OTTAWA, Ontario -- The sale of the Ottawa Senators is finally official.
The NHL announced Thursday that the transfer of the club to a group led by Michael Andlauer has been unanimously approved by the league's board of governors, and that the transaction has been completed.
The Senators said Andlauer will assume control of the team's operations effective immediately.
The Andlauer group reached an agreement to purchase the club in June for nearly $1 billion.
"The Ottawa Senators Hockey Club is an amazing organization, from the players, to the staff, to the most passionate fan base in the game," Andlauer said in a release. "My family and I are thrilled to officially be a part of Ottawa's team and the Ottawa-Gatineau community.
The Senators went up for sale last November following the death of owner Eugene Melnyk, whose daughters are retaining 10% of the team.
Andlauer was also approved by the American Hockey League's board of directors to take ownership of the Belleville Senators, Ottawa's AHL affiliate.
He is the founder and chief executive officer of Andlauer Healthcare Group, which owns health care supply chain companies, and the founder of Toronto-based merchant bank Bulldog Capital Partners.
His ownership group includes Farm Boy grocery store co-CEO Jeff York and the Malhotra family, owners of Ottawa real-estate development giant Claridge Homes.
NHL deputy commissioner Bill Daly said this month that finalizing the sale had been complicated by the number of investors under the Andlauer umbrella.
The approval of the sale was announced on the opening day of NHL training camps.
The Senators haven't made the playoffs since 2017, when the they fell a goal short in the Eastern Conference final.
