Report: Canadian billionaire Apostolopoulos joins bid process for Sens
Published
Canadian billionaire Steve Apostolopoulos has joined the bidding process for the Ottawa Senators.
Bruce Garrioch of Postmedia reported on Wednesday that the Canadian billionaire is being brought in by Windsor-based construction/land developer and Oshawa Generals owner Rocco Tullio to help back his bid for the NHL franchise.
Apostolopoulos is also one of a few reported bidders for the NFL's Washington Commanders. He recently had discussions to buy the NBA's Charlotte Hornets from Michael Jordan but has focused on the opportunity to purchase the Commanders, according to ESPN.
A Toronto native, Apostolopoulos is the founder of Six Ventures Inc., a private equity venture fund. He attended Harvard and contributes to a wide variety of philanthropic organizations.
The Senators announced last November – eight months after the passing of owner Eugene Melnyk – that the team was officially up for sale and that any new ownership would not be allowed to move the franchise out of the city. Los Angeles-based magazine Sportico valued the Senators at $655 million last October, while NHL deputy commissioner Bill Daly estimated last month the sale price will be more than $800 million and could eclipse $1 billion.
Garrioch reported earlier this month that the other groups bidding for the team are believed to include Canadian actor Ryan Reynolds and The Remington Group led by Markham-based developer Christopher Bratty, a group led by Montreal Canadiens minority owner Michael Andlauer, Toronto billionaires Jeffrey and Michael Kimel of the Harlo Financial Group, Los Angeles-based producer Neko Sparks, along with businessman and owner of The Hockey News Graeme Roustan and First Nation's Group.