Oakville billionaire, Hamilton Bulldogs owner reaches deal to buy Senators
Published June 14, 2023 at 11:24 am
Oakville resident and Hamilton Bulldogs owner Michael Andlauer has reached an agreement to purchase the Ottawa Senators.
The local billionaire paid a reported $950 million for 90 per cent of the NHL team. Anna and Olivia Melnyk will retain 10 per cent interest in the team.
The deal to purchase the Senators, who were put up for sale in November of 2022 eight months after owner Eugene Melnyk died, is subject to approval from the NHL.
“My family and I are very excited to be a part of the Ottawa Senators Hockey Club,” Andlauer said in a statement. “I believe that the Senators’ fanbase is one of the most passionate in the league and I’m excited to take the franchise’s success both on and off the ice to the next level.
“The short and long-term future of the team is incredibly bright, and I look forward to getting to know the team, the fanbase and the community.”
Andlauer is the sole owner of the Ontario Hockey League’s Bulldogs and a minority owner of the Montreal Canadiens. His 10 per cent share in the Canadiens and the Bell Centre will have to be sold to complete the purchase of the Senators.
Andlauer’s bid for the Ottawa franchise is also backed by former Pittsburgh Penguins minority owners Michael and Jeffrey Kimel and Canadian music star The Weeknd.
The 58-year-old Andlauer is the founder and chief executive officer of Andlauer Healthcare Group, which owns health-care supply chain companies.
He is also the founder of Toronto-based merchant bank Bulldog Capital
Born in France and raised in Montreal, the father of three lives in Oakville with his wife, Lucie.inhalton's Editorial Standards and Policies advertising