Bruce Garrioch of Postmedia is reporting that New York-based banker Galatioto Sports Partners received more than four bids this past week to purchase the Ottawa Senators. While Postmedia was able to confirm the names of four separate bidders, they were also advised that there are more than four groups bidding. A separate report by Los Angeles-based Sportico is stating that as many as nine groups have entered bids to buy the team. Postmedia has been unable to confirm this number with league sources. The Sportico report has also stated that some groups are willing to pay north of $900MM (in USD).
The four confirmed groups are The Remington Group, Michael Andlauer, Jeffrey and Michael Kimel and Neko Sparks. All four groups bring their own unique dynamics, but the most interesting must be The Remington Group, as they have an interesting backer in Hollywood superstar and Canadian-born actor Ryan Reynolds. The NHL wants Reynolds to be involved with the new ownership group, as he would bring worldwide attention to the NHL that Gary Bettman and company have long coveted.
These bids are just this first step in what is sure to be a long process. The opening bids were non-binding, which essentially means that not much risk was involved in submitting an opening offer. The next step will narrow the bids down to a shortlist, and the workload involved will get heavier with each additional round.
Ultimately the new ownership group will have an exciting opportunity with the Senators, albeit one with much work to be done. The Senators have one of the youngest and most exciting core groups of players in the league. However, they play in an aging arena in the suburbs of Ottawa, nearly a 30-minute drive from the downtown core. The new ownership group will have the chance to put their stamp on the Senators almost immediately, with what many hope will be a new downtown building at LeBreton Flats.
The Senators organization has signed a memorandum of understanding with the National Capital Commission for the LeBreton Flats property. But it would be up to the new ownership group to sign a lease, build the arena and ultimately develop a prime piece of property in downtown Ottawa.
Previous owner Eugene Melnyk was never able to get all the pieces to fit for a downtown building, but with the team turning a corner on the ice, and an appetite in the city of Ottawa for a downtown entertainment hub, the puzzle should come together for the group that is ultimately able to purchase the Ottawa Senators.
Bucky76
We all know that it’s not up the family to sell the team but Mr.Bettman will have his favorites so whoever he wants will get it..If it’s a American owner I would be very worried in Ottawa..
jdgoat
There is almost a 100% chance the team doesn’t leave Ottawa no matter who buys the team.
Bucky76
We will see but I would not really think different..
doghockey
Once again, the commissioners in the various pro sports work for the league owners. They don’t make these decisions unilaterally. This simple concept is known by most sports fans, excepting you and your clan of deep thinkers.
dano62
No bid from Quebecor? It’s apparent NHL isn’t interested in expanding there…