It’s official: the Ottawa Senators have a new owner, Michael Andlauer. The deal closed on Thursday, September 21st, nearly a month after the NHL’s executive committee approved the sale on August 26th. Michael Andlauer, a Toronto-based billionaire, led the group that purchased the Ottawa Senators for just under $1 billion dollars, according to reports.
Andlauer, who owns a 10 percent share in the Montreal Canadiens, will have to sell said shares as he becomes the new Senators owner. However, if the shares are not sold by the takeover date, the shares will be placed in a trust, according to reports. While the Senators management team has been busy making moves in the offseason, the ownership group has been busier putting the final touches on the sale.
The Senators traded Alex DeBrincat to Detroit and signed Vladimir Tarasenko this offseason. With the team’s ownership changing hands, the group now turns its attention to a new arena. The 27-year-old Canadian Tire Centre, located in west Ottawa, a suburb of Kanata, is where they currently reside.
The Senators will now take another crack at a new arena on LeBreton Flats, near the edge of downtown. The NHL is currently hoping for a different location in the Senators’ new arena bid. Andlauer and the new ownership group have made a new arena their top priority after the sale was finalized.
