Sens army HQ

[rocketphish]

Oshawa Generals' owner Rocco Tullio makes his own bid for Senators

Bruce Garrioch, Ottawa Citizen
Published Mar 13, 2023 • Last updated 1 hour ago • 4 minute read

Rocco Tullio has decided to go it alone in a bid to purchase the Ottawa Senators.

A league insider told Postmedia Monday that Tullio, the owner of the OHL’s Oshawa Generals, entered his own bid for the Senators before the Monday, March 6th deadline to make a pitch for the franchise were due at the offices of New York-based banker Galatioto Sports Partners.

League sources wouldn’t confirm the report last week that there were nine bids and that some were in excess of $900 million. One said GSP received “multiple bids” and the number was “more than four” but Postmedia was able to dig up Tullio as another name that has made an offer.

The NHL is being tight-lipped about the sale of the Senators as it enters a pivotal stage with the contenders being separated from the pretenders and then a shortlist put in place to determine the next steps in the sale process.

Deputy commissioner Bill Daly confirmed Monday at the NHL general manager’s meetings in Palm Beach, Fla., the first round of bids for the Senators have been received and the ones they have on the table are being studied with a fine-tooth comb.

“We’ve received the first round of bids and they’re being evaluated,” Daly told TSN Monday afternoon.

Pressed later on when an agreement on the sale would be finalized, Daly didn’t offer up a timeline.

“Too soon,” Daly said. “Working and refining those bids is going to take a couple of weeks and then we’ll see where we are at.”

Make no mistake, there’s a lot happening behind the scenes and a lot of moving parts.

Tullio had been talking about a partnership with Toronto-based billion Michael Andlauer, but wasn’t able to come an agreement and Tullio went ahead at the deadline to make his own pitch. Tullio would have partners involved in the deal.

Sources say Tullio, the owner of Windsor-based Rock Developments, offered late owner Eugene Melnyk $650 million (all figures U.S.) for the team late in 2021. Melnyk was willing to listen but didn’t consider it seriously because he had no interest in selling the Senators.

But Tullio had the financing in place to try to make that deal to buy the Senators, or he wouldn’t have approached Melnyk in the first place. He purchased the Generals in 2007 and has built the club into a successful franchise.

Though Tullio had serious discussions with Andlauer about a partnership in November but they weren’t able to come to an agreement and the indications are they opted to enter separate bids with no hard feelings.

Andlauer’s health care company was recently valued at $2.2 billion, and his personal net worth is listed at $1.2 billion. He would have to divest himself of his small share in Montreal Canadiens to buy the Senators, but the expectation is that wouldn’t be difficult.

Postmedia has also confirmed the Markham-based Remington Group, which is led by Christopher Bratty and includes Vancouver-born actor Ryan Reynolds, has also entered a comprehensive bid and sources say this group wants to put Ottawa on the map “to make it destination.”

NHL commissioner Gary Bettman has been supportive publicly of the 46-year-old Reynolds involvement with the league. If the Remington Group wins the bid, then we’ve been led to believe that Reynolds would play a key role in the front office.

Jeffrey and Michael Kimel, Toronto-based real estate magnates who used to have part ownership of the Pittsburgh Penguins, and a consortium led by Los Angeles-based producer Neko Sparks have also made formal offers.

The Kimel’s also have to be considered among the group of frontrunners because they were part owners of the Pittsburgh Penguins before the club sold to the Fenway Sports Group in 2021.

The Kimel family had reached out to Melnyk, who passed away after a lengthy illness in March 2022, to try to become partners in the LeBreton deal in Dec. 2021. Melnyk was advised by the league to make the bid himself with the National Capital Commission.

No matter which group purchases the Senators we’ve been told a group of local investors would like to be involved on a small scale since it sounds doubtful the new owners will be from Ottawa unless there’s a mystery group.

We’re also told Farm Boy executive Jeff York was trying to raise $100 million from a group of 20 local investors at $5 million each to be a part of Andlauer’s bid. One of York’s partners in raising capital is Jean Pierre Poulin, the chief executive officer of the Devcore Group.

Sources say York held a call with more than 40 local businesspeople sometime in the last month to gauge interest in purchasing a small a partnership in the franchise. There was no shortage of interest, and a source told this newspaper Monday that York will no issue raising the capital.

https://ottawacitizen.com/sports/hockey/...co-tullio-makes-his-own-bid-for-senators

[J.OT13]

Rocco's real estate portfolio looks about as exciting as Devcore's, with a little bit of Trinity big box

[rocketphish]

Coyotes GM Bill Armstrong says he made best deal possible for Chychrun

Bruce Garrioch, Ottawa Citizen
Published Mar 14, 2023 • Last updated 1 hour ago • 4 minute read


<snip>


SALE STUFF

As Postmedia reported Monday, Rocco Tullio, the owner of the OHL’s Oshawa Generals, has submitted his own bid to purchase the Senators, but he does have partners.

