The Ottawa Senators Sale is being held up by a different reason and it's not good

Published June 13, 2023 at 0:41
BY JOSHUA
     
It appears that the sale of the Ottawa Senators by the league has been poorly managed for quite some time.

Despite the interest shown by potential buyers like Ryan Reynolds and The Remington Group, fan favorites who were considered the best group to purchase the team, they have all fallen out of interest, expressing frustration.

There could be a different reason for the delay in the sale, and it's not what you might expect.

The Senators are currently dealing with a significant amount of debt, which may have given several buyers pause. However, this is just speculation at this point.


The team is currently $450 million in debt, as Eugene Melnyk purchased the team for $100 million years ago, only to burden it with a massive amount of debt. The buyers would be responsible for paying off the debt, as well as a capital gains tax of over $70 million for the team.

Despite a purchase price of $1 billion, the Melnyks' financial decisions may have discouraged potential buyers, putting the new ownership in a difficult financial position from the start.

As Seen On: bladeofsteel.com
POLL
June 13   |   61 answers
The Ottawa Senators Sale is being held up by a different reason and it's not good

Should the new owners be on the hook for $70 Million?

Yes2744.3 %
No3455.7 %
LIST OF POLLS
Latest 10 stories