An official statement from the SSE board of directors confirmed that it has initiated the sales process, after recently hiring Galatioto Sports Partners (GSP) to explore potential options.
Since the passing of former owner Eugene Melnyk his family has inherited ownership of the franchise. The team was bequeathed to Anna and Olivia Melnyk, however both are currently both aged under 25.
The Senators were most recently valued by Sportico at US$655 million, with the sports business publication reporting that there is ‘significant interest’ in acquiring the team.
“Galatioto Sports Partners has been retained as financial advisor and a process has been initiated for the sale of the Ottawa Senators Hockey Club,” said Sheldon Plener, chairman and governor of the Ottawa Senators.
“This was a necessary and prudent step to connect with those deeply interested parties who can show us what their vision is for the future of the team.
“A condition of any sale will be that the team remains in Ottawa.
“The organisation will have no further comment on this process at this time.”