Senators sale down to Andlauer, Kimel groups

The sale of the Senators “is now a two-horse race.” As it “heads down the stretch,” Toronto businessman Michael Andlauer “is in the pole position,” while billionaires Jeffrey and Michael Kimel of the Harlo Capital Group “have made one final push to purchase the franchise.” It is “expected an agreement in principle will be announced soon” by N.Y.-based banker Galatioto Sports Partners (GSP), the Melnyk estate and the NHL. Representatives of Andlauer and the Kimel family have each “raised their bids” to the $950M range. A part-owner of the Canadiens, Andlauer is “a beer-league goalie who loves the game and wants to bring a Stanley Cup to Ottawa.” Going into this process, Andlauer “was viewed as the frontrunner” because he sits on the NHL’s Board of Governors as an alternate for the Canadiens. He would “have to sell his share” in the Habs to become owner of the Senators. The Kimels were part-owners of the Penguins “until they sold that share” to the Fenway Sports Group in 2021 ( OTTAWA SUN, 6/10 ).