Senators owner update: Ottawa in agreement with Michael Andlauer to purchase franchise

The Ottawa Senators and Michael Andlauer are in agreement on a purchase of the franchise, the team announced on Tuesday morning. Andlauer, who is the founder of a Healthcare Group in Canada, has 90 percent of the stake in the team while the Melnyk family will retain 10 percent as part of the deal. The deal is still subject to approval by the National Hockey League.

Andlauer has a long history in hockey. He bought a stake in the Montreal Canadiens back in 2009 and then sold the AHL's Hamilton Bulldogs to the Habs. After that, Andlauer purchased the OHL's Belleville Bulls and relocated the team to Hamilton. Here is a statement released by the Senators from Andlauer:

“My family and I are very excited to be a 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.

First and foremost, thank you to my wife and family for their support. Thank you to both the NHL and the Melnyk family for providing me with the opportunity to make this dream a reality. Thank you also to my equity partners on the transaction, who like me are committed to bringing success to the National Capital Region. I would also like to thank my financial advisors at Bulldog Capital Partners.”

There was talk that actor and entrepreneur Ryan Reynolds was looking into purchasing the Senators. Those talks fell through and the Vancouver native was unable to acquire the team. Reynolds is part-owner of Wrexham AFC, a soccer team in the United Kingdom.

The Senators haven't made the postseason in six straight years and have never won the Stanley Cup. Ottawa advanced to its first and only Stanley Cup Final back in 2007, losing to the Anaheim Ducks. The Sens had a playoff streak going from 1997 to 2008, since then the team has had five different coaches and a string of lost seasons mixed with early playoff exits.

  
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