Report: Andlauer to complete purchase of Senators in coming weeks
Incoming owner Michael Andlauer is set to officially take over the Ottawa Senators ahead of training camp opening next month.
Bruce Garrioch of Postmedia reports "the NHL hopes to have the agreement to hand over the team to Andlauer signed by the end of the month or in early September at the latest."
A group led by the Toronto billionaire won the bidding war for the franchise in June, purchasing the Senators for just under $1 billion reportedly.
Andlauer must sell his 10 per cent share in the Canadiens as part of taking over the Senators, though the stake will be placed in a trust if not sold by the takeover date, Garrioch reports.
The founder of Andlauer Healthcare Group, Andlauer is also the owner of the Ontario Hockey League’s Hamilton Bulldogs.
There were four bids submitted for the Senators prior to the May 15 deadline, with Andlauer’s bid beating out the celebrity-filled bid from Neko Sparks, among others.
Anna and Olivia Melnyk – daughters of the late Eugene Melnyk – took over the franchise after the Senators' owner passed away in March, 2022. The team was put up for sale last November.