Sens army HQ

[J.OT13]

GARRIOCH: Senators honour the memory of Eugene Melnyk with unveiling of banner

Bruce Garrioch, Postmedia
Oct 20, 2022

Somewhere, up there in the heavens, the late Eugene Melnyk has a front row seat for every Ottawa Senators’ game with Bryan Murray in the closest easy chair.

Before dropping the puck against the Washington Capitals Thursday night, the Senators honoured the memory of the club’s late owner, who passed away in March at 62-years-old after a lengthy illness, with a touching video that highlighted Melnyk’s accomplishments on and off the ice.

Anne and Olivia took part in the ceremonial faceoff at centre ice and in the video that also talked about his charity work.

Then, the organization unveiled a banner in the rafters of the Canadian Tire Centre with the Melnyk’s initials to remember the man who saved the franchise in 2003.

“My dad was very passionate about winning. It was his No. 1 priority when he owned the Senators,” Anna said in the video. “He also loved being part of the community and inspiring kids … He was also the best dad ever. Family was his No. 1 and the Senators were a close second.”

After Melnyk’s passing last spring, the Senators wore the patch with his initials on their jersey for the balance of the season. The banner, which has “EM” in white on a black background with a red flag, is way to retire the patch and honour the commitment he made to this city.

When Rod Bryden handed the keys over to the NHL, anybody that expressed interest wanted to put this franchise on wheels and move it elsewhere. NHL commissioner Gary Bettman was determined to keep the team in Ottawa and Melnyk was the right person at the right time.

All Melnyk ever wanted was to a win a Stanley Cup. The club came close by going to the final against the Anaheim Ducks in 2007, he chased that dream right up until the day he passed. The decision to go into a full rebuild in 2018 wasn’t easy but he felt it had to be done.

He heard a lot of criticism when GM Pierre Dorion moved key players for young assets, but the work done for the past five years is about to pay dividends. The plan was to surround the young core with better players this season and we saw those moves in the off-season.

Those closest to him would tell you he’d love to be part of this but he’d also be thrilled Anna and Olivia are here to carry on the family legacy.

This was one of the busiest off-seasons in franchise history. Not only did Dorion acquire Alex DeBrincat, sign Claude Giroux and deal for goalie Cam Talbot, the Senators also learned former captain Daniel Alfredsson will be inducted into the Hockey Hall of Fame next month.

The club also won preferred bidder status to build a new arena at LeBreton Flats. Erin Crowe, the club’s chief financial officers, and Anthony LeBlanc, Ottawa’s president of business operations, have been working regularly with National Capital Commission officials.

Crowe, LeBlanc and Dorion report to a three-person board that was put in place to run the franchise by Melnyk. Sheldon Plener, a Toronto-based lawyer, along with alternate governor Larry Zeifman and consultant John Miszuk are helping to run the franchise on behalf of the family.

The No. 1 goal was re-invigorate the brand of the franchise. That has been achieved with improvements on the ice. Now, they’ve got 11 months to get a lease in place for LeBreton Flats and that work is continuing daily behind the scenes.

Two weeks ago, representatives of the partners in the LeBreton project were in town to meet with LeBlanc, Crowe and NCC officials.

My guess is they’ll be watching the results of the municipal election Monday closely because at some point I would guess they’ll have to sit down with whoever replaces outgoing Mayor Jim Watson in the coming months to discuss whatever role the city will play in the LeBreton project.

The mayor of Ottawa has a seat on the NCC’s board of directors so the city is going to be involved one way or another.

There have been no decisions made on the future of the franchise. After the board of governors meeting Monday in New York, Bettman told reporters the organization was operating normally and there’s been no disruption to the business.

Anna and Olivia are taking advice from their mother, Laura, financial advisors put in place by Melnyk along with independent council to determine next steps. He didn’t just own the Senators, there’s several other businesses, including a line of beauty care products, a concussion recovery company and real estate.

Bettman and the league have been respectful of the fact Anna and Olivia are grieving the loss of their father. The NHL wants them to have as much time as they need to determine what’s next and the annual Melnyk Skate for Kids will return during the holiday season.

