The Ottawa Senators made NHL history on Tuesday when they became the first team ever to cross the billion-dollar mark with the franchise’s sale.
Since announcing the Ottawa Senators would be up for sale late last year, many NHL observers wondered if the team could set new records when a winning bidder was chosen. With sports being as popular as ever, purchasing a franchise in a popular league is a very good investment.
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Certainly, the NHL isn’t quite as popular in the United States as the NFL or NBA, however, the league is on very strong financial footing and now is a sellers market when it comes to big four sports teams. The Denver Broncos and Washington Commanders set new standards with their sales over the last year, and now the Ottawa Senators set a new high point for the league.
On Tuesday, the board of directors for the Senators Sports & Entertainment announced that they had agreed to sell the franchise to a group led by Michael Andlauer. While the official sale price was not revealed in the announcement, ESPN reported that multiple sources claim the final price will be $1 billion. Making the Ottawa Senator the first NHL team to be sold for 10 figures.
Ottawa Senators record (’22-’23): 39-35-8
Andlauer already has ties to NHL ownership with him having control of 10% of the Montreal Canadiens. The 57-year-old will have to divest his interest in the rival Canadien hockey franchise once the NHL’s board of governors approves the sale.
Part of Andlauer’s agreement to purchase the organization also included a deal to keep the Senators in Ottawa.
“My family and I are very excited to be part of the Ottawa Senators Hockey Club. 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.”
– Michael Andlauer
The Ottawa Senators first entered the league in 1992 and have yet to win a Stanley Cup title. However, they have made it to the conference finals on three occasions and to the Stanley Cup finals in 2006-2007.