He had discussed a bid with Toronto billionaire Michael Andlauer, but in the end they couldn’t come to an agreement. Tullio, a Windsor-based billionaire, wants to be the majority owner if he’s successful in his purchase of the Senators.

The talk is Tullio has a United States-based backer who has helped him put together his bid. Don’t forget, he offered to buy the Senators from the late Eugene Melnyk before he passed away from a lengthy illness in March 2022.

Also, we’re told at least one of the five bids this newspaper has confirmed made an offer that has put the whopping sum of more than $900 million on the table for the franchise. Remember, though, this is a non-binding bid and the rubber will meet the road when the groups are shortlisted.

A league insider noted Tuesday all the huge bid will do is “drive up the asking price” for the serious parties who may not have gone there yet. Galatioto Sports Partners is going over the bids with the NHL’s head office and there will be a shortlist in place soon.

[email protected]
Twitter.com/sungarrioch

https://ottawacitizen.com/sports/hockey/...-he-made-best-deal-possible-for-chychrun

[JHikka]

An aside, but I wonder if Andlauer getting kicked out of FirstOntario 'without notice' and then Tullio being unable to work with him means something about Andlauer in general.

[J.OT13]

Originally Posted by JHikka

An aside, but I wonder if Andlauer getting kicked out of FirstOntario 'without notice' and then Tullio being unable to work with him means something about Andlauer in general.

Another Menlnyk-esque personalty?

[rocketphish]

Senators sale heats up as Reynolds cashes out on Mint Mobile

Bruce Garrioch, Ottawa Citizen
Published Mar 15, 2023 • 4 minute read

Hold the phones, Ryan Reynolds may be positioning himself financially in his group’s bid to purchase the Ottawa Senators.

Mint Mobile, a United States wireless firm that boasted the Vancouver-born actor as a part owner, confirmed Wednesday morning it sold to T-Mobile in a massive cash-and-stock deal that could be worth as much as $1.35 billion (all figures U.S.) when complete.

The 46-year-old Reynolds, who has made a pitch to buy the Senators along with the Markham-based Remington Group led by Christopher Bratty, held as much as a reported 25 per cent share in Mint Mobile which means he stands to cash in on this to tune of more than $100 million.

The Hollywood Reporter reported “it’s not immediately clear how much Reynolds will personally see from the deal, though he is said to own between 20-to-25 per cent of Mint Mobile, implying a low nine-figure payday.”

This news came as NHL commissioner Gary Bettman told TSN Wednesday the number of bids for the franchise is “robust” and as the process moves to phase two there could be an agreement in principle to sell the Senators “in a matter of weeks.”

Bettman made the comments as the NHL wrapped its general manager’s meetings in Palm Beach, Florida.

“I think it’s fair to say there is robust and meaningful interest in the Senators and the process will continue,” Bettman said. “The first round of bidding is in the books. 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.”

Reports have indicated New York-based banker Galatioto Sports Partners received as many as nine bids for the franchise at the deadline March 6th for bidders to make a non-binding pitch to purchase the Senators from the Melnyk family.

Postmedia has been able to confirm five of the bidders, including the Remington Group which has brought Reynolds on board to be a partner. He, and his Los Angeles-based production company Maximum Effort, will play a key role in the partnership if they’re able to close on this deal.

There’s no question that selling the wireless firm will help Reynolds financially if his group’s bid on the Senators is successful. This newspaper has confirmed one of the groups involved in the first-round bidding came in at well over $900 million.

But as we’ve noted in this space the competition is stiff.

Postmedia has confirmed Toronto billionaire Michael Andlauer, who many consider to be the frontrunner in this process because he’s a part owner of the Montreal Canadiens, has entered a bid along with Rocco Tullio, who owns the OHL’s Oshawa Generals and has U.S. backers.

Jeffrey and Michael Kimel, Toronto-based real estate magnates who used to have part ownership of the Pittsburgh Penguins, and a consortium led by Los Angeles-based producer Neko Sparks have also made formal offers.

The expectation is that as early as next month the NHL could have an agreement in principle with the new owner and then have the paperwork in place by July 1.

“This is a process that is best conducted the way these processes are which is among the parties directly involved,” Bettman said.

Asked if there was a timeline, Bettman said: “As we get to Phase 2 it’s a matter of weeks.”

Bettman said the next step will be to make a shortlist and try to get everybody involved to put their best foot forward to purchase the franchise. It’s fair to suggest there could be a bidding war and this will only raise the value of the Senators.

It wouldn’t be surprising if the sale price reached $1 billion.

“You begin the process of winnowing down the number of interested parties,” Bettman said. “And while you’re reducing the number of parties, you’re hopefully increasing the magnitude of their interest for those that are remaining.

