The Ottawa Senators are reportedly up for sale following the death of owner Eugene Melnyk.

The NHL organization, which is now run by the Canadian businessman’s family, has engaged in getting the sale process started.

The Senators have hired financial services firm Galatioto Sports Partners to help arrange the sale.

The team has not commented on the matter.

However, Senator’s founder Bruce Firestone is hopeful there will be new ownership.

“With the team on the upswing, there will likely be quite a bit of interest,” he told CBC.

“My hope is that a local group will take over and I’ve spoken with a few who may participate,” he said.

To start the season, the Senators are 4-4 on the season and are in the last place in the Atlantic Division.

However, it did bring in some notable star players including Alex Debrincat and Claude Giroux.

That came despite Melnyk passing away at 62 years old in March due to an illness.

In addition, Sportico reported the valuations of all 32 NHL teams.

The Senators are worth about $655 million.

The Toronto Maple Leafs and the New York Rangers are the two most valuable NHL franchises, worth more than $2 billion each.

As for the Senators, the team’s ownership future will be up to Melnyk’s two daughters: Anna and Olivia.

In June, former Tennessee Gov. Bill Haslam reportedly agreed to buy the Nashville Predators for $775 million.

The purchase is expected to be completed at the end of 2025.

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