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Andlauer's **$950M** buy confirms Canadian ownership bias and sets small-market floor without arena equity attached.
$950 million
ending a six-month auction that began after the estate…
10%
stake in the Montreal Canadiens
66
lives in Hamilton and built his fortune through Beaver…
16,714
fans per game last season in a
The NHL Board of Governors voted unanimously to approve the sale of the Ottawa Senators to Michael Andlauer for a reported $950 million, ending a six-month auction that began after the estate of Eugene Melnyk put the franchise on the block in November 2022. Andlauer, who already owns the OHL's Mississauga Steelheads and holds a 10% stake in the Montreal Canadiens, now controls the Senators outright. The league announced the decision Thursday without additional comment.
Andlauer's bid defeated a celebrity-heavy group that included Ryan Reynolds and The Weeknd, plus a competing offer from Los Angeles–based Kivu Partners that would have relocated team offices to California while keeping games in Ottawa. The Melnyk daughters, who inherited the franchise, prioritized Canadian ownership and Ottawa residency throughout the process. Andlauer, 66, lives in Hamilton and built his fortune through Beaver Trucking and Andlauer Healthcare Group, which he took public in 2019. The trucking company handles medical supplies across Ontario; the healthcare logistics arm reports annual revenue near $700 million.
The approval matters for three reasons. First, it confirms the NHL's willingness to block American capital when a Canadian market is involved. Commissioner Gary Bettman spent the spring quietly steering the Melnyk estate toward Andlauer after Reynolds's group stumbled on financing timelines. Second, the $950 million price—if accurate—sets a new floor for small-market franchises without new arena deals. Ottawa averaged 16,714 fans per game last season in a 18,652-seat building. The arena lease runs through 2031, and the city has no replacement plan funded. Andlauer inherits that negotiation. Third, the deal gives the Canadiens ownership a direct sightline into a division rival's operations. Andlauer will recuse himself from Montreal's Board discussions about Ottawa, but his 10% stake means Geoff Molson's front office now has a pipeline to the Senators' cap strategy and scouting priorities. The league approved similar overlapping stakes when Tom Dundon bought Carolina while holding 5% of the Rangers' parent company.
What to watch: Andlauer's first 90 days will focus on three items. One, whether he retains GM Pierre Dorion, whose contract runs through 2025 but whose draft record since 2016 has been mixed. Two, whether he opens talks with the city on a downtown arena before the 2024 federal election cycle starts. Three, whether he increases the front-office budget. The Senators' analytics department has four full-time employees; Toronto has twelve. Andlauer told reporters in June he would not cut payroll, but he did not specify where he would add. His Steelheads spend near the OHL's cap every season.
The Board vote was 32-0. No owner requested additional financial diligence, and no one abstained. Andlauer will formally take control on September 15, eleven days before training camp opens.
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