The Ottawa Senators’ ownership group has signed a purchase agreement for the sale of the NHL team, but not with the 51-year-old rapper and entrepreneur, Senators Sports & Entertainment announced on Tuesday.
Instead, a Toronto-based entity controlled by 57-year-old billionaire Michael Andlauer will take over the ownership of the Senators, according to the organization’s statement.
The deal will give Andlauer 90% of the organization and “operational control” of the team, according to the announcement.
Andlauer’s acquisition of the team is the largest in NHL history, with almost $1 billion, according to ESPN.
Additionally, a 10 percent stake in the team will remain in the Melynk Estate, controlled by Anna and Olivia Melnyk, whose father Eugene Melnyk served as president of the Senators until his death in May 2022.
Once the NHL approves the deal and the sale is finalized, Andlauer will “take over” of the team’s operations.
In May, Snoop confirmed on Instagram that he’s partnered with Los Angeles-based business tycoon Neko Sparks to buy the hockey franchise. “What a wonderful [Neko Sparks] Snoop is trying to do it in Ottawa,” Snoop wrote, “I’m looking forward to being apart from that ownership team. I WANT TO RETURN HOCKEY TO OUR COMMUNITY.”
According to several previous reports, additional offers have come from actor Ryan Reynolds and singer The Weeknd, both of whom are Canadians.
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The Senators joined the NHL as an expansion team in 1992, but the team never won the Stanley Cup. Their only final appearance came in 2007.
This season, the Senators missed the playoffs and finished with the sixth-worst record out of 16 teams in the Eastern Conference.
In a statement to ESPN, Andlauer said, “My family and I are so excited to be a part of the Ottawa Senators Hockey Club. I believe the Senators’ fanbase is one of the most passionate in the league, and I’m excited to see the success of the series next year, both on and off the court. Level up. The short- and long-term future of the team is incredibly bright and I look forward to getting to know the team, the fan base and the community.”