UPDATE: We Now Know How Much the Ottawa Senators Sold For

This morning, it was officially announced that the Ottawa Senators had been sold to Michael Andlauer. We now know how much he had to pay for the franchise.

Once the bidding started on the franchise in the Canadian capital, things got pretty crazy. What was initially expected to be a 600-700M deal became one approaching a billion dollars.

Per Bruce Garrioch, the agreed upon deal is worth $950-million, and the Melnyk sisters, daughters of deceased owner Eugene, will retain 10%.

This type of deal will set a new standard if the NHL chooses to expand or relocate. This is truly a monumental event.

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