Two OHL owners team up to buy Ottawa Senators; one owns part of the Montreal Canadiens
Two team owners from the Ontario Hockey League have reportedly joined forces in a bid to buy the Ottawa Senators. The Ottawa Sun is quoting sources as saying the bid is being made by Toronto billionaire and owner of the Hamilton Bulldogs Michael Andlauer, along with Oshawa Generals owner Rocco Tullio.
According to The Ottawa Sun, Tullio offered the now deceased Ottawa owner Eugene Melnyk $650 million U.S. for the Senators last year, but Melnyk wasn't interested in selling.
Andlauer owns 20 percent of the Montreal Canadiens and has already attended NHL Board of Governers meetings with majority owner Geoff Molson in an alternate role. The Andlauer Healthcare Group also attempted to purchase the Senators years ago. That bid was also rejected by Melnyck.
The Ottawa Senators were recently valued at around $655 million. However, reports state the team will likely sell for between $800 million and $1 billion. The NHL has stated that several groups are interested in purchasing the team. We know there is one being put together by Canadian actor Ryan Reynold. Another is being made by Jeff York, CEO of Farm Boy grocery stores. The Ottawa Sun also reports that Claridge Homes CEO Neil Malhotra and his family are also interested and kicking the tires on a possible purchase.
Source: The Ottawa Sun
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