“There’s no magic there, it’s typical of what goes on in the sale of a franchise, but I’m gratified to see the amount of interest.”

Building a rink at LeBreton Flats isn’t a requirement for the new owner, but Bettman said he’d like to see the Senators move downtown if a deal to build a new rink can be completed with the National Capital Commission and the city of Ottawa.

The NCC is hoping to have a lease agreement finalized by the fall and Bettman has made it clear publicly he’d like to see the Senators downtown.

“That will be up to the new owner as to how they want to proceed,” Bettman said. “But I do believe there will be a good opportunity for somebody who’s possibly interested in moving downtown to LeBreton Flats.

“Whether they want to do that or not there’s a lot that has to be done with the NCC and the city of Ottawa. But, ultimately whether or not a new owner wants to stay in the existing arena moved downtown is a decision they’ll get to make.”

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https://ottawacitizen.com/sports/hockey/...wcm/4d40d7a6-5a4b-4b82-bf6a-227c8add2cb5

[rocketphish]

Ryan Reynolds' marketing ability would be a big plus for the Ottawa Senators
"I will definitely say I go all-in with everything I do,"

Bruce Garrioch, Ottawa Citizen
Published Mar 16, 2023 • Last updated 37 minutes ago • 4 minute read

Ryan Reynolds achieved fame by becoming an actor, especially with his portrayal of Deadpool.

The 46-year-old Vancouver-born Reynolds has helped to pad his already sizeable fortune with a smart business and marketing mind, which is why he has the wherewithal in every facet to be part of The Remington Group’s bid for the purchase of the Ottawa Senators.

The timing of Reynolds’ and his partners’ decision to sell their shares of Mint Mobile to wireless telephone giant T-Mobile in a massive deal that could be worth as much as $1.35 billion (all figures U.S.) was hardly a coincidence.

Reynolds held as much as a reported 25-per-cent share in Mint Mobile, meaning he stands to cash in to the tune of more than $100 million in real cash plus stock in T-Mobile. That company was trading at more than $141 per share Tuesday morning.

Reynolds has been interested in being part of the new Senators’ ownership group since the Melnyk family put the team up for sale. After speaking with all parties making bids, Reynolds aligned himself with the Markham-based Remington Group, led by Chris Bratty.

National Hockey League commissioner Gary Bettman has been steadfast in his support for Reynolds being part of the club’s ownership group, and, with New York-based banker Galatioto Sports Partners poring over the first round of bids, the process is about to heat up.

Not only has Reynolds started his own production company with his Los Angeles-based Maximum Effort, but he was also a part owner of Aviation Gin when it sold for $600 million. He still sits on the board of directors of the company and remains a spokesperson.

Listening to Reynolds discuss his business strategy should be music to the ears of NHL owners. It would be hard to believe the league would pass up on this chance to bring not only his celebrity to the front office, but also his wonderful personality and approach.

“Ultimately what we do, myself and my company, Maximum Effort, really well is emotional investment,” Reynolds told CNBC’s Mad Money with Jim Cramer on Monday night. “When you create emotional investment, you not only create affinity, but you also create resilience for your brand that can help you through ups and downs.

“You have this emotional moat around your brand that can help it be quite resilient.”

As Postmedia has reported, if Reynolds is part of the new ownership group of the Senators, he plans to play a leading role in the front office. That’s just his personality; he’ll never be a half-miler when an investment he’s passionate about is involved.

“I will definitely say I go all-in with everything I do,” Reynolds said. “I have an amazing team around me with George Dewey and James Toney at Maximum Effort. We have a lot of different things, a production company, a marketing company and fund. There’s a lot going on.

“I only have so much bandwidth, and Aviation Gin is a big one as well, so I do have to let something go.”

Reynolds has experience in the sports-ownership space. He’s also part-owner of Wrexham FC, a Welsh soccer team whose popularity worldwide has grown since Reynolds and actor Rob McElhenney took control.

Ottawa is different because Reynolds spent part of his youth in Vanier and has ties to the national capital.

As we’ve reported in the past , Reynolds’ plan with the Senators includes a “Welcome to Wrexham”-style reality series giving people a glimpse of what makes the organization tick on a daily basis. The marketing element in Ottawa will be very important with the Senators considering a move downtown to a new rink at LeBreton Flats.

“Our north star at Maximum Effort is to bring people together in smart, fun and unexpected ways,” Reynolds said. “Storytelling is very broadly applicable. People who talk about building organizations, (talk about) best practices … Best practices are amazing, and you need best practices.

“But I think we overlook storytelling sometimes, and, in that diagram, in the middle these two intersect at culture. If you have best practices, you have great storytelling and you’re able to grow things in really organic ways. Mint was one of those one in a billion products that was A-plus when I got there. My job was to create as much awareness around this product as humanly possible and engineer a marketing campaign.”

