A look at the ownership history for the Ottawa Senators

Sens sold to Michael Andlauer group CTV's Leah Larocque with details of the sale of the Senators to Toronto-based billionaire Michael Andlauer.

The group led by Toronto businessman Michael Andlauer becomes the fourth owner of the Ottawa Senators since the franchise returned to the ice in 1992.

Senators Sports and Entertainment announced Tuesday that it has entered into an agreement with the entity controlled by Andlauer for 90 per cent of the club and operational control.

CTVNewsOttawa.ca looks at the ownership history for the Ottawa Senators.

Bruce Firestone

Ottawa real estate developer Bruce Firestone headed the group that founded the Ottawa Senators.

The Terrace Investments group included Cyril Leeder and Randy Sexton.

On Dec. 6, 1990, the NHL awarded the franchise to the Senators, and the club hit the ice in 1992. Firestone, Leeder and the ownership group paid $50 million for the NHL franchise.

Firestone told TSN 1200 in April 2000 that there was "so much work and pressure" involved in securing the franchise, including finalizing funding to cover the expansion fee. The plans included building a new arena on farmland in Kanata, where the owners had land, but was not surrounded by homes and businesses.

Ottawa beat out Hamilton for the expansion franchise, where an NHL-sized arena was already built and open for business.

Rod Bryden

Technology executive and entrepreneur Rod Bryden became the sole owner of the Ottawa Senators in August 1993.

Bryden purchased the club from Firestone and Terrace Investments.

Under Bryden's ownership, the Senators built Palladium Arena (also known as the Corel Centre, Scotiabank Place and now Canadian Tire Centre) in Kanata. The arena opened in 1996.

The Senators made their first playoff appearance in 1997, losing in the first round to the Buffalo Sabres.

The club filed for bankruptcy protection in 2003, and reports say there were concerns the club would be unable to pay its players.

Eugene Melnyk

Eugene Melnyk purchased the Ottawa Senators in August 2003 for $130 million CDN.

Melnyk, chairman and CEO of Biovail Corporation, submitted a bid to purchase the club and the arena after the Senators entered bankruptcy protection earlier in the year.

The team played in the 2007 Stanley Cup finals and the Eastern Conference finals in 2017 under his ownership. Melnyk passed away in March 2022 after an illness.

On Nov. 4, 2022, the Senators announced New York-based Galatioto Sports Partners had been hired to explore the sale of the franchise.

Michael Andlauer

The Senators announced on June 13, 2023, that the group led by Michael Andlauer has won the bidding war for the Senators.

The agreement will see Andlauer's group retain 90 per cent of the Senators ownership, with Melnyk's daughters Anna and Olivia retaining 10 per cent.

CTV News Ottawa has learned Andlauer's group includes Farm Boy partner and special advisor Jeff York and the Malhotra family, owners of Claridge Homes.