(OTTAWA) Ottawa Mayor Mark Sutcliffe said he was “delighted” that Michael Andlauer’s group has reached an agreement in principle to purchase the Senators.
The team announced Tuesday that Andlauer and his partners will buy 90 percent of the team from the Melnyk family. The deal is reportedly worth just under US$1 billion.
The sale of the team attracted various investors, including Canadian actor Ryan Reynolds and American rapper Snoop Dogg.
Sutcliffe said that although he did not favor a bid during the process, he is confident Andlauer will make a good owner.
PHOTO SEAN KILPATRICK, THE CANADIAN PRESS ARCHIVES
Ottawa Mayor Mark Sutcliffe
“I was encouraged by the meeting we had with him. I think he’s committed to building a winning team, Sutcliffe said at a press conference Wednesday. I look forward to working with him to help build a better future for the Senators and for our city. »
Andlauer, 57, is also the founder and CEO of Andlauer Health Group, which owns medical product supply companies. He is also the founder of the Toronto investment bank Bulldog Capital Partners.
Sutcliffe said other investors see the Senators purchase as an opportunity to build a new arena and other infrastructure, while he believes Andlauer’s priority is to deliver a winning product on the ice.
“One thing that came out during our meeting was that he said he’s investing first and foremost in the Senators to build a better hockey team and win the Stanley Cup. I think that’s his goal,” Sutcliffe said.
Sutcliffe added that Andlauer’s decision to include local business owners among its partners was also an attractive factor for the city.
“To know that they will be at Michael Andlauer’s table shows how much he cares about Ottawa and the market,” he said.
The Senators Sports & Entertainment board began the process of selling the team in November following the death of owner Eugene Melnyk.
His two adult daughters, Anna and Olivia, will retain 10% of the team’s shares.
With information from Liam Fox