“He passed the passion of hockey down to us,” Olivia said about her father. “We’re hoping that will continue for a long time and I don’t think that’s something that ever leaves you. We’re very excited for the season ahead.”

https://ottawasun.com/sports/hockey/nhl/...f-eugene-melnyk-with-unveiling-of-banner

[AuxTown]

I thought the banner was a weird move. I fully expected to honour their former owner with a ceremony but I don't know if other organizations have lifted a banner to the rafters for their deceased former owner. I guess we have to hang something up there....

[J.OT13]

Originally Posted by AuxTown

I thought the banner was a weird move. I fully expected to honour their former owner with a ceremony but I don't know if other organizations have lifted a banner to the rafters for their deceased former owner. I guess we have to hang something up there....

Whatever happened to the ring of honour? They made a big deal about that years ago, inducted Murray, and then nothing.

[phil235]

Originally Posted by AuxTown

I thought the banner was a weird move. I fully expected to honour their former owner with a ceremony but I don't know if other organizations have lifted a banner to the rafters for their deceased former owner. I guess we have to hang something up there....

I was at a game in Columbus this year. They have a banner for McConnell, their deceased owner. (Although arguably beyond Rick Nash, they really have nothing else to hang.)

[J.OT13]

GARRIOCH: Report indicates the Ottawa Senators may be putting up a 'For Sale' sign soon

Bruce Garrioch, Post Media
Nov 01, 2022

Are the Ottawa Senators about to put up a ‘For Sale’ sign at the Canadian Tire Centre?

According to a report, the franchise may be headed in that direction.

In an article released Tuesday morning on the value of all 32 NHL teams, Los Angeles-based Sportico reported the Senators’ board of directors have “already interviewed self-side bankers” and “there is significant interest in the franchise”.

“The Ottawa Senators are widely expected to be the next team to sell,” the article stated.

A spokesperson for the Senators said the organization has no comment on the report.

For those who don’t know, “self-side bankers” are advisors to the board of directors running the team on behalf of the Melnyk family. Those bankers would act as intermediaries to solicit bids which means they essentially act as a real estate agent for the team.

This is the first time since the passing of Senators’ owner Eugene Melnyk there has been any talk publicly the team may be sold. The franchise is part of the massive estate Melnyk left to his daughters, Anna and Olivia, and it has been operating business as usual since his death in March.

The report valued the franchise at $655 million (all figures U.S.), a rise of 21% from last year, but league sources told this newspaper that figure isn’t even close to what the franchise will be worth if the Melnyk family does decide to sell a portion or all of its stake in the team.

The Nashville Predators are about to sell for $775 million and the Seattle Kraken paid $650 in an expansion fee to get into the league. That means the value of an established Ottawa franchise will be much higher than the $655 million label that Sportico put on it.

In June, the Senators won preferred bidder status from the National Capital Commission to build a new rink at LeBreton Flats. The organization signed a memorandum of understanding with the NCC at the time and now has until next September to get a lease in place for the land.

That work to finalize the rink bid is continuing daily behind scenes

Last month, representatives of the partners in the LeBreton project were in town to meet with Anthony LeBlanc, the club’s president of business operations, chief financial officer Erin Crowe and NCC officials. Former Senators’ defenceman Chris Phillips, the club’s VP of business operations, has also played a role in the bid at LeBreton.

The partnership includes Sterling Project Development, Populous, Tipping Point Sports and Live Nation. All are well-funded and have experience in building rinks. NCC chief executive officer Tobi Nussbaum noted the depth of the club’s partnership group gave the Senators the edge.

If the lease is in place then you have to think this team will sell for closer to the $900 million to $1 billion range if the Melnyk family determines it wants to go that route. If they want to hold onto the team, they will need a partner to help them build the rink.

It’s possible one of those partners in the LeBreton bid may be among the interested parties if the Senators do go up for sale.

Of course, this is going to set off speculation of who’s interested but it’s not even known if the Melnyk family has made any firm decision.

