Senators Sports & Entertainment say process is underway to sell NHL team

Galatioto Sports Partners, a firm specializing in the sports finance and advisory business, has been retained as its financial adviser.

The team said in a press release that "a condition of any sale will be that the team remains in Ottawa."He had previously said he planned to leave the team to his daughters, Anna and Olivia. Melnyk purchased the Senators in 2003 for US$92 million at a time when the franchise faced bankruptcy and a tenuous future in the nation's capital.

A recent valuation from Sportico, an organization that reports on the business of sports, listed the Senators at $655 million.This report by The Canadian Press was first published Nov. 4, 2022.

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