Insider reveals just how much debt the Ottawa Senators have and ridiculous ask holding up their sale
There was a time when the Ottawa Senators were thought to have 10 potential buyers and it seemed as if the team would easily sell for a billion dollars. Those circumstances have clearly changed, as the Senators now appear to only have two potential buyers and candidates falling out daily.
Today on the 32 Thoughts Podcast, Elliotte Friedman revealed what was holding up the potential sale.
There is a believed $450M debt. Usually the seller would pay capital gains taxes, but they are trying to make the buyers pay.
To put the team's debt into perspective, Eugene Melnyk bought the Senators for a mere $100,000,000 years ago, and over time managed to tack on $350,000,000 worth of debt. I'm no expert, but that doesn't seem like a well run organization.
Now as a sale nears completion the board in charge of the sale is making the ridiculous request for the buyers to cover the costs of Capital Gains. The expected Capital Gains on this sale would be in the upwards of $70,000,000+ making this request even more ridiculous. Imagine requesting someone who is making a nearly billion dollar purchase, to cover your debt.
Even until the end the Sens will continue to rival the Arizona Coyotes for the league's biggest laughing stock.
![Feb 17, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team Canada forward Brandon Hagel (38) controls the puck during the first period in a 4 Nations Face-Off ice hockey game against Team Finland at TD Garden. Mandatory Credit: Bob DeChiara-Imagn Images](https://i.marqueur.com/habsetlnh/medium/530840.webp "Feb 17, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team Canada forward Brandon Hagel (38) controls the puck during the first period in a 4 Nations Face-Off ice hockey game against Team Finland at TD Garden. Mandatory Credit: Bob DeChiara-Imagn Images")
![Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team Canada goalie Jordan Binnington (50) stops Team United States forward Matthew Tkachuk (19) in the first period during a 4 Nations Face-Off ice hockey game at the Bell Centre. Mandatory Credit: Eric Bolte-Imagn Images](https://i.marqueur.com/habsetlnh/medium/530819.webp "Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team Canada goalie Jordan Binnington (50) stops Team United States forward Matthew Tkachuk (19) in the first period during a 4 Nations Face-Off ice hockey game at the Bell Centre. Mandatory Credit: Eric Bolte-Imagn Images")
![Feb 20, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team Canada forward Brad Marchand (63) lifts the 4 Nations Face-Off trophy after winning against Team USA in overtime during the 4 Nations Face-Off ice hockey championship game at TD Garden. Mandatory Credit: Brian Fluharty-Imagn Images](https://i.marqueur.com/habsetlnh/medium/530800.webp "Feb 20, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team Canada forward Brad Marchand (63) lifts the 4 Nations Face-Off trophy after winning against Team USA in overtime during the 4 Nations Face-Off ice hockey championship game at TD Garden. Mandatory Credit: Brian Fluharty-Imagn Images")
![Feb 17, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team Canada defenseman Josh Morrissey (44) and forward Anthony Cirelli (71) try and find the loose puck during the second period in a 4 Nations Face-Off ice hockey game against Team Finland at TD Garden. Mandatory Credit: Bob DeChiara-Imagn Images](https://i.marqueur.com/habsetlnh/medium/530722.webp "Feb 17, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team Canada defenseman Josh Morrissey (44) and forward Anthony Cirelli (71) try and find the loose puck during the second period in a 4 Nations Face-Off ice hockey game against Team Finland at TD Garden. Mandatory Credit: Bob DeChiara-Imagn Images")
![Feb 17, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team Canada forward Connor McDavid (97) shoots the puck while Team Finland defenseman Olli Maata (3) defends during the first period in a 4 Nations Face-Off ice hockey game at TD Garden. Mandatory Credit: Bob DeChiara-Imagn Images](https://i.marqueur.com/habsetlnh/medium/530714.webp "Feb 17, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team Canada forward Connor McDavid (97) shoots the puck while Team Finland defenseman Olli Maata (3) defends during the first period in a 4 Nations Face-Off ice hockey game at TD Garden. Mandatory Credit: Bob DeChiara-Imagn Images")
![Feb 13, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team USA forward Brady Tkachuk (7) celebrates his goal against Team Finland in the third period during a 4 Nations Face-Off ice hockey game at Bell Centre. Mandatory Credit: David Kirouac-Imagn Images](https://i.marqueur.com/habsetlnh/medium/530544.webp "Feb 13, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team USA forward Brady Tkachuk (7) celebrates his goal against Team Finland in the third period during a 4 Nations Face-Off ice hockey game at Bell Centre. Mandatory Credit: David Kirouac-Imagn Images")
![Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team Canada forward brandon Hagel (38) plays the puck and Team United States defenseman Charlie McAvoy (25) defends in the second period during a 4 Nations Face-Off ice hockey game at the Bell Centre. Mandatory Credit: Eric Bolte-Imagn Images](https://i.marqueur.com/habsetlnh/medium/530571.webp "Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team Canada forward brandon Hagel (38) plays the puck and Team United States defenseman Charlie McAvoy (25) defends in the second period during a 4 Nations Face-Off ice hockey game at the Bell Centre. Mandatory Credit: Eric Bolte-Imagn Images")
