The sale of the Ottawa Senators is in its final stages and the keys to the team could be in Michael Andlauer\u0027s hands early next month.
Two months after the Toronto billionaire reached a deal in principle to purchase the Senators from the estate of the late Eugene Melnyk for $950 million US, the paperwork to officially complete the sale is close to crossing the finish line.League sources told Postmedia on Monday that the NHL hopes to have the agreement to hand over the team to Andlauer signed by the end of the month or in early September at the latest.
Representatives of the Melnyk estate and New York-based sports banker Galatioto Sports Partners reached an agreement in principle with Andlauer’s group June 13 to bring closure to a lengthy auction process, that included four final bids for the franchise. Yorkville Asset Management, a Toronto-based investment group, is also believed be playing a role in the financing of the purchase.Oshawa Generals owner Rocco Tullio is also believed to be involved with Andlauer’s group.Article content
A source cautioned that dates in this process have always been “moving parts” and it may take “an extra week or two.”
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