Local businessman Roger Greenberg told CTV Ottawa in the weeks after Melnyk’s death he was interested in being involved with a group. He’s a partner in the Ottawa Sports and Entertainment Group which owns the CFL’s Ottawa RedBlacks and the OHL’s Ottawa 67’s.

There’s been talk in local business circles Farmboy executive Jeff York has met with NHL deputy commissioner Bill Daly and has a group in place. He was part of the other bid with Andre Desmarais of Power Corp. at LeBreton Flats in 2016.

We’ve heard these local names before but it wouldn’t surprise anybody if the team is sold it will be to people based in Toronto or the United States.

Still, this is all speculation because we don’t even know if the franchise is up for sale.

Anna and Olivia Melnyk have been doing their due-diligence before determining what’s next.

The Melnyks are taking advice from mother, Laura, the club’s financial advisors along with independent council to determine next steps. Their father didn’t just own the Senators, there’s several other businesses, including a line of beauty care products, a concussion recovery company and real estate.

NHL commissioner Gary Bettman and the league have been respectful of the fact Anna and Olivia are grieving the loss of their father. The NHL wants them to have as much time as they need to determine what’s next and the annual Melnyk Skate for Kids will return during the holiday season.

The organization is being run by LeBlanc and Crowe on the business side while general manager Pierre Dorion is in charge of the club’s hockey operations.

The trio report to Sheldon Plener, a partner in the business law group at Cassels, longtime business associate Lawrence Zeifman and John Miszuk, the Senators’ chief administrative officer, have been directing the team since Melnyk passed away.

Plener and Ziefman had been with Melnyk for several years. The league office keeps in touch with Plener on a regular basis because he’s the executor of Melnyk’s estate.

[email protected]

Twitter.com/sungarrioch

https://ottawasun.com/sports/hockey/nhl/...s-may-be-putting-up-a-for-sale-sign-soon

[J.OT13]

I somewhat hope that the Melnyk's don't sell outright. It would be nice to see them keep a stake in the franchise. That said, having a local like Greenberg (which would be ironic if the franchise was part of OSEG considering the Melnyk v. Ruddy rivalry) or York could have a stake. And/or former Ottawa Senators players such as Alfie or Phillips. Having any sort of local connection would keep a lot of our minds at ease.

[daud]

Originally Posted by J.OT13

I somewhat hope that the Melnyk's don't sell outright. It would be nice to see them keep a stake in the franchise. That said, having a local like Greenberg (which would be ironic if the franchise was part of OSEG considering the Melnyk v. Ruddy rivalry) or York could have a stake. And/or former Ottawa Senators players such as Alfie or Phillips. Having any sort of local connection would keep a lot of our minds at ease.

I hear Lonnie Glieberman is interested.

Seriously though, if Laliberte and Desmarais are still in the bidding, they'll win it. They have more equity and OSEG has its hands full with lansdowne, but who knows!

[J.OT13]

Originally Posted by daud

I hear Lonnie Glieberman is interested.

Seriously though, if Laliberte and Desmarais are still in the bidding, they'll win it. They have more equity and OSEG has its hands full with lansdowne, but who knows!

Desmarais wouldn't be too bad. He does have some links to Ottawa.

[J.OT13]

Franchise values according to Sportico.

https://www.sportico.com/feature/nhl-team-values-ranking-list-1234693065/

Of note, Sens value rose 21% year over year, leading the NHL. Next highest appreciations were Florida, Columbus and Nashville, at 14%. We went up two spots to #27, ahead of Buffalo and Carolina. We're still way below the average worth of just over $1 Billion.

[J.OT13]

Now, it's apparently "official".

Ottawa Senators 'officially for sale:' report

Michael Woods, November 1, 2022
CTV News Ottawa

The Ottawa Senators have retained a bank to explore a sale of the team, sports business publication Sportico is reporting.

Late owner Eugene Melnyk’s family has hired Galatioti Sports Partners, a New York-based bank that provides advisory services to the sports industry. Sportico cited multiple people familiar with the plans, who were granted anonymity because the details are private.

