When owner Eugene Melnyk passed in March of 2022, the ownership of the Senators went into a trust controlled by his daughters Olivia and Anna. Melnyk purchased the senators in 2003 for $130 million (CAD). Now almost 15 months later, the Senators will finally have a new owner ponying upwards of $200 million (CAD) more than the value of the franchise.
Ottawa has only won more than 50 games twice in franchise history, and have not finished above sixth in their division since the last playoff appearance. The Senators in fact have only made the playoffs twice since 2014. With a litany of young talent only matched by the Buffalo Sabres, the Senators asking price of $800 million (CAD) ranks 24th in the NHL.
Tim Stuetzle was the third overall pick of the 2020 draft, and is still only 21 years old. Drake Batherson turned 25 just a few weeks ago. Thomas Chabot was the 18th overall pick in the 2015 draft, but will not turn 26 until next January. After coming over from the Chicago Blackhawks for a host of high-round draft picks, Alex DeBrinkat saw his aggression go up, while seeing his offensive production slide a touch in his first year with the Senators.
Jakob Chychrun was one of the biggest surprises that moved at this year’s trade deadline, as the Arizona Coyotes moved the All Star defenseman for another host of high draft picks. Chychrun only played 12 games with the Senators, being shut down for the season on March 24 with a hamstring injury.
Then there is captain Brady Tkachuk, who just finished a season where he put up the best numbers of his young career, at just 23 years old.
Ottawa enters next season with over $16 million in cap space, with the aforementioned core all signed for at least two more years. This is one of the selling points for potential buyers, such as Ryan Reynolds, The Weeknd, or Snoop Dogg.
Reynolds is a consortium for a group that includes the Remington Group, a leader in philanthropy consulting. The Reynolds offer would have come in at $1 billion (CAD), but was pulled after the NHL reportedly denied a request for an exclusive window last Thursday to complete the deal. Reynolds, the Vancouver-born film megastar, would have been the highest-profile owner in the NHL.
This now leaves the two largest offers still in play as down to The Weeknd and Snoop. The Weeknd, whose real name is Abel Tesfaye, grew up as a hockey fan in Toronto. Tesfaye’s group is led by Canadian billionaires Jeff and Mike Kimel. This group is currently offering at least $900 million (CAD) for the Senators.
Lastly, there is the high-profile group led by Calvin "Snoop Dogg" Broadus and California businessman Neko Sparks, the Chief Technical Officer of Pixel Lime, a Los Angeles-based AI and Immersive Technology company. Broadus already said on ESPN last week that his intentions to join the Sparks group as consortium, would be to become the first black owners in the NHL. Snoop has been spotted at a number of NHL games in recent years, even stepping in for a few minutes of play-by-play on ESPN telecasts. His hopes to expand hockey to the inner city are why the NHL should think hard about his offer, as this grows the game immensely in a short period. A $950 million bid goes a long way towards his vision becoming reality, as does having Dwayne “The Rock” Johnson as part of your group.
All three groups have publicly insisted that no relocation out of Ontario will be entertained. The far cry from Melnyk’s 2017 statement that he would move the Senators if fans did not start showing up at Canadian Tire Centre shows that the Senators could be in for a New York Islanders-like turnaround after John Ledecky took over in 2016.
Reportedly, the league would like to have the sale finalized by the end of the Stanley Cup Finals next month.
Reportedly, the league would like to have the sale finalized by the end of the Stanley Cup Finals next month.
-JC24