Senators' $950M Sale to Michael Andlauer Officially Approved by NHL

The Ottawa Senators have a new owner for the first time since 2003.

The NHL Board of Governors unanimously approved the sale of the Senators to a group led by Michael Andlauer, per TSN's Pierre LeBrun.

The sale closed Thursday for $950 million, the highest price ever paid for an NHL team, according to the Ottawa Sun's Bruce Garrioch.

The NHL agreed to sell the club to Andlauer's group on June 13, per Reuters. Andlauer also owns the OHL's Hamilton Bulldogs.

Andlauer, the fourth owner in Senators history, succeeds the late Eugene Melnyk. Melnyk's daughters will retain a 10 percent share in the franchise, per Garrioch.

Following Melnyk's death in March 2022 at age 62, his daughters Anna and Olivia placed the Senators on the market in November. One caveat for any buyer interested in purchasing the team was that they must agree to keep the team in Ottawa.

Andlauer's group presented one of four final bids considered by the Senators, per Garrioch. Andlauer reportedly won out thanks to his plans to build a new stadium for the Senators. The team has previously described moving closer to Ottawa's downtown as part of the Senators' "long-term vision."

Several of Andlauer's partners in the deal are Ottawa-based businesspeople, including Jeff York, partner in Ottawa grocery chain Farm Boy and Sobey's, and the Malhotra family, owners of Ottawa real estate developer Claridge Homes, according to Garrioch.

That partnership with Claridge could help Andlauer put together plans for the new arena, according to The Athletic's Ian Mendes.

Andlauer was also previously part of a collective that purchased a 10 percent minority share of the Montreal Canadiens. He will have to divest those interests now that he is the majority owner of the Senators, per NHL rules, according to ESPN's Kristen Shilton. He is currently "working" to sell his share to Canadiens co-owner Geoff Molson, per Garrioch. Forbes' Mike Ozanian reported in June that Andlauer could make as much as $120 million from the sale.

Andlauer will now serve as managing partner of the Senators, where he plans to "be involved in the day-to-day operation of the franchise," according to Garrioch.