Melnyk’s daughters Anna and Olivia took over the Senators after their father passed away in March due to illness. The franchise is being run by a three-person board of directors.

A Senators spokesperson told CTV News the organization has no comment on the report.

Sportico valued the Senators at $655 million U.S., a 21 per cent jump in the past year, the largest in the NHL.

It’s unclear how much the team would fetch in any potential sale. The Pittsburgh Penguins sold for a $900 million U.S. last year. The Nashville Predators are set to sell for $775 million U.S.

There is reportedly significant interest in the Senators. Roger Greenberg, the executive chairman of Minto Group and the Ottawa Sports and Entertainment Group, told CTV News in April his family would “likely participate” in new ownership if the team goes up for sale. OSEG owns the Redblacks and 67's.

In June, the Senators and the National Capital Commission reached a memorandum of understanding to build a new arena for the team at LeBreton Flats, just west of downtown Ottawa.

Members of Galatioto Sports Partners have been involved in more than 100 transactions for major North American and international sports franchises, according to its website.

Sportico launched in June 2020 and calls itself “the default resource for professionals seeking the latest and highest quality news and information in the $500 billion worldwide sports industry.”

https://ottawa.ctvnews.ca/ottawa-senator...FKLbvbm9Oi4MlEV1awADYKhX_wPSRF95jQlxGb9g

[rocketphish]

Ottawa Senators won't comment on report saying team could soon be for sale
NHL team hires sports banking firm to facilitate sale, says report

CBC News
Posted: Nov 01, 2022 2:03 PM ET | Last Updated: 2 hours ago

The Ottawa Senators are not commenting on a report published Tuesday that said the team's board of directors are lining up for a potential sale, months after the passing of owner Eugene Melnyk.

Los Angeles-based Sportico reports the Sens have hired Galatioto Sports Partners (GSP), a sport banking firm that acts as an arranger in sales of professional sports teams — like a real estate agent.

A spokesperson for the Ottawa Senators said the organization would not comment on the report.

Bruce Firestone, the team's founder, said via text it's probably time for a change.

"With the team on the upswing, there will likely be quite a bit of interest. My hope is that a local group will take over and I've spoken with a few who may participate," he said.

Firestone declined to offer more details about those local groups.

GSP president Sal Galatioto declined to comment. His company boasts that its staff have "acted in the capacity of financial advisor, arranger, agent, underwriter or participant in over 100 transactions and assignments in the major North American and international sports leagues."

There has been more traction of a potential sale of the Senators since the death of owner Eugene Melnyk, who left the team to his two daughters, Anna and Olivia.

The franchise has been run on their behalf by a board of directors for the past several months.

In May, NHL commissioner Gary Bettman said Melnyk's daughters will have to ultimately decide how they want to proceed.

"The franchise is being professionally run," Bettman told reporters. "The club's not on the market. There's no urgency. The club's not unstable. There are no problems."

It is still possible the Melnyk sisters want to retain a stake in the team their father loved.

https://www.cbc.ca/news/canada/ottawa/ottawa-senators-for-sale-soon-report-says-1.6636780

[OTownandDown]

Can anyone say if this means the team will move?

[bartlebooth]

Originally Posted by OTownandDown

Can anyone say if this means the team will move?

They won't move. All reporting indicates they are staying in Ottawa. Historically, Bettman has been reluctant to move teams (look at Arizona), especially in a proven hockey market like Ottawa.

[Tesladom]

If Melnyk & Ruddy would have not screwed up the Rendez-vous Lebreton proposal, this franchise would be worth $1Billion. With the new arena plan, the Sens basically walked away from the real estate development plan (estimated at $5Billion) at Lebreton, instead they only have the 7 acre parcel.

