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NHL Loses Billionaire Investor Amid Frustration with Gary Bettman’s Handling of the League

Photo of Igor Burdetskiy Igor Burdetskiy Follow on X June 9, 2023
5 1 minute read

It’s likely that you are aware of the ongoing bidding war to purchase the Ottawa Senators if you have regularly watched the NHL over the past few weeks. The sale has been protracted and drawn out, leaving many supporters and business partners alike feeling worn out and disheartened. It is being managed by the late Senators owner Eugene Melnyk’s daughters.

Steve Apostolopoulos, a billionaire from Toronto, self-funded his own campaign to purchase the Senators and was widely regarded as the favorite. Apostolopoulos has tabled his bid out of irritation because the process has not yet concluded despite his desire to raise it above the $1 billion threshold.

Apostolopoulos apparently became tired of waiting for a response because it appears that the NHL and the Melnyk Estate had been using Apostolopoulos’ bid as a benchmark for other investment groups to fulfill. The NHL’s intention to sell the team before the draft and free agency is unquestionably compromised by this.

For the Melnyk Estate, the loss of Apostolopoulos hurts, but it’s not the first investment firm they’ve lost thus far. Ryan Reynolds, an actor and entrepreneur who served as the face of his own bidding group, recently withdrew when his unique request for an exclusive negotiating session was denied. Finding the best purchase for the Senators franchise seems to be less important to Bettmand and the Melnyk Estate than making as much money as they can.

Gary Bettman continually overplaying his own hand, making it seem as though he is his own worst enemy. The NHL and the Melnyk Estate may be disappointed with the final bid for the Senators, and they would only have themselves to blame.

Igor Burdetskiy

Igor Burdetskiy

Founder, Editor-in-Chief, & CEO at Hooked on Hockey Magazine
I grew up playing Ball and Roller Hockey day and night somewhat religiously throughout elementary and middle school. The two don't compare though when I lace up the skates and hit the ice. I live and breathe hockey beyond the perspective of "it's just a game" and I will gladly talk hockey for hours with anyone. Hockey is more than just a lifestyle, it's a culture of passionate people who make memories every time the puck is dropped. Hockey has not only helped me get through some of the hardest times in life but has created some of the best memories to date. Want to talk hockey with me? Shoot me an email: iburdetskiy@hookedonhockey.com and let's talk some hockey!
Igor Burdetskiy
Photo of Igor Burdetskiy Igor Burdetskiy Follow on X June 9, 2023
5 1 minute read
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