The Toronto billionaire raised $86.6 million by selling shares in one of his companies in a deal announced Wednesday.
Andlauer won’t have direct access to the money because the proceeds of the sale of shares will go to Andlauer Management Group, but this could signal that Andlauer is positioning himself to make a bid for the Senators through his parent company.Article content
We also know Andlauer isn’t alone in this venture. There is talk in league circles that he’s taking on partners — including Oshawa General owner Rocco Tullio — and that Andlauer has also brought Hamilton-based Allinea Group Holdings into the fold. Andlauer, a part-owner of the Montreal Canadiens, is considered one of the frontrunners for the Senators franchise along with Toronto real-estate developers Jeffrey and Michael Kimel, who have also been aggressive in their pursuit of the club.
A league source said this week another Canadian-based group was interested in making a serious pitch and hasn’t been identified publicly. We’re told the company has the ability to make this happen, has solid backing and is 100 per cent committed to keeping the Senators in Ottawa, and the work they’ve done on a bid is comprehensive.
NHL commissioner Gary Bettman and deputy commissioner Bill Daly will provide an update on the sale process when they sit with the board of governors Monday and Tuesday.
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