The Reynolds Bid Was Met With Plenty of Excitement But Ultimately Failed

Published on August 23rd, 2024 5:14 pm EST
Written By: Dave Manuel


When Eugene Melnyk passed away, the Ottawa Senators were put up for sale.

It's not every day that a franchise becomes available in one of the Big 4 leagues, and there was plenty of interest in buying the Senators, even though the team hasn't enjoyed that much success since joining the league.

One of those interested parties was Ryan Reynolds.

Reynolds, along with a developer out of Markham, Ontario called the Remington Group, were reportedly interested in purchasing the Senators and their arena for $1 billion USD.

Reynolds wasn't just the face of the deal - he has been unbelievably successful in the business world, parlaying stakes in Aviation Gin and Mint Mobile into hundreds of millions of dollars. In addition, Reynolds is a co-owner of Wrexham A.F.C., which has enjoyed a great deal of success since Reynolds took over the club.

The city of Ottawa was excited about the prospect of Reynolds joining the NHL, and the NHL seemed excited as well.

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Unfortunately for both sides, the deal ultimately ended up falling apart.

The main snag?

The Reynolds group reportedly asked for an exclusivity window to negotiate for both the purchase of the team and the construction of a new arena.

Members of the Board of Directors for the Senators reportedly balked at this request, as they felt as though it would be unfair to the other interested parties.

After having their exclusivity request refused, Reynolds and the Remington Group dropped out of the bidding.

Michael Andlauer ended up purchasing the team for $950 million USD.