Bruce Garrioch: With access to data room, Ottawa Senators bidding war officially under way

Deputy commissioner Bill Daly estimated last month the sale price for the Senators will be more than $800 million and could eclipse $1 billion .

Not only are the buyers getting a young team with a core in place that could contend down the road, the new owners will also guide this club through the process of building a new events centre downtown at LeBreton Flats.As this newspaper was first to report, Vancouver-born actor Ryan Reynolds and his Los Angeles-based company Maximum Effort has joined The Remington Group, a Markham-based developer led by Christopher Bratty that has pursued the ownership of an NHL team in the past.

We’re told they’ve put together a serious and comprehensive bid to purchase the team plus building the arena.Article content It’s believed in their presentation to Reynolds, the Remington Group sold him on the vision they have to turn the franchise into a winner. The idea of getting this city on the map as a destination where people will want to come and building a state-of-the-art home for the Senators.Michael Andlauer, a Toronto billionaire who owns a minority interest of the Montreal Canadiens, is considered one of the frontrunners.

Andlauer, who owns the Ontario Hockey League’s Hamilton Bulldogs, has put together a group that includes Windsor-based developer Rocco Tullio along with Burlington-based Paul and Michael Paletta of Alinea Group Holdings.They were part owners of the Pittsburgh Penguins before they sold to the Fenway Sports Group for $900 million. The owners of the Harlo Financial Group, which invests in real estate, wealth management and the entertainment industry, have also been aggressive in their pursuit.

What’s taking so long? It always seems to be delayed.

Im guessing no bidding war. Will be 2 parties in the end. And only 1 will be able to get financing. Mr Andlauer. But...thats me 🤷‍♂️

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