Michael Andlauer\u0027s bid, which believed to be worth close to $1 billion US has been moved to the front of the line by the Melnyk estate.
From there, the agreement will be passed onto the board of governors and though they’re scheduled to meet in New York June 22, it might be a stretch to have the deal approved by then.
As Postmedia first reported at the deadline May 15 for binding bids, Andlauer along with Toronto billionaire Steve Apostolopoulos along with Jeffrey and Michael Kimel of Harlo Capital and Sparks, submitted binding bids.Article content The four bids ranged from somewhere between $850 million and $1 billion . Since GSP received those bids, they’ve worked with the groups involved to get the best price possible for the National Hockey League team.
It’s believed, Anna and Olivia, will retain as much as 10% stake once the deal is approved by the NHL. Bettman will give the governors an update on the sale, providing details of the agreement in principle and what it took to get there. The sale needs two-thirds approval of the board.
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