GARRIOCH: The bidders for the Senators would like this process to move along
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 last 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 offer. 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. The belief is 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 owners Thursday when it was reported the National Football League’s Washington Commanders have 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 game March 27 against the Panthers.
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