BREAKING: Montreal Canadiens Get Sold For Over 2.5 Billion Dollars by Michael Andlauer For His 10% Share

PUBLICATION

Joshua Deeds
November 1, 2023 (5:46 PM)

SHARE THIS STORY

In order to take control of the Ottawa Senators, Michael Andlauer had to sell his Montreal Canadiens shares.

As a minority owner of the Montreal Canadiens, Andlauer held only a minute 10% share.

EXCLUSIVE: Michael Andlauer has sold his 10% minority interest in the
@CanadiensMTL
at a $2.5 billion value. https://wp.me/pc2RuA-1lyRou

It is a record valuation for a standalone NHL team; a stake in Maple Leafs Sports & Entertainment, which includes the Toronto Maple Leafs, as well as NBA's Raptors and MLS' Toronto FC, was sold this summer at an $8 billion valuation.

The Molson Family, who own the majority of the Canadiens, purchased his share today after he completely divested from the team.

Despite Andlauer's shares only totaling 10% in the team itself, the valuation is astonishing. Molson family exercised their option to buy Andlauer's 10% share right away for $2.5 Billion.

Shares in Maple Leaf Sports & Entertainment, which includes the Toronto Maple Leafs, Toronto Raptors, and Toronto FC, sold for $8 billion.

As a result of Andlauer's purchase of the Ottawa Senators, had to sell his share in the Canadiens, from the Melnyk Family who will retain 10% in the Ottawa Senators.

Six consecutive seasons have passed without the NHL Senators making the playoffs, and the team will forfeit a first-round pick after Pierre Dorion handled Evgenii Dadonov's trade poorly.

Today, Pierre Dorion resigned because of the consequences.