Listening to Reynolds, it’s easy to imagine what kind of stamp he could put on the Senators, and the exposure would surely benefit the NHL. His presence would bring more people under the umbrella and attract new fans to hockey, especially in the United States.

“Business can be a positive force, but I think it’s who’s running the business,” he said. “It always comes from the top down. When you have a great leader, and someone who has actual genuine empathy in their heart, miracles can happen and amazing things can happen.”

You get the feeling that Reynolds could make some “miracles” happen, both on and off the ice, if he’s part of the Senators’ next ownership group.

[email protected]
Twitter.com/sungarrioch

https://ottawacitizen.com/sports/hockey/...wcm/2f51a8cf-571a-45ac-9349-09d9ac69ca32

[rocketphish]

Gary Bettman will sit down with Sutcliffe and NCC as suitors enter next stage of bidding for Senators

Bruce Garrioch, Ottawa Citizen
Published Mar 21, 2023 • Last updated 1 hour ago • 4 minute read

There will be some important visitors to the Canadian Tire Centre in the next week.

NHL commissioner Gary Bettman will be in town Monday while Postmedia has also learned six potential suitors for the Ottawa Senators will visit this week to get a first-hand look at the city along with the operation.

Accompanied by deputy commissioner Bill Daly, the timing of Bettman’s visit is part of their annual tour of the NHL’s 32 rinks.

They will attend Monday’s game against the Florida Panthers at the Canadian Tire Centre. They will also spend time with Ottawa Mayor Mark Sutcliffe along with officials from the National Capital Commission.

Sutcliffe’s office confirmed “the mayor knew Mr. Bettman would be in town for the game and thought it would be a good idea to chat.”

Postmedia has reported once the new owners of the Senators take over, Sutcliffe’s office can expect a call regarding the project at LeBreton Flats. You have to think Bettman and Daly will at least lay the groundwork for those discussions with Sutcliffe if they get the chance to sit down.

Bettman was in Calgary last month and had a productive meeting with Mayor Jyoti Gondek about the involvement of the city in a new rink.

Bettman and Daly are bullish on the Senators moving downtown so they’ll be able to outline the expectations of the new owners when they sit down with Nussbaum. Ideally, the NCC would like to have a long-term lease in place by late fall.

All this will take place while the sale of the Senators moves to its second phase.

While Postmedia hasn’t been able to confirm a report Galatioto Sports Partners received nine bids for the franchise in the initial stage, we believe six groups have been given access to the second stage and they’ll now be given the opportunity to be involved in the auction.

There is talk a couple of groups made bids in excess of $900 million (all figures U.S.) in the first round, but Daly has always maintained he thought the sale price of the Senators would be north of $800 million and could reach the $1 billion mark.

Postmedia believes the six groups are:

• The Remington Group: A Markham-based developer led by billionaire Christopher Bratty, that includes Vancouver-born actor Ryan Reynolds. He will play a leading role if they win the bid and Remington has been aggressive in its pursuit. His Los Angeles-based production company Maximum Effort would also be involved, but we don’t believe Reynolds will be here for a site tour.
• Michael Andlauer: A Toronto billionaire, he’s been involved in this process since it opened. He’s put together a strong partnership that includes Paul and Michael Paletta of Burlington-based Alinea Group Holdings. Farmboy CEO Jeff York is also putting together a limited partnership to align itself with Andlauer.
• Harlo Capital: Jeffrey and Michael Kimel of Toronto-based Harlo Capital and Harlo Entertainment Group attempted to partner with late Eugene Melnyk on his bid for LeBreton Flats. The Kimel family sold their minority share in the Pittsburgh Penguins to the Fenway Sports Group in 2021 and would like to get back into the NHL.
• Neko Sparks: A Los Angeles-based producer, he’s put together a consortium and entered a bid. On the Sparks Finance Group website, the company states it “will continue its foray into sports by pursuing a controlling interest in a pro sports team.” That’s accompanied by a photo of a hockey player, but Sparks is pictured in front of a billboard ad at the Canadian Tire Centre.
• Rocco Tullio: Sources say Tullio, the owner of Windsor-based Rock Developments, offered late owner Eugene Melnyk $650 million (all figures U.S.) for the team late in 2021. Melnyk was willing to listen but didn’t consider it seriously because he had no interest in selling the Senators. He has American backers.
• Graeme Roustan: The owner of The Hockey News has reportedly made a bid for the franchise with the backing of a reported First Nations Group. Postmedia has no confirmation of this bid.

It’s not known when representatives of the suitors will be in town this week, but they’ll tour the Canadian Tire Centre and have the chance to visit the parcel of land at LeBreton where a new rink is expected to be built once the organization gets a lease in place.

They’ll also have the opportunity to meet with Erin Crowe, the club’s chief financial officer, Anthony LeBlanc, the club’s president of business operations, and possibly general manager Pierre Dorion to hear what the vision for this franchise is in every aspect of the business.

