The Ottawa Senators will reportedly soon receive a historic bid to buy the team from the group led by Hollywood superstar Ryan Reynolds.
Sports franchise sales have been in vogue over the last few years since it is one of the best and steadiest investments in the world. In just the last two years the NFL’s Denver Broncos and Washington Commanders, and the NBA’s Phoenix Suns have been sold for massive amounts. While legendary English Premier League club Manchester United is on the block and likely to set new records in the coming months.
However, another franchise from North America’s big four sports has also been up for sale. In March of 2022, the Ottawa Senators’ ownership situation came into question when owner Eugene Melnyk passed away at 62 years old. Unsurprisingly, control of the team was then passed on to his daughters Anna and Olivia. However, both are under 25 and not fit to run a professional sports franchise.
Ottawa Senators record (’22-’23): 39-35-8, 86 points
It lead to a November announcement that the team was officially up for sale, and it wasn’t long before Deadpool actor and Wrexham AFC co-owner Ryan Reynolds threw his hat into the pursuit to purchase the team. Soon after, it was revealed that Reynolds had joined forces with real estate magnate Christopher Bratty to form the Remington Group consortium and officially put in a bid to purchase the Ottawa Senators and the Canadian Tire Centre.
On Friday, the Ottawa Sun reported that to make sure they get the winning bid, the Remington Group is expected to increase their bid to $1 billion. That would be the most, by far, that’s ever been paid for an NHL franchise. Topping the $900 million the Pittsburgh Penguins went for two years ago.
The Ottawa Senators were sold Melnyk 20 years ago for $92 million. The Sun also revealed last week that bidding will come to a close on May 15.