NHL Ottawa Senators land Michael Andlauer contract for record price

Ottawa Senators goaltender Alex Auld (35) stops Nashville Predators’ Patric Hornqvist (right) during second round NHL hockey action in Ottawa, Ontario February 9, 2012.

Fred Chartrand

The Ottawa Senators of the National Hockey League have found a new owner.

Toronto-based billionaire Michael Andlauer has agreed to take over the Senators, setting a record for the highest price paid for an NHL team, according to a person familiar with the matter.

The deal is said to be worth nearly $1 billion, as previously reported by Sportico.

Andlauer is already a minority owner of the Montreal Canadiens and was reported months ago as an interested bidder for the Senators. As part of the deal for the Senators, Andlauer will have to sell his stake in the Canadiens, The Athletic reported.

The businessman is also CEO of ATS Healthcare Group, which he founded in 1991.

The team was put up for sale last year after its previous owner, Eugene Melnyk, died at the age of 62. Melnyk has owned the Senators since 2003 when he bought the team for $92 million.

Galatioto Sports Partners managed the sale on behalf of the Melnyk family.

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