Zero Stanley Cups in 30 NHL seasons. No playoff games in six years. An aging arena in the suburbs. Why are the Sens coveted by billionaires?
In 2003, Melnyk purchased the team and arena out of bankruptcy for $93 million, helping prevent the franchise from moving to the United States.
In line with that, Forbes estimated the Senators were worth $380 million in 2013 and $655 million in 2021. Accordingly, last November, Forbes updated the value of the Senators to $800 million, 24th among the NHL’s 32 teams. The New York Rangers were tops at $2.2 billion, followed by the Toronto Maple Leafs and Montreal Canadiens .As the spirit of billionaires and celebrities started to climb on board, the rumoured sale price rose even further.
“[The Commanders] are the worst-run franchise in the history of sports,” Leeds said. “If you set out to run a franchise into the ground, you couldn’t have written a better script. And it sold for $6 billion.”Article content Add up the numbers and there are billions of reasons why NHL owners swear by commissioner Gary Bettman. He has been in charge since 1993, as revenues and franchise values have taken off.
A potential arena at LeBreton Flats is complicated, because the land would be leased to the Senators by the National Capital Commission. During Bettman’s visit to Ottawa in March, he also suggested that the 6.9-acre footprint allotted by the NCC was too small to house an NHL team.
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