Toronto billionaire Michael Andlauer has entered into an agreement to purchase 90%of the Ottawa Senators, the team announced Tuesday, while Anna and Olivia Melnyk will retain a 10% interest. According to Bruce Garrioch of the Ottawa Sun, the Senators will be sold for a price of $950 million.
The deal is subject to approval from the NHL along with the finalization of the sale process.
"My family and I are very excited to be a part of the Ottawa Senators Hockey Club," Andlauer said in a statement. "I believe that the Senators' fanbase is one of the most passionate in the league and I'm excited to take the franchise's success both on and off the ice to the next level.
"The short and long-term future of the team is incredibly bright, and I look forward to getting to know the team, the fanbase and the community."
The Senators were originally put up for sale in November 2022 after the team's owner Eugene Melnyk died in March 2022. Melnyk had owned the team for almost 20 years at the time of his death.
Andlauer has been involved with the sport of hockey for multiple decades. The businessman has been connected to the American Hockey League's Hamilton Bulldogs since 2003, where he first served as a co-owner before becoming the franchise's majority owner in 2004. During the 2006-07 season, the Bulldogs won the Calder Cup as league champions.
In March 2015, Andlauer sold Hamilton to the Montreal Canadiens and purchased the Ontario Hockey League's Belleville Bulls. He then relocated the Bulls to Hamilton, where they won the OHL Championship in 2018 and 2022.
In addition, Andlauer purchased a share of the Canadiens in 2009 and has served as the team's alternate governor since that purchase.
Andlauer also has 35 years of experience in the transportation and logistics industry and is currently the CEO of Andlauer Healthcare Group Inc. He also founded Bulldog Capital Partners Inc., which is a Toronto-based merchant bank that focus on private equity investments.
