NHL Loses Billionaire Investor Over Disappointing Process From Gary Bettman

Toronto Billionaire Steve Apostolopoulos self-funded his own bid to own the Senators and was believed to be the front-runner in the race. Despite his willingness to bring his bid over the $1 billion mark, the process has yet to come to a close, and out of frustration, Apostolopoulos has tabled his bid.

It seems like the NHL and the Melnyk Estate had been using Apostolopoulos' bid as a mark for other investing groups to meet, and Apostolopoulos had enough of waiting for an answer. This certainly puts a dent in the NHL's goal to sell the group before the draft and free agency.

The loss of Apostolopoulos certainly stings for the Melnyk Estate, but it's not even the first investing group they've lost so far. Actor and businessman Ryan Reynolds was the face of his own bidding group and dropped out recently due to his special request for an exclusive negotiating period being denied. It seems like Bettmand and the Melnyk Estate care a lot more about making as much money as possible, rather than getting the best deal for the Senators franchise.

It appears as though Gary Bettman is his own worst enemy, and he keeps overplaying his own hand. The final offer for the Senators might be quite underwhelming for the NHL and the Melnyk Estate, and they'd have no one to blame other than themselves.

As Seen on Hockey Patrol - Billionaire Investor Walks Away From the NHL After Disrespect From Gary Bettman