Report: Potential Senators new owners move step closer to sale process
Published
The sale of the Ottawa Senators is poised to take another step forward as early as this week, Bruce Garrioch of Postmedia reported on Monday.
New York-based banker Galatioto Sports Partners (GSP) are expected to open the due-diligence website of the team’s finances.
This will mark a step forward for the sale process, which began on Nov. 4 and stipulated that new owners would not be allowed to relocate the Senators from Ottawa.
Garrioch reported in November that more than 20 groups reached out to GSP or the National Hockey League’s head office with interest in purchasing the team.
NHL Commissioner Gary Bettman said in December that more than a dozen potential bidders have signed a non-disclosure agreement to view the Senators books as part of the sale process.
GSP will now decide which groups will gain access to the financial information.
“They will have laid out a road map for who they want to allow in,” a league source said Monday, writes Garrioch.
The opening of the website was delayed from Dec. 1 as GSP needed more time to gather information from the estate of former owner Eugene Melnyk, who passed away on March 28 at the age of 62.
It is believed that Bettman will reach out to all interested parties to communicate an expected sale price between $800 million and $1 billion.
Bettman, along with deputy commissioner Bill Daly also revealed in December they had met with Canadian actor Ryan Reynolds regarding his interest in becoming part of the next ownership group.
Garrioch reports that Reynolds has now stepped up his efforts to be involved with the purchase and met again with Bettman last week.
The NHL is also keen to have Reynolds involved.
Garrioch also lists Hamilton billionaire Michael Andlauer – who owns a 20 per cent stake in the Montreal Canadiens - among interested parties.
Los Angeles-based magazine Sportico valued the Senators at $655 million in October.