Senators Sports & Entertainment announced on Tuesday they will move forward with a bid from Toronto-based billionaire Michael Andlauer
Sorry, Snoop!
The Ottawa Senators’ ownership group has entered into a purchase agreement for the sale of the NHL team, but not with the 51-year-old rapper and entrepreneur, Senators Sports & Entertainment announced on Tuesday.
Instead, an entity controlled by Toronto-based billionaire Michael Andlauer will take over ownership of the Senators, according to the organization’s statement.
The agreement will give Andlauer, 57, ninety percent of the organization and “operational control” of the team, per the announcement.
According to ESPN, Andlauer’s purchase of the team is the largest in NHL history at almost $1 billion.
Additionally, ten percent interest in the team will remain with the Melynk Estate, controlled by Anna and Olivia Melnyk, whose father Eugene Melnyk served as chairman of the Senators until his death in May 2022.
Once the NHL approves the agreement and the sale finalizes, Andlauer will “assume control” of the team’s operations.
In May, Snoop confirmed on Instagram he partnered with Los Angeles-based businessman Neko Sparks in a bid to buy the hockey franchise. “Amazing what [Neko Sparks] is trying to do in Ottawa,” Snoop wrote on Instagram. “I’m looking forward to being apart of that ownership team. I WANNA BRING HOCKEY BACK TO OUR COMMUNITY.”
According to multiple previous reports, additional bids came in from actor Ryan Reynolds and singer The Weeknd — both of whom are Canadian.
The Senators joined the NHL as an expansion team in 1992 but the team has never won the Stanley Cup. Their only finals appearance came in 2007.
This season, the Senators missed the playoffs, finishing with the sixth-worst record out of 16 teams in the Eastern Conference.
In a statement to ESPN, Andlauer said, “My family and I are very excited to be part of the Ottawa Senators Hockey Club. I believe that the Senators’ fanbase is one of the most passionate in the league, and I’m excited to take the franchise’s success — both on and off the ice — to the next level. The short- and long-term future of the team is incredibly bright, and I look forward to getting to know the team, the fanbase and the community.”