NHL Commish Announces Senators Sale Will Be Finalized Shortly

Summary

• Four bidders have submitted their proposals to buy the Ottawa Senators
• Galatioto Sports Partners are currently reviewing and shortlisting proposals
• NHL Commissioner confirms a decision will be made shortly

The Ottawa Senators announced in Nov 2022 that the franchise would be up for sale. The decision was made after owner Eugene Melnyk passed away and his family decided that it was in the best interests of everyone to put the club up for sale.

Galatioto Sports Partners (GSP) was hired to facilitate the sale process and there’s been a lot of media coverage regarding the potential sale of the Senators but nothing has been finalized in the last 6 months.

NHL Commissioner Provides Update 

Ottawa Senators fans have been anxious to know what is happening with their NHL team as there’s a lot of speculation in the media about a potential owner with many celebrities including Ryan Reynolds and Snoop Dogg expressing interesting in owning a part of the Senators.

Gary Bettman, NHL Commissioner provided fans with an update during the opening game of the Stanley Cup when he confirmed that the sale process was going as per plan. Bettman said that GSP received four proposals and is currently in the processing of reviewing and shortlisting a potential owner.

When asked as to why the sale process was taking so long, Bettman clarified that the bid to acquire the Senators was not a simple as buying a new car. It is not every day that an NHL franchise is up for sale and the potential value of the Senators is estimated to be around $1 billion.

Bettman clarified that GSP will take their time to carry out due diligence in vetting the proposals before confirming who will be the new owners of the Ottawa Senators. Bettman said that the sale process was on track as of now and that GSP should make a decision in the next few weeks.

Who Will End Up Owning The Ottawa Senators?

Three of the proposals have come in from those in the Toronto area. Jeffrey and Michael Kimel who used to have ties to the Pittsburgh Penguins, Michael Andlauer who owns a part of the Montreal Canadiens and Steve Apostolopoulos who recently submitted a $6 billion bid to buy the Washington Commanders in the NFL but was unsuccessful. 

The fourth bid comes from entrepreneur Neko Sparks who has partnered with a range of celebrities including Snoop Dogg and Canadian stand-up comedian Russell Peters.