The hockey and the arena is a loss leader to attract other commercial and residential development in the area. Sadly the Sens do not have any of this under the new proposal. I think this greatly diminishes the franchise value, and interest for potential buyers

[phil235]

Originally Posted by Tesladom

The hockey and the arena is a loss leader to attract other commercial and residential development in the area. Sadly the Sens do not have any of this under the new proposal. I think this greatly diminishes the franchise value, and interest for potential buyers

Absolutely there was more value in the larger real estate deal that they had in 2016, but I think you are underestimating the value of an NHL franchise. Franchise values are based on a combination of factors, a big part of which are league wide revenue streams. The minimum seems to be about half a billion dollars these days, and a team in a Canadian market with a new arena is going to be well north of that. I've heard anywhere from $650 to 900 million as estimates of the Sens' value, so that indicates a pretty healthy market.

[rocketphish]

Multiple possibilities for new Senators owners, not all of them in Ottawa

Bruce Garrioch, Ottawa Citizen
Nov 02, 2022 • 6 minutes ago • 4 minute read

Several potential bidders have already thrown their hats into the ring to purchase the Ottawa Senators.

League sources say there will be multiple groups interested in buying the Senators once they’re formally put up for sale by Anna and Olivia Melnyk in the next month or so.

The Melnyk daughters are expected to keep a piece of the team out of respect for their late-father Eugene, who passed away in March after a lengthy illness.

While it will likely be a month before New York-based sports banker Galatioti Sports Partners officially begin speaking to potential Senators’ suitors, a league executive told this newspaper “there will be multiple groups” making a pitch.

NHL commissioner Gary Bettman may already have someone in mind, but the organization has to go through the due-diligence process and make sure there’s somebody who’s willing to put their money where their mouth is once they’ve expressed an interest.

Here are some names this newspaper believes you should keep an eye on in the coming months:

Sources say Jeffrey and Michael Kimel, who used to own a minority piece of the Pittsburgh Penguins before they sold to the Fenway Sports Group last year, have already expressed an interest in purchasing the Senators and being part of the LeBreton Flats project.

The Toronto-based brothers are on the board of the Harlo Financial Group, which invests in real estate, wealth management, and the entertainment industry. Michael Kimel is the head of the Chase Hospitality Group.

Michael Kimel recently founded OverActive Media, which invests in e-sports, and he also served on the management committee of the Penguins.

The Kimel family has the financial wherewithal to make a deal and the knowledge needed to help build LeBreton but they’re hardly alone on that front.

Another person who has been the subject of speculation is Toronto billionaire Michael Andlauer.

The owner of the OHL’s Hamilton Bulldogs also has a 20 per cent share in the Montreal Canadiens, and is said to covet controlling interest in his own NHL team. He’s also highly respected by Bettman and deputy commissioner Bill Daly.

The owner of the Andlauer Group, which owns transport and logistics companies in Canada, he may have kicked the tires on the Ottawa franchise in the past.

Andre Desmarais of Montreal-based Power Corp, who had a link with the other group bidding for LeBreton Flats in 2016, may also dip his toe in the water.

The billionaire is close friends with Bettman and has expressed an interest in buying the Senators before.

Though we’ve heard that groups are interested locally, those with knowledge of the inner workings of the league don’t believe anybody based in Ottawa has the ability to do a deal of this size on their own, which means they’d have to be part of a larger group.

The deal could be worth between $700 million and a billion dollars (U.S.), once completed. The Penguins recently sold for $900 million and the Nashville Predators are on the verge of $775 million sale.

There will be lots of speculation about potential local buyers in the coming months. While Minto’s Roger Greenberg has stated publicly he’d like to be part of a group to buy the team, it will have to be one that has a lot of money behind it.

A league executive told this newspaper Wednesday he believes the next owner of the Senators will either be based in Toronto or in the United States. Bettman wants to keep this team in Ottawa, especially with the potential for a downtown arena on the horizon.

Why is this happening now?

The clock is ticking on a 15-month window to get a lease in place at LeBreton Flats. Even if the Melnyk family wanted to hang onto the ownership of the franchise, they would need a partner to help them finance the new rink located 10 minutes west of downtown.

A new owner could also come from the group of partners that are involved in the LeBreton bid. Those include Sterling Project Development, Populous, Tipping Point Sports and Live Nation.

Making this decision now will ensure the new owner can be involved in the negotiation process with the National Capital Commission before it’s completed. Anthony LeBlanc, the club’s president of business operations, and Erin Crowe, the chief financial officer, continue to handle those talks.

