(Ottawa) Michael Andlauer was officially introduced as the new owner of the Ottawa Senators.
Andlauer spoke to the media at the Canadian Tire Center on Friday, about 24 hours after the National Hockey League made its purchase of the club official.
“It feels good,” Andlauer said as he put on a Senators jersey.
The NHL announced late Thursday that the club’s transfer to a group led by Andlauer had been unanimously approved by the league’s board of governors. Andlauer took control of the Senators’ operations immediately.
The Senators’ sale price is $950 million, the highest amount ever paid for an NHL franchise.
The club was officially put up for sale on November 7 after the death of previous owner Eugene Melnyk on March 28, 2022. Melynk’s daughters retained 10% ownership of the team.
One of Andlauer’s first actions as owner was to announce the return of Cyril Leeder to the Senators as president and CEO. Leeder served as team president from 2009 to 2017 and has served in other capacities since the team’s inception.
Ottawa missed the playoffs last year after posting a 39-35-8 record in the regular season.
Andlauer is the founder and CEO of the Andlauer Heathcare Group and the founder of Toronto-based investment bank Bulldog Capital Partners. He previously owned 10% of the Montreal Canadiens.
Its ownership group includes the Malhotra family, owners of real estate development giant Claridge Homes in Ottawa, Farm Boy grocery store co-CEO Jeff York and Oshawa Generals president and governor Rocco Tullio.
The Senators, led by captain Brady Tkachuk, will enter the new season with a young core eager to succeed.
This summer, Ottawa signed Stanley Cup winner Vladimir Tarasenko to a one-year contract as a free agent after trading away 25-year-old winger Alex DeBrincat. The team also signed defenseman Jake Sanderson to an eight-year, $64.4 million contract extension.
The Senators will play their first preseason game in 2023 against the Toronto Maple Leafs on Sunday.