After more than six months of due diligence and hard-ball negotiations, the Senators have a new owner. Here's a compilation of everything we know.
It's a new era in Ottawa. The long process of selling the Senators finally ended on Tuesday as Michael Andlauer was announced as the preferred bidder. It brings some answers fans have been craving for months but still leaves many questions unanswered.
Let’s explore what's been reported thus far.
Andlauer and the Deal
Michael Andlauer is currently the minority owner of the Montreal Canadiens and long-time owner of the OHL’s Hamilton Bulldogs. First impressions have been great as anyone who seems to know Andlauer doesn't have a single bad thing to say and describes his interest as solely to win the Stanley Cup. As reported by Brent Wallace on the Coming in Hot Podcast, Andlauer is expected to move to Ottawa and make it his full-time residence.
As for the deal, the final number $950 million USD, an NHL record for the sale of a franchise. Andlauer and a group of local investors will take control of 90% while the Melnyk estate, Anna and Olivia, will retain 10% of the team. As for next steps, Andlauer will need to sell his shares in the Canadiens and the NHL Board of Governors will need to approve the sale before he can take control.
Minority Owners
It's been reported there are 15-20+ individuals who are part of a local consortium, joining Andlauer in this purchase. As time goes on, more names are likely to emerge, but these are the names known at this time:
· Jeff York, co-CEO of Farm Boy
· The Malhotra Family, owners of Ottawa-based developer Claridge Homes
· Yorkville Asset Management, a Toronto-based independent investment boutique
Having local knowledge of the city will be vastly important in building back the business side of the Ottawa Senators. Additionally, the Andlauer bid has received consultation from former Sens President Cyril Leeder along the way, and the Malhotra family has close ties to franchise legend, Daniel Alfredsson. Previously, Alfredsson has mentioned his preference would be “a meaningful role in hockey operations”, leading to the next set of questions.
Hockey Operations
As with most ownership changes in sports, it is expected that Andlauer will want to have a significant say in the front office personnel. While nothing is confirmed, it is believed that Andlauer is expected to bring in Steve Staios in some capacity, with many insiders believing he'll be the club's next GM (Craig Button, Frank Seravalli, etc.). Staios successfully worked under Andlauer for many years in Hamilton, and they have a great relationship.
Then there's the question of coaching. While there aren't nearly as many legitimate sources linking the two, there are some who believe Andlauer has been connected to Patrick Roy for the head coaching job in Ottawa. It did not help that Roy officially stepped down as coach of the Quebec Ramparts on the same day, but he had also planned on doing that long ago. So it was probably a coincidence the announcements were so close together.
Expect Andlauer to settle on his management team then getting their input, before pursuing a coach. As a final note, Seravalli says there are some rumblings head coach DJ Smith may be safe, at least for now, because of Andlauer’s OHL connections.
Timeline
Although fans finally know who will own the team, it may still take a long time before big decisions are made. As reported by Bruce Garrioch, the sale may still not close until September, and then reported by Darren Dreger, this means it is unlikely we see significant hockey operations changes until then. However, it is believed since Andlauer now has an agreement in place, he will likely be consulted in some capacity, but much is unknown when it comes to major decisions such as DeBrincat, Dorion, DJ Smith, etc.
In a brighter scenario, there are ways to fast-track things should the league wish to do so. Although the sale may not be ready to close before the next board of governors meeting on June 21, it is expected that they wouldn't necessarily have to wait for the next one, but instead gather for a one-off vote. Since Andlauer has attended these meetings in the past as alternate governor of the Canadiens, the vote is expected to be a mere formality.
New Arena
Last year, the Senators were awarded the right to negotiate a lease with the NCC for a new arena at LeBreton Flats, and that is where plans currently sit. It is known that Andlauer intends to explore a new downtown arena, but it may not be at LeBreton Flats. Per Bruce Garrioch, the leading contender is Bayview Yards, just west of LeBreton Flats. As of this moment, that is all the information we have on Andlauer’s intention for a new rink.
While it is expected many more details will spill out in the coming days, weeks, and months, Sens fans can at least rest knowing the direction of this team is starting to take form. There may still be a frustrating wait for big decisions, but the facts are the Ottawa Senators now have an extremely promising young on-ice product and now an owner, who's just as promising, at the top of it all.