The improvements made to the club’s roster last summer have paid dividends for the Senators on the ice and at the box office.

Not only were the Senators six points back of the Florida Panthers for the final wildcard spot in the East heading into Tuesday night’s game against the Boston Bruins at TD Garden, the club has seen a huge increase in ticket sales this season.

Through 35 home games, the Senators have averaged 16,557 fans per-game and have surpassed the prediction of 10 sellouts this season. With six dates left in Kanata, the Senators have already sold out. 12 games and if the club can stay in the race there will be more.

During the 2019-20 campaign, which was halted because of the pandemic in March 2020, the Senators were last in the NHL with an average attendance of 12,618.

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Twitter.com/sungarrioch

https://ottawacitizen.com/sports/hockey/...enter-next-stage-of-bidding-for-senators

[harls]

Reynolds has lots of cash now after his Mint sale, buying the Sens would be but a paltry sum.

[Djeffery]

Originally Posted by harls

Reynolds has lots of cash now after his Mint sale, buying the Sens would be but a paltry sum.

He might be able to buy 25% of the team with what he clears from that.

[J.OT13]

This guy from the Canada Forum seems to think Remington wants to eventually move the team to the GTA. I disagree, but it does bother me that Remington and Reynolds are proposing a film studio in Markham when a. they may end up buying the Sens and make a series out of it and b. we've been trying to build a film studio for years.

Originally Posted by WhipperSnapper

Remington doesn't need more property in the GTA. They own hundreds of acres worth billions. An arena district on their downtown Markham holdings will increase the inflated York Region values even higher. (and they can still flip Kanata)

Ryan Reynolds in partnership with Remington is proposing a Markham connection in the largest film studio in Canada.

This forum tends to see everything in black or white. IMO, The Senators moving to Markham is extremely unlikely. My point is that I have no doubt the Remington Group bid is giving the processes in moving the team from Ottawa into the Maple Leafs territory thought. That's not something you want from new ownership.

There's 0% of an expansion team being awarded in the GTA. NHL interests are to expand territory. The only chance of a second team is to move an existing team.

[J.OT13]

Visiting the day Biden is in town. Seems less than ideal.

On Desmarais, on one hand I think it raises my interest for the Kimel bid as he has some ties to Ottawa (born here, married to Jean Chretien's daughter, donated to uOttawa), but on the other hand, he never showed interest in the DCDLS bid he was apart of, and well, was associated to the mess that was the DCDLS bid.

GARRIOCH: Suitors for Senators franchise getting up-close look at Canadian Tire Centre

The sale price is expected to eclipse $900 million U.S. and could reach as high as $1 billion.

Bruce Garrioch, Postmedia
Mar 23, 2023

The sale of the Ottawa Senators is about to move to another pivotal stage.

Sources say Jeffrey and Michael Kimel of Toronto-based Harlo Capital will be the first bidding group to visit the Canadian Tire Centre on Friday, get a look at the LeBreton Flats site where a new rink could be built and receive a presentation from senior management on where the National Hockey League franchise is headed.

Erin Crowe, the Senators’ chief financial officer, Anthony LeBlanc, Senators president of business operations, and general manager Pierre Dorion are expected to make presentations to as many as six groups that have been invited to the next stage of bidding.

They’ll be accompanied by representatives of New York-based bankers Galatioto Sports Partners, who were hired by the family of the late Eugene Melnyk to sell the franchise.

Crowe will likely talk about how the Senators have done financially in the past and where the organization is headed if it moves to a rink downtown, plus the costs associated with that project and the memorandum of understanding with the National Capital Commission.

LeBlanc is expected to speak about the rise in season-ticket sales, the work that has to be done to continue that trend and the organization’s work in the community to enhance its brand. He’ll also touch on corporate sponsorships and marketing aspects.

Dorion’s role will be to address what’s happening on the ice.

The organization has undergone a full rebuild and the core pieces for future success have been put in place through drafting and development. This team is built around captain Brady Tkachuk, Tim Stutzle, Drake Batherson, Josh Norris, Thomas Chabot, Jake Sanderson and newly acquired Jakob Chychrun.

A lot of the heavy lifting has been done. The Senators have pushed for an Eastern Conference playoff spot this spring and, though the odds against that are long, the organization has delivered on its promise to play meaningful regular-season games in March.

Don’t read anything into the fact that the Kimels and their representatives will be receiving the first presentation. These aren’t being done in any particular order, but it’s interesting to note that the former part-owners of the NHL’s Pittsburgh Penguins may have brought a heavy hitter on board.

Talk is that PowerCorp’s André Desmarais, who was part of the DCDLS bid for redevelopment of LeBreton Flats in 2015, has joined the Kimels as a partner. He could be in for as much as 25 per cent of the purchase, but this hasn’t been confirmed.

