REPORT: Ottawa Senators Sold For Nearly $1 Billion To Michael Andlauer

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Andrew Powell Contributor
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Dang! I was hoping Snoop Dogg was gonna pull it off.

The Ottawa Senators are being sold for nearly $1 billion to entrepreneur Michael Andlauer, according to Postmedia’s Bruce Garrioch.

Andlauer’s group is purchasing the NHL franchise from the estate of Eugene Melnyk, who passed away in March 2022. Melnyk — a pharmaceuticals billionaire — bought the team out of bankruptcy 20 years ago for just $92 million. Last fall, the Melnyk family then explored a potential sale after retaining Galatioto Sports Partners (GSP). The deal with Andlauer still needs to be approved by the league.

The Senators were valued at $655 million by Sportico in 2022, which is 27th in a 32-team National Hockey League. For six consecutive seasons, Ottawa has missed the postseason, and they currently generate the league’s third-least revenue and lose money on a consistent basis.

Funny story for you:

It was actually a colleague of mine who sent this to me and made me aware of the news, and I was instantly bummed out because Snoop Dogg, who was involved in a rival bid to purchase the Senators, didn’t end up buying the team. And that’s exactly why she sent it to me, because she knew I’d get bummed out!

Ahh! I mean, seriously, how cool would it have been to see Snoop Dogg out of all people own a hockey team? (RELATED: Wayne Gretzky’s Final NHL Point Jersey Sells For Incredible $715,120)

I would’ve totally been game for something like that.