Senators Reported To Have Hired New York Bank To Explore Potential Sale

Ottawa Senators for Sale

Summary

  • New York Bank hired by Ottawa Senators due to potential sale
  • Ottawa Senators currently have an estimated value of US$655 million
  • Potential bids are expected to come in during the next few weeks

NHL betting fans of the Ottawa Senators were caught by surprise this week as reports have surfaced that the Senators have hired a bank in New York to facilitate a potential sale.

The Senators lost their owner Eugene Melnyk in March 2022 after he passed away fighting an illness and the franchise was taken over by his daugthers Olivia and Anna Melnyk.

Ottawa Senators Currently Valued At US$655M 

Just a little over 6 months since Olivia and Anna Melnyk took over the Senators, it appears that they prefer to sell the franchise and move on. A three member board of directors currently runs the Ottawa Senators and it shouldn’t be difficult to get approval and facilitate a smooth sale.

Unofficial reports confirmed that Galatioti Sports Partners has been hired to facilitate the sale of the Ottawa Senators. Galatioti is a New York bank that specializes in providing advisory services to major sports franchises and organizations. The bank’s website claims that they have assisted in completing over 100 sports related transactions in North America and international markets.

The Senators are estimated to be worth US$655 million based on a financial estimation carried out by Sportico in 2022. The Senators have seen their overall value jump by 21 percent in the last 12 months which is the highest jump by any franchise in the NHL. There is no indication as of now as to how much the Senators would sell for as of now.

When the Ottawa Senators were asked to confirm that discussions were on over a potential sale, they refused to confirm or deny the reports.

Multiple Investors Interested In Ottawa Senators

There should be no shortage of interest from investors who are keen on buying the Ottawa Senators. The Pittsburgh Penguins was sold for a whopping US$900 million in 2021 while the Nashville Predators are expected to sell for US$77 million.

This is a great time for the owners to sell the Ottawa Senators because the National Capital Commission and the Senators reached an agreement in June 2022 to develop a new arena for the team, west of Ottawa, Ontario at LeBreton Flats. The Senator’s value goes up a lot higher with a new stadium being allotted to them.

Potential bidders are expected to send in their bids as we get towards the end of 2022. Will new owners help improve the Senators chances of the Stanley Cup? All the latest odds right here as the speculation mounts.

Author Milica is a keen sports enthusiast , she often contributes to betting.ca as well as other sites. Milica enjoys betting on varies events such as sports and others.