Desmarais has always been interested in owning the Senators and held talks with Eugene Melnyk in 2013, but those didn’t go anywhere.

This time Desmarais doesn’t want to do it on his own, and he has a good relationship with NHL commissioner Gary Bettman. The presence of Desmarais would help strengthen the Kimels’ bid for the team.

The Senators are also expected to make presentations to The Remington Group, led by Markham-based developer Christopher Bratty and including Vancouver-born actor Ryan Reynolds. Reynolds is not expected to be part of the meetings in Ottawa, but would play a major role with the franchise.

Toronto billionaire Michael Andlauer, a part-owner of the Montreal Canadiens, Windsor-based developer Rocco Tullio and Los Angeles-based producer Neko Sparks also made competitive bids. Graeme Roustan, owner of The Hockey News, has reportedly made a bid with a First Nations Group, but that hasn’t been confirmed.

Once the meetings are completed, GSP will give the groups time to assess everything they’ve heard and make final bids. The sale price is expected to eclipse $900 million U.S. and could reach as high as $1 billion.

It’s not expected that we’ll know the identity of the new owners of the Senators franchise will mid- to late April.

Postmedia has also been told that Farm Boy CEO Jeff York is closing in on raising $100 million through a limited partnership opportunity to invest with the winning bidder.

This newspaper reported last month that York had held a call with more than 40 local business people seeking 20 investors to purchase shares at $5 million each, and it sounds like that is close to being fully funded.

Talk is that York is aligned with Andlauer, but we were told Thursday that York could take his group’s investment to whichever bid is successful.

Speaking to Roustan in December in an interview with The Hockey News, Sal Galatioto said the groups that reached this stage of the bidding would have been vetted and would be serious contenders.

“I spend an enormous time vetting people to make sure that not only do they have the money, but also that they’re acceptable to the seller and the league,” Galatioto said “The league will approve or not approve anybody, if it’s the NHL for instance, before I can send out one shred of information. If you’re not approved by the league, you’re not getting it.

“I won’t send anybody to the league if I think there’s not a chance … I do advise the seller that the league may have a problem with this person and I’m not putting them in a position where this may get turned down. That’s never going to happen. Not on my watch.”

https://ottawasun.com/sports/hockey/nhl/...ng-up-close-look-at-canadian-tire-centre

[harls]

Originally Posted by Djeffery

He might be able to buy 25% of the team with what he clears from that.

Yeah, but he has gobs more money. This sale just added it to the pile.

Having him as a face of the franchise (or a backer) would likely generate a lot more interest than others, just with his sheer star power. After all, hockey is entertainment.. right?

He was spotted at a game in Kanata not long ago and CTV positively orgasmed over it.

[J.OT13]

Originally Posted by harls

Yeah, but he has gobs more money. This sale just added it to the pile.

Having him as a face of the franchise (or a backer) would likely generate a lot more interest than others, just with his sheer star power. After all, hockey is entertainment.. right?

He was spotted at a game in Kanata not long ago and CTV positively orgasmed over it.

Yeah, back in November.

I agree, he brings so much more to the table than money. The value of him as an owner might be worth tens of millions on its own in exposure. That's before the TV series he's proposing. I hope it factors into the NHL's decision.

[rocketphish]

There could be potential buyers in the stands this week watching the Senators

Bruce Garrioch, Ottawa Citizen
Published Mar 25, 2023 • Last updated 12 minutes ago • 1 minute read

Be loud and proud Ottawa hockey fans because you could be under the microscope.

The Senators will kick off a three-game homestand Monday night, and we’re told as many as four of the groups interested in purchasing the National Hockey League franchise could be in the Canadian Tire Centre at various times this coming week after receiving presentations from senior team management.

As Postmedia reported, Jeffrey and Michael Kimel of Toronto-based Harlo Capital were in town Friday to meet with chief financial officer Erin Crowe, president of business operations Anthony LeBlanc and general manager Pierre Dorion to get more insight on the franchise.

It’s not known exactly which other bidders will visit Ottawa. Representatives of the Markham-based Remington Group, led by Christopher Bratty, along with Rocco Tullio, owner of the Ontario Hockey League’s Oshawa Generals, are expected to be among them.

We also believe Toronto billionaire Michael Andlauer, Los Angeles-based producer Neko Sparks and an unnamed First Nations Group have also made bids for the franchise.

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Twitter.com/sungarrioch

https://ottawacitizen.com/sports/hockey/...e-stands-this-week-watching-the-senators

[rocketphish]

The big 3 Ottawa Senators unknowns: The arena, the owners, and the money
As Bettman comes to town, mayor floats city lands as arena alternatives to LeBreton

Joanne Chianello · CBC News
Posted: Mar 27, 2023 4:00 AM EDT | Last Updated: 3 hours ago

We may not get to spend the spring cheering the Ottawa Senators in the NHL playoffs, but the capital will still be hockey-crazed over the next few months.

