(Reuters) – Canadian transport titan Michael Andlauer has reached an agreement to purchase Ottawa Senators, the club said on Tuesday, in a deal that is pending approval from the National Hockey League (NHL).
Andlauer has a well-established history with the sport, having purchased the American Hockey League’s (AHL) Hamilton Bulldogs some two decades ago.
“I believe that the Senators’ fanbase is one of the most passionate in the league and I’m excited to take the franchise’s success both on and off the ice to the next level,” Andlauer said in a statement.
“The short and long-term future of the team is incredibly bright, and I look forward to getting to know the team, the fanbase and the community.”
The team missed the playoffs last season, with a 39-win and 35-loss record.
The announcement extinguishes any remaining hope for Hollywood actor and Wrexham co-owner Ryan Reynolds’ bid for the team.
(Reporting by Amy Tennery in New York, editing by Pritha Sarkar)
