The sale of the Ottawa Senators to incoming owner Michael Andlauer will close Thursday, Bruce Garrioch of Postmedia reports.
The closing comes after the league's executive committee approved the sale on August 26, according to Garrioch.
After signing an agreement in principle to purchase the #Sens on June 13 from the estate of late Eugene Melnyk, league sources told Postmedia this morning the sale will close today to Michael Andlauer. Expectation is he will be introduced Friday with his partners.
— Bruce Garrioch (@SunGarrioch) September 21, 2023
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.