Newly elected Mayor Mark Sutclliffe can expect a call from Crowe and LeBlanc regarding the LeBreton bid, as the city of Ottawa is expected play a role in the development of the rink.

The Senators may look to model the project after the Ice District in Edmonton, where the city and the province of Alberta both provided funding for the arena. The sense is Sutcliffe is at least willing to listen to any proposal.

Stay tuned, the next eight-to-10 months will be interesting.

[email protected]
Twitter.com/sungarrioch

https://ottawacitizen.com/sports/hockey/...wcm/44c1afbf-35b1-4a73-b084-f165fcf0ea74

[JHikka]

Interesting group of potential owners. I don't know if I really have a favourite or preferred option at this stage - I suppose a lot of that will come down to how each group prefers a LeBreton rollout and what they have in mind. $700M-$1B seems fair for the team but i'd imagine it would be closer to the Nashville number than the Pittsburgh number. Who knows.

[J.OT13]

Originally Posted by Tesladom

If Melnyk & Ruddy would have not screwed up the Rendez-vous Lebreton proposal, this franchise would be worth $1Billion. With the new arena plan, the Sens basically walked away from the real estate development plan (estimated at $5Billion) at Lebreton, instead they only have the 7 acre parcel.

The hockey and the arena is a loss leader to attract other commercial and residential development in the area. Sadly the Sens do not have any of this under the new proposal. I think this greatly diminishes the franchise value, and interest for potential buyers

Building an arena in 2018-2019 would have been far cheaper and having nearly the entire site to redeveloped would surely have helped financing.

That said, the proposal will still include several towers, which will make the project far simpler than the previous scheme. The Sens also have experienced backers this time around, so I'm a little more optimistic.

The new arena will also be the only big venue in town, attracting all sort of major sporting events and concerts the Corel Centre cannot. The demise of the Civic Centre also removes the only true competition from within the city.

Worth noting that the Molson Centre, Air Canada and GM Place were all built as stand alone arenas by NHL team owners in the 90s. They've only really started building around over the last decade or so. The Sens arena will have those corner towers to bolster the development right off the bat.

The Melnyk daughters are expected to keep a piece of the team out of respect for their late-father Eugene, who passed away in March after a lengthy illness.

Very happy to hear that.

As I mentioned before, I hope some locals are at least part of a deal to buy the Sens, or Sens alumni, and I would of course prefer a Canadian ownership group over American.

[rocketphish]

Ryan Reynolds interested in buying the Ottawa Senators, according to PEOPLE magazine

Bruce Garrioch, Ottawa Citizen
Nov 02, 2022 • 5 minutes ago • 1 minute read

Hooray for Hollywood!

Deadpool actor Ryan Reynolds, a Vancouver native, is interested in purchasing the Ottawa Senators and his top priority is to keep the team in the nation’s capital, according to a report Wednesday night in PEOPLE magazine.

“Ryan Reynolds is very interested in buying the Ottawa Senators should the NHL team ultimately be sold,” a source told the magazine.

“Beyond the business opportunity, it is important to Reynolds the team stay in Ottawa, as a sale could result in relocation.”

Representatives of the Senators or the NHL didn’t get back to PEOPLE while a spokesperson for Reynolds declined comment. He did respond to a person on Twitter Tuesday who told him the Senators were for sale with an emoji that indicated he would give it some thought.

Reynolds is an active user of social media.

PEOPLE noted that “owning a professional sports team is not uncharted territory for Reynolds. In February 2021, Reynolds and fellow actor Rob McElhenney purchased the Welsh football club Wrexham AFC.”

If nothing else, you can add Reynolds name to the ever-growing list of people interested in owning the franchise. That list will only get bigger now that the Senators have won preferred bidder status from the National Capital Commission to build a rink at LeBreton Flats.

[email protected]
Twitter.com/sungarrioch

https://ottawacitizen.com/sports/hockey/...wcm/d3e80208-1667-430a-a02b-b3cd482d5b65

[J.OT13]

Nice!