Eugene Melnyk's Ottawa Senators Are For Sale

Eugene Melnyk purchased the Ottawa Senators in 2003. To put it frankly, he's no Mark Cuban and he's certainly no Robert Kraft. It is no secret that he has had money issues for the last few years. Melnyk seemingly has no choice but to sell the Ottawa Senators Franchise.

Melnyk's perceived unwillingness to spend on player salary, alleged gambling debts, unpaid bills from his private jet and his $135 million loan refinance are key evidence of these aforementioned money issues.

The Senators are currently valued at $445 million as of December 2019. The Ottawa Citizen reported in January of 2019 that Melnyk had turned down an offer of $430 million. The expansion fee for Seattle was $650 million; it's difficult to believe a team is worth far less than a team that has yet to exist. Only the leadership of Melnyk could generate such deficits.

"Eugene Melnyk has brought in some people to help him find a suitable partner. All signs are pointing towards Eugene Melnyk selling the Ottawa Senators, we just don't know exactly when a sale could come down, but it's likely in the near future"                            - Chris Johnson of "Sportsnet" 

There are not yet any rumors of any potential buyers of the Senators' franchise, but some have speculated that a group or individual from the region is preferred.

Fun Fact: President Donald Trump was once interested in purchasing the Florida Panthers.