This morning, it was officially announced that the Ottawa Senators had been sold to Michael Andlauer. We now know how much he had to pay for the franchise.
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Nearly a Billion Dollars
Once the bidding started on the franchise in the Canadian capital, things got pretty crazy. What was initially expected to be a 600-700M deal became one approaching a billion dollars.
Per Bruce Garrioch, the agreed upon deal is worth $950-million, and the Melnyk sisters, daughters of deceased owner Eugene, will retain 10%.
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This type of deal will set a new standard if the NHL chooses to expand or relocate. This is truly a monumental event.
POLL
UPDATE: We Now Know How Much the Ottawa Senators Sold For
Do you think the Senators are worth $1-billion?
Yes
57
26.8 %
No
156
73.2 %
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Young Montreal Canadiens draft pick traded in massive junior deal
