Ottawa Senators Could Be Purchased by Toronto Based Investors

Eugene Melnyk's two daughters, Anna and Olivia Melnyk will be keeping a piece of the team ownership out of respect to their father.

New York-based sports banker Galatioti Sports Partners officially begin speaking to potential Senators' suitors, a league executive told this newspaper 'there will be multiple groups' making a pitch.

The prospective sale could amount in the range of $700 million and $1 billion!

Jeffrey and Michael Kimel, who formerly owned a minority piece of the Pittsburgh Penguins before they sold to the Fenway Sports Group last year, have already expressed an interest in purchasing the Senators and being part of the LeBreton Flats project.

The Kimel family has the financial clout to make a deal and the knowledge needed to help build LeBreton but they're hardly alone on that front.

Toronto billionaire Michael Andlauer who owns the OHL Hamilton Bulldogs and has a 20 percent stake in the Montreal Canadiens is also respected highly by NHL Commissioner Gary Bettman and deputy commissioner Bill Daly.

As the owner of the Andlauer Group, which owns transport and logistics companies in Canada, he may have kicked the tires on the Ottawa franchise in the past.

Another candidate to purchase the team just arose too. It seems Deadpool actor Ryan Reynolds, 46 is also interested in buying the team. His interest is mainly to keep the team in Ottawa.

https://people.com/sports/ryan-reynolds-interested-in-buying-ottawa-senators-nhl-team/

Bettman wants to keep this team in Ottawa, especially with the potential for a downtown arena on the horizon.

So, what's the timeline on all of this?

The clock is ticking on a 15-month window to get a lease in place at LeBreton Flats. Even if the Melnyk family wanted to hang onto the ownership of the franchise, they would need a partner to help them finance the new rink located 10 minutes west of downtown.

It appears that when news of the impending sale of the team broke, there were rumors of relocation. A new owner group could very well decide to move the team elsewhere.

That doesn't appear to be happening here, so the Sens don't need to worry about packing up and finding new homes and all.

Bettman has lots of pull with things like this, so if he says the team stays in Ottawa, it stays.