Multiple sources close to the process have revealed that actor Ryan Reynolds’ bid to acquire the Ottawa Senators NHL franchise will not move forward. Although the NHL declined to comment on the matter, Reynolds had been linked to a bid led by real estate developer Remington Group.
The sale of the Senators, which was announced in November following the passing of long-time owner Eugene Melnyk, has generated significant interest and is shaping up to be a bidding war among celebrities.
One notable bid includes rapper Snoop Dogg, who announced his involvement in a bid led by Los Angeles-based businessman Neko Sparks. Additionally, singer The Weeknd is part of a bid led by Toronto billionaires Jeffrey and Michael Kimel, as reported by the Ottawa Sun. The involvement of high-profile individuals in these bids has added an extra level of excitement and attention to the process.
Sources indicate that Reynolds’ request for an exclusive window to finalize the deal was denied, leading him to withdraw from the process. Interested groups have until May 15 to submit their final nonbinding offers. According to a recent valuation by Forbes, the Senators are worth around $800 million. Sources suggest that the Remington Group’s bid was believed to be valued at over $1 billion.
In December, NHL commissioner Gary Bettman confirmed that the league had met with Reynolds to discuss his interest in owning an NHL team. Bettman spoke highly of Reynolds, praising his intelligence, business acumen, and understanding of sports and promotion. Reynolds, who grew up in Canada, confirmed his interest in buying the team during an appearance on “The Tonight Show Starring Jimmy Fallon” in November. He jokingly mentioned the need for a partner with deep pockets and humorously remarked that if the acquisition didn’t happen, he would buy a U.S. senator instead.
While Reynolds won’t be adding the Ottawa Senators to his list of sports ownership, he recently became the co-owner of Wrexham AFC, a fifth-tier English soccer club. Together with actor Rob McElhenney, Reynolds documented their ownership journey in a successful Hulu documentary. Wrexham recently achieved promotion to the Football League after a 15-year absence.
By: Mr WWK
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