On June 13, 2023, a group led by Toronto-based businessman Michael Andlauer reached an agreement to purchase the NHL's Ottawa Senators for US$950 million ($1,273,000,000 CAD). Mr. Andlauer, who began his career in trucking and later ventured into merchant banking, pro sports, and healthcare, will own 90% of the team. The remaining 10% will be retained by the club's late former owner, Eugene Melnyk's daughters, Anna and Olivia. The sale came after the daughters put the Senators up for sale in November of the previous year. Mr. Andlauer had been a front-runner due to his existing ties to the NHL, including a 10% ownership of the Montreal Canadiens since 2009. His ascension in hockey team ownership parallels the success of Andlauer Healthcare Group Inc., a transportation company serving the medical industry which he launched in the early 1990s. The company has more than doubled in value since going public in 2019. The transaction was managed by Andlauer's merchant bank, Bulldog Capital Partners, with legal counsel from Goodmans. The ownership group will also comprise Ottawa business executive Jeff York and Ottawa's Malhotra family, owners of Claridge Homes, among others. Before the deal is finalized, Andlauer needs to sell his minority stake in the Canadiens, which may set a new benchmark for team valuations given the Canadiens' estimated value of US$1.85 billion. Additionally, Andlauer aims to relocate the team downtown to boost attendance, with a development in the LeBreton Flats neighborhood being a potential option.