Senators say team for sale, must stay in Ottawa

Senators Sports & Entertainment connected Friday announced that the Ottawa Senators are for sale, with a information being that the squad indispensable stay successful Ottawa.

Team president Sheldon Plener said successful a connection that it was "a indispensable and prudent measurement to link with those profoundly funny parties who tin amusement america what their imaginativeness is for the aboriginal of the team."

Senators proprietor Eugene Melnyk died connected March 28 astatine property 62 aft battling an illness. He had antecedently said helium planned to permission the squad to his daughters, Anna and Olivia.

Any merchantability of the squad would necessitate support by NHL commissioner Gary Bettman and the league's committee of governors.

The adjacent committee of governors gathering is scheduled for December successful Florida. However, due to the fact that of the further layers involved, including a inheritance check, it is improbable that a merchantability would beryllium approved by past and alternatively would beryllium a monthslong process, sources told ESPN's Emily Kaplan.

When Alex Meruelo purchased a bulk involvement of the Arizona Coyotes successful 2019, the league included a clause successful the declaration that prevented the squad from applying for relocation for 7 years. The Senators merchantability could see a akin clause, sources told ESPN.

The Senators person retained Galatioto Sports Partners, a steadfast specializing successful the sports concern and advisory business, arsenic a fiscal advisor successful the merchantability process.

Melnyk purchased the Senators successful 2003 for $92 cardinal astatine a clip erstwhile the franchise faced bankruptcy and a tenuous aboriginal successful the nation's capital.

A caller valuation from sports-business quality outlet Sportico listed the Senators astatine $655 million.

The team's day-to-day operations has been handled by the committee of directors since Melnyk's death.

Under Melnyk, the Senators played successful the Stanley Cup last successful 2007 erstwhile Ottawa mislaid successful 5 games to the Anaheim Ducks. Ottawa astir returned to the Cup last a decennary aboriginal but mislaid the deciding crippled of the league last successful treble overtime. Since that loss, the Senators person missed the playoffs successful 5 consecutive seasons.

Ottawa is disconnected to a 4-6-0 commencement this play contempt a talented young halfway and bid of important offseason moves similar acquiring forwards Claude Giroux and Alex DeBrincat.

The squad has played astatine the Canadian Tire Centre successful Kanata since the arena opened successful 1996, but the Senators person again expressed involvement successful gathering an arena astatine a tract successful Ottawa.

The Associated Press contributed to this report.