unclear which of the four groups remained in the mix. The Senators are expected to fetch about $1 billion

Four groups submitted bids ahead of Monday’s final deadline, including: 

  • Billionaire Montreal Canadiens minority owner and healthcare group founder Michael Andlaue
  • Toronto businessman Steve Apostolopoulos, who was also part of the Washington Commanders’ bidding before Josh Harris secured a final agreement 
  • Former Pittsburgh Penguins minority owners and entrepreneurs Jeffrey and Michael Kimel
  • Los Angeles-based businessman Neko Sparks, whose group that already counted rapper Snoop Dogg and apparently added Canadian Olympic gold medal-winning sprinter Donovan Bailey

The Senators went on the market in November, months after the death of Eugene Melnyk. Melnyk purchased the Sens for $92 million in 2003. 

Galatioto Sports Partners is handling the sale on behalf of the Melnyk family. A message left with GSP by FOS on Friday was not immediately returned. 

Galatioto Sports Partners is handling the sale on behalf of the Melnyk family. Patriarch Eugene Melnyk, who purchased the Sens for $92 million in 2003, died in March 2022.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Lululemon-Fanatics Collab With NHL Sees ‘Explosive’ First-Day Sales

The premium collection made up 80% of all NHL merch sales.
Jul 7, 2021; Tampa, Florida, USA; Tampa Bay Lightning owner Jeff Vinik hoists the Stanley Cup after the Lightning defeated the Montreal Canadiens 1-0 in game five to win the 2021 Stanley Cup Final at Amalie Arena.

Lightning Sell at $1.8B Valuation, Nearly Double Prior NHL Record

The Lightning unveiled a multistep and multiyear sale process.
Chicago Bulls owner Jerry Reinsdorf

Chicago’s RSN Standoff Has No End in Sight As NBA Season Begins

The Bulls still don’t have a Comcast carriage deal on opening night.
Oct 19, 2024; Dallas, Texas, USA; Dallas Stars center Matt Duchene (95) celebrates after scoring a goal against the Edmonton Oilers in the second period at American Airlines Center.

ESPN’s All-Night NHL Blitz Navigates Tricky Programming Window

Is the all-night NHL blitz squeezed into the right TV slot?
podcast thumbnail mobile
Front Office Sports Today

NFL Teams Face Crossroads at Season’s Halfway Point

0:00

Featured Today

NFL Center Connor McGovern Is the Heir to a Potato Empire

The NFL vet’s family provides potatoes for McDonald’s, Wendy’s, and others.
Vanderbilt Commodores fans head to the south end zone as the goal post is taken down by exuberant fans after beating No. 1 Alabama 40-35 at Vanderbilt Stadium in Nashville, Tenn., Saturday, Oct. 5, 2024.
opinion
November 2, 2024

Something New in College Football This Year: Parity

Upsets, surprises. CFB is more fun on the field than the NFL.
Sep 28, 2024; Tuscaloosa, Alabama, USA; GOP Presidential candidate Donald Trump waves flanked by former Georgia Bulldogs player Herschel Walker, recording art Kid Rock, professional golfer John Daily, Alabama senators Tommy Tuberville (R) and Katie Britt (R) during the second half of the game between the Alabama Crimson Tide and the Georgia Bulldogs at Bryant-Denny Stadium.
November 1, 2024

Mission Swing State: College Football’s Political Advertising Battle

Trump, Harris, and the PACs that support them are utilizing the sport.
October 31, 2024

The Untapped Revenue ‘Powder Keg’ of Women’s NFL Fandom

There’s a “boatload” of money at stake for brands and the league.
Oct 27, 2024; Seattle, Washington, USA; Buffalo Bills quarterback Josh Allen (17) passes against the Seattle Seahawks during the second quarter at Lumen Field.

Buffalo Bills in Talks to Sell Stake to PE Firm Arctos: Report

Arctos already has a slice of Paris Saint-Germain and the PGA Tour, among other assets.
Young fans look over Michigan State sports equipment on display during the Spring Showcase on Saturday, April 20, 2024, at Spartan Stadium in East Lansing.
October 2, 2024

Private Equity Firms Buy Rival Hockey Brands CCM and Bauer

Both brands have been around for decades and changed ownership in the same week.
May 24, 2024; Minneapolis, Minnesota, USA; Dallas Mavericks owner Mark Cuban celebrates after defeating the Minnesota Timberwolves in game two of the western conference finals for the 2024 NBA playoffs at Target Center.
October 9, 2024

Why Mark Cuban Sold the Dallas Mavericks When He Did

Cuban sold his majority stake to the Adelson family in December 2023.
Sponsored

World Series Delivers High-Demand Marquee Matchup

The hype around the World Series matchup drove ticket prices to record levels—but the Dodgers’ dominance quickly quieted the fervor.
September 18, 2024

Rogers Tightens Grip on Canadian Sports With $3.46B MLSE Stake

The Blue Jays owner makes a big move to corner most of the Toronto pro sports market.
Fans watch TV screens during a game viewing party for fans at the FanDuel Sportsbook at Meadowlands Racing & Entertainment in East Rutherford, New Jersey.
September 18, 2024

FanDuel Parent Buys Italian Gambling Company in Bid for Growth

Flutter is making big moves in Italy and Brazil.
September 12, 2024

Team USA’s Uniform Maker Is Shooting for a Long-Term Win

This week’s uniforms are honoring the Armed Forces.
September 5, 2024

Amazon Nears Game-Changing Deal to Stream Bally Sports Content

The online retail and streaming giant nears a long-expected deal to stream most of Diamond Sports Group’s content.