The team announced Tuesday that Andlauer and his group will purchase 90 per cent of the club from the Melnyk family
Toronto-based businessman Michael Andlauer began his career trucking goods around the country, before expanding into merchant banking, pro sports, and health care.
The former beer-league goalie’s involvement with hockey team ownership dates back to 2003, when he bought the American Hockey League’s Hamilton Bulldogs. After selling that team in 2015, he purchased the Ontario Hockey League’s Belleville Bulls, moved the team to Hamilton and called it the Bulldogs. The deal was handled by Mr. Andlauer’s merchant bank, Bulldog Capital Partners, with legal advice from Goodmans, the source said.
“The socialism of professional sports protects all of the members,” said Rick Burton, a professor in sport management at Syracuse University in New York and co-author of the recently published bookIn North American sport, he noted, “there is no relegation” to lower-tier leagues. As well, “you can take losses on the ice and losses on paper in the short term, but you can watch the asset appreciate by really comfortable rates, as long as you hold the property.
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