The Ottawa Senators Are For Sale
The Ottawa Senators are about to head to the open market. According to a report from Postmedia’s Bruce Garrioch, Ownership has retained Galatioto Sports Partners (a New York-based investment bank) to sell the franchise.
Ottawa is currently being managed by Anna and Olivia Melnyk who inherited the franchise after their father Eugene passed in March. If Senators fans were worried, the franchise is widely expected to stay in Ottawa according to the report.
Sportico unveiled its valuations for each NHL team recently. The Senators ranked 27th with a $655-million valuation but the report mentioned early indicates that number would increase after the sale of the franchise.
Not to forecast too far ahead but this is a really big deal for the on-ice product. A new arena is probably necessary. Ottawa currently plays at Canadian Tire Centre, which opened in 1996. It’s also located rural Kanata more than 20 minutes from the downtown metro area. Something obviously has to give there.
Also, Alex DeBrincat still doesn’t have a long term contract and could opt to bounce given the shaky ownership situation. It’s already something the Sens appear nervous about. Why pay Canadian taxes while playing for a team on shaky footing? Alex DeBrincat is also is from Michigan and could opt to return to the States. The Senators have to get this resolved and fast.
Time will tell who buys the Senators. If you know any rich people, tell me to get in touch with me so I can be the general manager. They won’t regret it.
