The National Hockey League is trying to separate the contenders from the pretenders in lining up potential buyers for the Ottawa Senators.
The New York-based banker, which is handling the sale on behalf of the family of late owner Eugene Melnyk, has all the information it needs to begin the sale process, but the NHL doesn’t want just anybody looking at finances of the Senators.
There’s no point letting somebody into the room who doesn’t have the financial wherewithal, isn’t 100% committed to keeping the team in Ottawa, isn’t willing to complete the deal with the National Capital Commission to build a new downtown arena and bring in Vancouver-born actor Ryan Reynolds as a partner.
The level of interest in the Senators could drive the asking price to anywhere between $800 million to $1 billion US. That would be an astronomical figure when you consider a Los Angeles-based magazine valued the franchise at $650 million.Hamilton billionaire Michael Andlauer, who owns 20 per cent of the Montreal Canadiens and is alternate governor for the club.
Toronto real estate developers Jeffrey and Michael Kimel, who are on the board of the Harlo Financial Group, which invests in real estate, wealth management and the entertainment industry; André Desmarais of Power Corp, who was part of a failed bid for the LeBreton Flats project five years ago, has held talks. There has been talk he made a pitch for the Senators several years ago but late owner Eugene Melnyk didn’t want to sell at the time. This newspaper has reported that Andlauer may be trying to sell his share in the Habs to Desmarais family;
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