Bettman: Senators sale 'a matter of weeks'

The sale of the Ottawa Senators is entering a new phase and could be decided in a matter of weeks, NHL commissioner Gary Bettman said Wednesday.

Bettman, speaking at the NHL general manager meetings in West Palm Beach, Fla., said the team's sale is a "work in progress" but the first round of bidding is in the books and he's gratified to see the amount of interest in the team.

"I think it's fair to say there is robust interest in a meaningful and significant way in the Senators," he said. "I'm not prepared to share who or what, but I think everybody involved in the process feels good about the level of interest, both in terms of the number of bidders and the magnitude of interest."

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Sports business news publication Sportico reported last week that nine different groups submitted bids to buy the franchise prior to the March 6 deadline, with some valuing the team north of $900 million U.S.

Bettman said now that the first phase of bidding is over, the plan is to narrow down the number of parties.

"As we get to phase two, it's a matter of weeks," he said. "You begin the process of winnowing down the number of interested parties, and while you're reducing the number of parties, you're hopefully increasing the magnitude of their interest for those that are remaining."

The prospective owners include Montreal Canadiens minority owner Michael Andlauer and a consortium including actor Ryan Reynolds and Toronto-based real estate company The Remington Group, Sportico reported.

Reynolds announced on Wednesday that Mint Mobile, in which he holds a minority stake, is being acquired by T-Mobile in a deal with $1.35 billion.

The family of late owner Eugene Melnyk put the Senators up for sale last fall. Melnyk died in March 2022 after a lengthy illness.

Galatioti Sports Partners, a New York-based bank that provides services to the sports industry, is overseeing the sale.

Downtown move up to new owner, Bettman says

Bettman said whether the Senators move downtown or stay at the Canadian Tire Centre in Kanata will ultimately be the new owner's decision.

"That'll be up to the new owner as to how they want to proceed, but I do believe that there will be a good opportunity for somebody who's interested in possibly moving downtown to LeBreton Flats," he said.

The Senators and the NHL have said that part of a condition of the team's sale is that it remain in Ottawa.

The team reached a Memorandum of Understanding with the National Capital Commission last year aimed at putting an arena at LeBreton Flats, just west of downtown Ottawa. Lease negotiations for the land are ongoing, with a goal of signing a long-term lease agreement by this fall.

"Whether or not they want to do that, obviously there's a lot that has to be done, including with the NCC or the city of Ottawa," Bettman said Wednesday. "But ultimately whether or not a new owner wants to stay in the existing arena or move downtown is a decision they'll get to make.”