Ottawa Mayor Mark Sutcliffe says he is “delighted” that Michael Andlauer’s bidding group has reached a deal in principle to buy the NHL’s Senators.
The team announced Tuesday that Andlauer and his group will purchase 90 per cent of the club from the Melnyk family. The deal is reportedly worth nearly US$1 billion.
The sale of the team garnered plenty of suitors, including competing bids that reportedly included Canadian movie star Ryan Reynolds, Canadian R&B singer The Weeknd, and rapper Snoop Dogg.
Sutcliffe said while he did not favour any specific bid during the process, he is confident Andlauer is the right fit.
“I was encouraged by the meeting I had with him. I think he’s very committed to building a winning hockey team,” Sutcliffe said at a press conference on Wednesday. “I’m looking forward to working with him on building a better future for the Senators and for our city.”
The 57-year-old Andlauer is also the founder and chief executive officer of Andlauer Healthcare Group, which owns health-care supply chain companies. He’s also the founder of Toronto-based merchant bank Bulldog Capital Partners.
Sutcliffe said he felt other bidders were looking at the prospect of purchasing the Senators as a business opportunity to build a new arena and related development, but he believes Andlauer is committed to putting a winning product on the ice.
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“The one thing that stood out with me is that we sat down and he said `first and foremost, I want to invest in Ottawa and I want to build a better hockey team, and win the Stanley Cup.’ I think that’s his goal,” said Sutcliffe.
Sutcliffe said Andlauer’s inclusion of local Ottawa business owners _ Farm Boy co-CEO Jeff York and the Malhotra family, owners of real-estate development giant Claridge Homes _ in the deal is “great for the city.”
“I think it adds something to have a group of local business people who know the city intimately, who have lots of connections, who care about our community and have deep roots here,” Sutcliffe said. “To have them at the table of Michael Andlauer, I think it just shows how much he cares about Ottawa and is committed to the marketplace.”
The board of directors of Senators Sports & Entertainment initiated the process to sell the club in November after the death of owner Eugene Melnyk.
His adult daughters, Anna and Olivia, will retain a 10 per cent stake in the club.
–With files from Liam Fox.
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