That's because after years of strained fan-owner relations, the spectacular failure of a downtown arena redevelopment plan and even a threat to relocate the team, a new start for the Sens is crossing the blue line.

The team is officially for sale after Eugene Melnyk died last year, with a new owner expected to be announced next month. His daughters, who currently own the team, have a signed —but not binding — agreement to build a new arena on LeBreton Flats.

To kick off the season of Sens mania, the NHL's top brass are arriving this week in the nation's capital.

Commissioner Gary Bettman and deputy commissioner Bill Daly touch down today. They're scheduled to meet with Mayor Mark Sutcliffe, National Capital Commission (NCC) CEO Tobi Nussbaum and chair Marc Seaman before chatting up reporters and taking in the home game against the Florida Panthers.

Cue the speculation on the identity of the new owners, tentative dreams of a downtown arena, and a contentious debate on the use of public funds to build it.

Questions abound about who's bidding for the team, and Bettman himself has said there's been interest from multiple groups.

It's no secret that golden boy Ryan Reynolds is involved and has reportedly teamed up with Toronto-area developers The Remington Group. Both Bettman and Daly have indicated the movie star's involvement could be a huge boon to both the franchise and the league.

Toronto billionaire and minority Montreal Canadiens owner Michaal Andlauer has put in a bid, as have the Kimel brothers of Harlo Capital, according to both CBC sources and other news outlets. Like Andlauer, Jeffrey Kimel is already involved in the NHL as a member of the Pittsburgh Penguins' management committee.

According to The Athletic, Los Angeles-based AI entrepreneur Neko Sparks is making a bid — and even retweeted a post by that publication about his interest in the Sens.

Locally, CBC has learned of at least three parties involved in larger bids: the Malhotra family of Claridge Homes; Jean-Pierre Poulin of Devcore; and Jeff York of the Farm Boy grocery stores.

It's not clear what groups these local players are part of, or whether some members of the bidding teams are moving around.

With the Sens expected to cost more than $800 million — and NHL brass trying to talk up the price tag even further — the new owners are expected to be a consortium led by a deep-pocketed tycoon from afar that includes local minority shareholders to provide some hometown flavour.

Although the sale process is being run by New York investment bankers Galatioto Sports Partners, Bettman is sure to give reporters some indication as to when the winning bidder will be announced.

So far, it's looking like the big reveal will be next month, with a signed-on-the-dotted-line deal finalized later this year.

Perhaps even more exciting for hockey fans than the identity of the new owners is the potential for a new arena.

The Capital Sports and Entertainment Group (CSEG), which owns the Senators, inked a memorandum of understanding with the NCC last year over an arena at LeBreton Flats. Their partners include Live Nation Entertainment, the parent company of Ticketmaster.

The proposal would see a major events centre, with additional mixed use development, on a 2.6-hectare site along Albert Street, between Preston Street and City Centre Avenue.

The NCC is hoping to sign a lease this fall, although that could be delayed with new owners in place. But this is not a done deal, as there's nothing compelling the team's future purchasers of the team to go through with the LeBreton deal.

NHL executives have signalled for years that they want the Sens to move to a home in the city's core. The Canadian Tire Centre is one of the few remaining suburban arenas in the league and is inconvenient for many fans.

But they've also been broadcasting mixed messages about whether a downtown arena necessarily means one at LeBreton Flats.

Earlier this month in Florida, Bettman said that the sale of the team wasn't tied to a new arena and that it would be up to the new owners how to proceed. Still, he added that he believed LeBreton Flats is a "good opportunity for somebody who's interested in possibly moving downtown."

However, in February, Daly told The Bob McCown Podcast that there "may be bids that don't have Lebreton Flats as part of their future projection for this franchise.

"I think it's certainly a relevant part of the mix," he said. "But I don't think it's an essential element."

A LeBreton Flats arena is likely not a huge deal for the NCC, as its masterplan for the 29-hectare site makes it clear a major events centre would be nice but isn't a must-have.

If the new owners give LeBreton a pass, the masterplan calls for mixed-use development along the Albert Street corridor, adjacent to the new central library. That would end any chance to put an arena there in the future.

So if not LeBreton, where?

The Sens could stay in Kanata, and new owners could try to work around existing issues. Transit is a tough one: the $1.8-billion LRT Stage 3 out to Kanata is just a concept at this stage, completely unfunded and likely a decade away if it ever gets built.

There are also large enough areas in the central part of the city that are publicly owned. Think Bayview Yards, the city's financially disastrous baseball stadium, even lands near the Hurdman LRT station.

These were rumoured alternate locations for weeks until last Thursday, when the mayor suggested them as possible alternative locales on TSN1200.

