Michael Andlauer reaches agreement to purchase Ottawa Senators

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A group led by Canadian businessman Michael Andlauer has reached an agreement to buy the NHL’s Ottawa Senators.

The team announced Tuesday that Andlauer and his group will purchase 90% of the club from the Melnyk family. The deal is reportedly worth nearly $1 billion, which is "give or take" what Commissioner Gary Bettman expected the team in Canada's capital to sell for.

"Michael represents everything we could have hoped to find coming into this process — a passionate owner who is committed to Ottawa," Senators chairman and governor Sheldon Plener said in a statement announcing the sale. "We believe it is a momentous day for the National Capital Region."

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View of a Ottawa Senators logo on a jersey worn by a member of the team at warm-up before the Ottawa Senators versus the Montreal Canadiens game on February 25, 2023, at Bell Centre in Montreal, QC  (David Kirouac/Icon Sportswire via Getty Images)

Anna and Olivia Melnyk, daughters of late former owner Eugene Melnyk, will retain 10% interest. Melnyk died of an undisclosed illness in March 2022 at age 62.

Andlauer, 57, is the founder and CEO of a health care group with transportation options for that sector and started a private equity company based in Toronto. He owned the American Hockey League's Hamilton Bulldogs from 2004-2015, then purchased the Ontario Hockey League's Belleville Bulls and moved them to Hamilton.

He has been alternate governor for the rival Montreal Canadiens since purchasing a share of the storied franchise in 2009. Andlauer must sell his interest in the Canadiens before his purchase of the Senators is