Michael Andlauer won the bidding for the Ottawa Senators, reaching agreement to purchase the franchise for nearly $1 billion, according to multiple reports Tuesday
The transaction next goes before the NHL's Board of Governors, to whom Andlauer is familiar. He owns a 10 percent stake in the Montreal Canadiens and is an alternate governor. He also owns the Ontario Hockey League's Brantford Bulldogs.
Andlauer, 57, would divest his stake in the Montreal franchise before being fully approved to take over the Senators. He agreed to terms of the sale, which prohibited moving the team from Ottawa and shared plans for a new arena as part of his bid
His offer edged a joint effort by Jeffrey and Michael Kimel of Harlo Capital to purchase the Senators. The Ottawa Sun reported the bid submitted by Los Angeles-based producer Neko Sparks was "underfunded" and Toronto-based billionaire Steve Apostolopoulos, who dropped out of the bidding
Previous owner Eugene Melnyk purchased the team out of bankruptcy in 2003. He died in March 2022, and his daughters, Anna and Olivia Melnyk, inherited the franchise. In November, a process for the team's sale was initiated. A condition of the sale requires keeping the franchise in Ottawa.
Andlauer is the CEO of the Andlauer Healthcare Group Inc. and also has 35 years of experience in the transportation industry in Canada. He also founded Bulldog Capital partners, a merchant bank based in Toronto.
--Field Level Media