Senators Confirm Conditional Sale + What a True Selling Price Could Look Like, and Potential Buyers
The rumor mill has been working overtime since whispers arose that the Ottawa Senators were up for sale; it practically exploded when it came out that Canadian superstar Ryan Reynolds was 'very' interested in owning the team.
Today, the Senators released a communique confirming that the team has begun the process to sell. The club also confirmed that they have retained Galatioto Sports Partners to assist with the sale, and they did list one specific condition for any prospective buyers; that the team remains in Ottawa:
Statement from Sheldon Plener, chairman and governor of the Ottawa Senators:
"Galatioto Sports Partners has been retained as financial advisor and a process has been initiated for the sale of the Ottawa Senators Hockey Club. This was a necessary and prudent step to connect with those deeply interested parties who can show us what their vision is for the future of the team. A condition of any sale will be that the team remains in Ottawa. The organization will have no further comment on thisprocess at this time."
"Galatioto Sports Partners has been retained as financial advisor and a process has been initiated for the sale of the Ottawa Senators Hockey Club. This was a necessary and prudent step to connect with those deeply interested parties who can show us what their vision is for the future of the team. A condition of any sale will be that the team remains in Ottawa. The organization will have no further comment on thisprocess at this time."
The recent Sportico report, ranking valuations of all 32 NHL clubs, placed the total value of the Senators upwards of $700 million. Although, Elliotte Friedman - in the latest 32 Thoughts - suggests that number could end up going higher, given the arrangements for a new downtown arena, the direction of the team, and according to Friedman a number of lawsuits being finalized. In Layman's, all signs point upwards.
Reynolds is only one of a list of potential bidders. Friedman also reports that Jeff York - brother of retired NHLer Jason - could be involved, as well as the Kimel Family. The Kimel's are a Toronto-based family who, until recently, were owners of the Pittsburgh Penguins; they were bought out of their stake following the sale to Fenway Sports Group.
The Senators are expected to have a bevy of prospective buyers, so a sale should not take too long. Something tells me the Sens' stock is about to soar.
| POLL | ||
NOVEMBRE 4 | 231 ANSWERS Senators Confirm Conditional Sale + What a True Selling Price Could Look Like, and Potential Buyers The Ottawa Senators will sell for: | ||
| $700 million | 54 | 23.4 % |
| $800 million - $1 billion | 75 | 32.5 % |
| $1 billion+ | 45 | 19.5 % |
| Under $700 million | 57 | 24.7 % |
| LIST OF POLLS | ||
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