The Senators top bidder walks away from the table.
The sale of the Ottawa Senators has had its twists and turns over the past couple of months since they announced the team was up for sale.
After the passing of Eugene Melnyk, the team was turned over to his two daughters Olivia and Anna who felt that running an NHL team was not for them given them in their early 20s.
Early in the process, Canadian fans of actor Ryan Reynolds had hoped that he would become the owner of the team as he put in his bid with the Remington group.
There was a long line of projected bids to acquire the team and the Canadian Tire Center. However, it seems that the process has stalled. Many of the bidders have walked away either due to the price tag being too high or being fed up with the whole process.
It's the case for the highest bidder, Toronto billionaire Steve Apostolopoulos, who topped the $1 billion mark.
He felt that the process was taking too long considering that he was the highest bidder should close the deal. It appears that Michael Andlauer, the Kimel Brothers and LA music producer Neko Sparks appear to be the last three standing to acquire the Senators.
One of the conditions Gary Bettman laid down early on is that the senators are not allowed to leave Ottawa, along with a new land deal must be negotiated in the downtown area of Ottawa.
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