Ottawa Senators sale set to close Thursday, Michael Andlauer will become official owner of the franchise

Andlauer is set to purchase the Ottawa Senators for $950 million, the highest price ever paid for a National Hockey...

The closing of the sale will occur after the transaction was recently approved by the NHL’s executive committee. Aside from any unforeseen circumstances, the expectation is Andlauer will be introduced with his partners at a press conference Friday at the Canadian Tire Centre.

With the purchase being finalized Andlauer is now forced to sell his 10 percent share in the Montreal Canadiens as part of taking over the Senators. Andlauer’s stake in the Canadiens will be placed in a trust due to the inability for one owner to own multiple stakes in several NHL organizations if his ten percent share cannot be sold during the appropriate window.

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