Four groups submitted bids to buy the Ottawa Senators by Monday's deadline, with at least one offer of at least $1 billion U.S., multiple reports said.
Postmedia reported that three of the bids came from Toronto-area businessmen: Michael Andlauer, Jeffrey and Michael Kimel, and Steve Apostolopoulos. Los Angeles-based entrepreneur Neko Sparks also submitted a bid.
That group reportedly pulled out of the process at the 11th hour because their request for an exclusive negotiating window with the National Capital Commission to secure more land for a downtown arena was rejected.Andlauer is already a member of the NHL's board of governors as a minority owner of the Montreal Canadiens. He would have to sell his share in the Habs if he is the successful in buying the Senators.
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