The Ottawa Senators received bids from four interested parties by May 15 who were keen on becoming the new owners of the Senators. The bids came from Jeffrey and Michael Kimel ex-owners with a minority stake with the Pittsburgh Penguins, L.A entrepreneur Neko Sparks, billionaire Steve Apostolopoulos and Michael Andlauer.
Senators Go With Michael Andlauer
The Senators was estimated to be over $1 billion in value and a number of bids were estimated to be in excess of $1 billion. The Senators has now confirmed that they have decided to go with Michael Andlauer’s bid. Andlauer is set to become the new owner of the Senators subject to the finalisation of the sale and approval from the NHL.
Andlauer nor the Senators have disclosed the sale amount nor have they disclosed any other terms and conditions of the sale. The one condition that the Senators did lay out was that the new owner must keep the Senators in Ottawa.
Andlauer released a statement and said he was very happy to be chosen to be the new owner of the Senators and will hold a 90 percent stake with the team.