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Potential bidders have already thrown their name in the ring to buy the Ottawa Senators.

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League sources say there will be several teams interested in buying the Senators once they are officially put up for sale by Anna and Olivia Melnyk in the next month or so. Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc. By clicking the subscribe button you consent to receive the above newsletter from Postmedia Network Inc. You can unsubscribe at any time by clicking the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

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The expectation is that the family will keep an endowment out of respect for her late father, Eugene Melnyk, who died in March after a long illness.

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While it will likely be a month before New York-based sports banker Galatioti Sports Partners signs off on the final paperwork for the Senators and then begins formally speaking with potential suitors, a league official told this newspaper “there will be a lot teams’ that will make a pitch. NHL commissioner Gary Bettman may already have someone in mind, but the organization needs to go through the due diligence process and make sure there’s someone willing to put up their money when they’ve expressed interest.

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Here are some names this paper thinks you should watch out for in the coming months: Sources say Jeffrey and Michael Kimmel, who owned a minority stake in the Pittsburgh Penguins before selling to Fenway Sports Group last year, have already expressed interest in buying the Senators and participating in the LeBreton Flats project. The Toronto-based brothers are on the board of Harlo Financial Group. The company invests in real estate, wealth management and the entertainment industry. Michael Kimel is the head of Chase Hospitality Group. Michael Kimel recently founded OverActive Media, which invests in esports, and also served on the Penguins’ board of directors. The Kimel family has the financial means to make it happen and the know-how to help build LeBreton, but they’re not alone on that front, and that’s why there’s a bidding process.

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Another name being speculated is Toronto billionaire Michael Andlauer. The owner of the OHL’s Hamilton Bulldogs also has a 20% stake in the Montreal Canadiens. There has always been speculation that he wants to check interest from his own NHL team. He is also well respected by Bettman and deputy commissioner Bill Daly. The owner of the Andlauer Group, which owns transportation and logistics companies in Canada, may have kicked the Ottawa franchise in the past. Of course, Montreal-based billionaire Andre Desmarais of Power Corp, who was linked to the other group that bid for LeBreton Flats in 2016, may also dip his toe in the water. He is close friends with Bettman and has expressed interest in buying the Senators in the past.

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While we’ve heard teams are interested locally, those familiar with the inner workings of the league don’t believe someone based in Ottawa has the ability to pull off a deal of this size on their own, meaning you’d have to join a larger group. This will be a huge transaction that could be between $700 million and $1 billion (all US figures) once the deal closes. The Penguins were recently sold for $900 million and the Nashville Predators are on the verge of selling for $775 million. You will hear a lot of speculation about potential local buyers in the coming months. While Minto’s Roger Greenberg has publicly stated that he would like to be part of a team to buy the team, it would have to be a team that has a lot of money behind it.

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A league official told this newspaper on Wednesday that he believes the Senators’ next owner will be based either in Toronto or in the United States. Bettman wants to keep this team in Ottawa, especially with the possibility of a downtown arena on the horizon. Why is this happening now? The clock is ticking on the 15-month window to get a lease at LeBreton Flats. Even if the Melnyk family wanted to keep ownership of the franchise, they would have to bring in a partner to help finance the new rink located 10 minutes west of downtown. A new owner could also come from the group of partners involved in LeBreton’s bid. These include Sterling Project Development, Populous, Tipping Point Sports and Live Nation.

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Making this decision now will ensure that the new owner can participate in the negotiation process with the National Capital Commission before it is concluded. Anthony LeBlanc, the club’s president of business operations, and Erin Crowe, the chief financial officer, continue to handle those talks. It will be business as usual for the front desk because work must continue with the clock ticking toward a September 2023 deadline to reach a lease agreement with NCC officials. As we’ve noted in the space, Mayor-elect Mark Sutcliffe can expect a call from Crowe and LeBlanc about LeBreton’s bid. The city of Ottawa will play a role in the rink, and the Senators may model the project after the Ice District in Edmonton. In that scenario, the city and province of Alberta both helped provide funding for the arena, and the feeling is that Sutcliffe is at least willing to listen to that scenario. Stay tuned, the next eight to 10 months will be interesting. [email protected] Twitter.com/sungarioch

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