Those trying to buy the NHL franchise know the next five months before training camp opens in September are pivotal to on\u002D and off\u002Dice success.
Some of the bidders were caught off-guard by Ranadivé’s sudden appearance in Ottawa. We’re told his group has been kicking tires for the past three or four months, but nobody is sure if he made a non-binding bid to GSP at the March 6 deadline set by the bank.
A source compared this sale process to a “slow drip” because it’s been over a month since groups were required to make their initial offers. Since then, they’ve conducted visits and sat down with management, but were only recently given more financial information to help shape their offers. In the document, the potential purchaser will have to outline how much they’re willing to pay for the Senators. It’s believed the new buyer will take advantage of the NHL’s $150 million in debt financing, which is available at a favourable interest rate.
Meanwhile, there was an interesting development for one of the potential Senators owners Thursday, when it was reported the National Football League’s Washington Commanders had been sold to a group led by Philadelphia 76ers owner Josh Harris for $6 billion. Jeffrey and Michael Kimel of Toronto-based Harlo Capital were here in early April, while an unnamed First Nations group attended the March 27 game against the Florida Panthers.
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