Sutcliffe pointed out that downtown-adjacent LeBreton Flats is "not walking distance from Elgin Street for most people," and the area isn't built up yet. (Of course, the city-owned properties the mayor did mention are also not in the middle of any existing entertainment districts and are farther from the core than LeBreton.)

Sutcliffe told the sports radio station that while he'd be happy if a new arena was built at LeBreton, it's also "not the only location."

All this brings us to the most contentious question around the Sens sale, and the issue we'll be talking about the most intensely in coming months: how much public money should go toward the new arena?

In NHL markets other than the very largest — think Toronto, Vancouver, New York — owners get an assist from local governments.

"If you're in a centre smaller than two million people, you probably have to have a blend of private and public money to get it done," said Glen Hodgson, a fellow with the C.D. Howe Institute and former chief economist at the Conference Board of Canada.

Hodgson, who co-authored the book Power Play: The Business Economics of Pro Sports, wrote in a recent paper for the institute that an arena would ideally be "completely privately financed and operate profitably" through ticket sales for game, concerts and other events — and also related real-estate development.

But in smaller markets, "the private sector's financial capacity and taste for risk are more limited," Hodgson wrote, especially as brand new arenas can cost as much as a billion dollars.

In Edmonton, for example, the city contributed $226 million to a new arena, which it owns, that was paid for by property taxes from rink-related development and parking. (If that sounds familiar, it's because it's similar to Ottawa's financing deal for Lansdowne, which a decade later needs a $332-million injection.)

Until very recently, Sutcliffe has been staunchly against any direct municipal funding of a new arena, both during the 2022 election campaign and in an email to CBC in December, when he wrote that he didn't "support a cash contribution from the city of Ottawa."

But last week, with the reality of a deal possibly just weeks away, the mayor's stance on public funding was starting to waver, if just a little.

"I'm not a fan of putting city money into an arena, but it depends on so many factors," he told reporters. "I think it's too early to have that conversation."

The mayor will likely touch on that today in his meeting with Bettman, and he'll be under some pressure to give some city help. Sutcliffe said that from what he heard while campaigning, there are "a lot of people who want to see a more centrally located arena and feel that's in the best interest of the city … so the city's got a role to play in this."

Exactly what that role will be is one of the biggest question marks around this entire deal. And the mayor's injection of using public lands has just raised the stakes even more.

https://www.cbc.ca/news/canada/ottawa/bettman-daly-arrive-ottawa-big-senators-questions-1.6791805

[J.OT13]

Anyone else cringe at this line?

The team is officially for sale after Eugene Melnyk died last year

Seems "passed-away" would be more respectful.

There were definitely some tensions between fans and Melnyk in the later years, but he did save the Senators and kept them in Ottawa. He was generous to the community. He stuck around despite Watson's continued efforts to shut-him out (Kanata stadium and MLS team proposal, the casino file, taking Ruddy's side on the LeBreton collapse).

I hope that the new arena will include a life-size statue of Melnyk, possibly of him at a skates for kids event. I think he's deserving of that honour.

[rocketphish]

Originally Posted by J.OT13

Anyone else cringe at this line?

Seems "passed-away" would be more respectful.

I, for one, despise the euphemisms "passed away", "passed", etc. Passed? Where are they headed? I didn't seem them go by.

Why try to hide the fact that somebody died? Dying isn't (usually) an unnatural event... we're all going to do it one day. Melnyk died, plain and simple. It's a pretty unambiguous word.

[J.OT13]

Originally Posted by rocketphish

I, for one, despise the euphemisms "passed away", "passed", etc. Passed? Where are they headed? I didn't seem them go by.

Why try to hide the fact that somebody died? Dying isn't (usually) an unnatural event... we're all going to do it one day. Melnyk died, plain and simple. It's a pretty unambiguous word.

Passed-away is better than "crossed-over", with heavy religious connotations. In French, I prefer "décédé" over "mort".

Reminds me of the King of the Hill episode where Hank asks Cotton about his old war buddies.

Hank: "What about Fatty?"
Cotton: "Dead!"
Hank: "What about Topsy?"
Cotton: "Dead! All dead!!"

Seems crude and uncaring.

We all have different sensitives and triggers. Not taking out my pitchfork over this though.

Back on topic, I'm surprised the media didn't catch a glimpse of the Kimels or however was here on Friday to visit the CTC and LeBreton. I imagine we'll see more coverage of the Bettman/Daly visit today.

[phil235]

Originally Posted by J.OT13

Anyone else cringe at this line?

I actually cringed at this one instead:

"That's because after years of strained fan-owner relations, the spectacular failure of a downtown arena redevelopment plan and even a threat to relocate the team, a new start for the Sens is crossing the blue line."

I guess it's nice that a non-sports writer attempted a sports metaphor, but nobody told her that crossing the blue line isn't really the one she wanted?