Ottawa Senators Sold For Highest Ever NHL Club Price

After a bidding war that featured a slew of high-profile names, we have a winner as the new owner of the Ottawa Senators. Toronto billionaire Michael Andlauer has reached an agreement in principle to purchase the Sens, paying a price that's more than 10 times what the team last sold for two decades ago.

The price tag: nearly One Billion USD — the most ever for an NHL franchise.

Andlauer beat out groups with splashy names like Snoop Dogg, Ryan Reynolds, and the Weeknd. 

It appears to be a great deal for the team and the city, as the ownership group includes local people in the Ottawa community. And it hasn't completely left the hands of the Melnyk family either: reports say that late owner Eugene Melnyk's daughters, Anna and Olivia Melnyk, will retain 10 percent of the franchise.

Melnyk paid $92M USD for the team back in 2003.

The 57-year-old Andlauer will have to give up his current 10% stake in the Montreal Canadiens to close the deal, and his first major piece of off-ice business for the Senators will be deciding on the location of a new arena in the Ottawa area. 

The agreement is pending the NHL board of governors approval.

Photo: Sam Navarro-USA TODAY Sports