garrioch andlauer takes over
Ten months after the Senators were officially put up for sale by the estate of late Eugene Melnyk, Toronto healthcare billionaire Michael Andlauer and his group were expected to sign on the dotted line Thursday to purchase the club for $950 million .Three league sources told Postmedia the sale of the club would close Thursday, barring any last-minute hiccups and the expectation is Andlauer will be introduced with his partners at a press conference Friday at the Canadian Tire Centre.
Representatives of the Melnyk estate and New York-based sports banker Galatioto Sports Partners reached an agreement in principle with Andlauer’s group on June 13 following a lengthy auction process that included four final bids for the franchise.Article content Andlauer, 57, becomes the fourth owner in the history of the franchise and he’s expected to be introduced Friday afternoon during a splashy news conference at the Canadian Tire Centre. His partners in the transaction have all been invited to attend, but it’s not clear if they’ll all be there.Anna and Olivia Melnyk, Eugene Melnyk’s daughters, have opted to retain a 10-per-cent share in the franchise.
Local businessman Jeff York, a partner in Farm Boy and Sobey’s, put together a group with 20-plus investors.Paul and Michael Paletta of Burlington-based Alinea Group holdings, who have been partnered with Andlauer since he initially pursued the franchise last November.Share this article in your social network
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GARRIOCH: Michael Andlauer ready to tee it up for first season as Ottawa Senators ownergarrioch column
Read more »
GARRIOCH: Michael Andlauer ready to tee it up for first season as Ottawa Senators ownerMichael Andlauer can’t wait until he gets the keys to the Canadian Tire Centre. “Hopefully it will happen before the end of the week,” the incoming ...
Read more »
Incoming Ottawa Senators owner Michael Andlauer speaks at Sens Charity Golf TournamentIt was a star-studded event at the Ottawa Senators Charity Golf Tournament Tuesday, but among all the NHL stars in attendance, all eyes were on incoming Senators owner Michael Andlauer.
Read more »
Report: Ottawa Senators sale to Michael Andlauer to close ThursdayThe sale of the Ottawa Senators to incoming owner Michael Andlauer will close Thursday, Bruce Garrioch of Postmedia reports.
Read more »
SNAPSHOTS: Ottawa Senators ready to get down to business with or without Shane PintoGARRIOCH SNAPSHOTS: The Ottawa Senators ready to get down to business, with or without Shane Pinto
Read more »
SNAPSHOTS: TGIF! Michael Andlauer could be introduced as Ottawa Senators owner Fridaygarrioch snapshots
Read more »