Shares in the Montreal Canadiens sold for record price

PUBLICATION

Cooper Godin
November 2, 2023 (1:34 PM)

SHARE THIS STORY

Back in September, Michael Andlauer became the new owner of the Ottawa Senators after purchasing the franchise for $950 million USD. But he still needed to complete one piece of business, selling his 10% stake in the Montreal Canadiens.

On Wednesday, it was reported by Sportico that Michael Andlauer has officially sold his 10% stake in the Montreal Canadiens at a record valuation of $2.5 billion USD, meaning he walked away with $250 million.

"Michael Andlauer has sold his 10% minority interest in the @CanadiensMTL at a $2.5 billion value.

It is a record valuation for a standalone NHL team; a stake in Maple Leafs Sports & Entertainment, which includes the Toronto Maple Leafs, as well as NBA's Raptors and MLS' Toronto FC, was sold this summer at an $8 billion valuation."

Andlauer became a minority owner with the Montreal Canadiens back in 2009 when the Molson family purchased the team from the George Gillett for $575 million, just days before the franchise's 100th anniversary.

It's been a rough start to the Andlauer era in Ottawa. Between their 4-4-0 start, injuries to key defencemen, as well as the suspension of Shane Pinto and having to forfeit a first-round pick due to their role in the voided Evgenii Dadonov trade. Andlauer will also now be on the look out for a new General Manager after letting Pierre Dorion go on Wednesday.