That’s right: The Ottawa Senators are on the market. Eugene Melnyk, the owner of the Ottawa Senators, passed away on March 28, 2022 at the age of 62 due to illness. His daughters Anna and Olivia have since taken over running the club.
As the team faced insolvency and a bleak future in the nation’s capital, Melnyk purchased the club in 2003 for US$92 million. Under his leadership, the Ottawa Senators participated in the Stanley Cup final in 2007, where they were defeated by the Anaheim Ducks in five games.
On November 4, 2022, the board of Senators Sports & Entertainment announced that the Ottawa Senators have been put up for sale. However, whoever purchases the franchise is required to retain the club in Ottawa.
Sportico, an organization that covers the business of sports, estimates the Senators’ value at $655 million with room for growth. In fact, many parties have expressed interest in buying the NHL club after the sale was announced, including Canadian actor Ryan Reynolds.
Reynolds, who was born in Vancouver, spent a brief period of his childhood in Ottawa—notably in the Vanier neighborhood. He acknowledged during his appearance on “The Tonight Show” that he would require additional partners in order to purchase the franchise.
The Ottawa Senators recently revealed that they are renegotiating a prior agreement that fell through in 2019 to build a new downtown arena at Lebreton Flats. At the moment, the NHL club plays at the Canadian Tire Centre in Kanata.
On the whole, with their young core and newly acquired players Claude Giroux and Alex Debrincat, the Ottawa Senators are hoping to make the playoffs for the first time in 5 years.