Andlauer ‘confident’ as Senators’ bidding enters final stages

The battle of the billionaires for the ownership of the Ottawa Senators is down to crunch time.

As Postmedia first reported, Toronto businessmen Michael Andlauer, Jeffrey and Michael Kimel and Steve Apostolopoulos, along with Los Angeles-based producer Neko Sparks, submitted bids at Monday’s deadline.

We’re led to believe the four bids ranged from somewhere between US$850 million and $1 billion. Since New York-based banker Galatioto Sports Partners (GSP) received those bids, they’ve been working with the groups involved to get the best price possible for the team.

“(The bank) is trying to draw this out to get as much money as they can,” a league source told Postmedia on Saturday. “My guess is they’re probably (at a stage) where (the bidders are) offering counteroffers.

“Whoever has the highest bid, the (bank) is going to go back to the other bidders and saying, ‘You need to fork over more money because that’s what it is going to take.’ Then that person will have a decision to make.

“I don’t think the bidders went into this thinking their first bid would be their last.”

The source said that Andlauer, 57, a minority owner of the Montreal Canadiens, is “confident” he’ll be anointed by the NHL, GSP and the Melnyk family, and that he’ll emerge as the preferred bidder and close the deal to buy the Senators.

But a league source said three of the four bids that have been submitted are competitive and that’s why GSP was still working on this through the long weekend in Canada.

We believe Jeffrey and Michael Kimel, the former minority owners of the Pittsburgh Penguins, had a strong offer that’s also getting serious consideration.