Toronto billionaire Michael Andlauer reportedly reached an agreement to buy the NHL's Ottawa Senators on Tuesday for just shy of $1 billion.
According to TSN, Andlauer's group beat out three other bids, and he will have to sell his 10 percent stake in the Montreal Canadiens to become the Sens' controlling shareholder.
Bruce Garrioch of Postmedia reported that the final sale price is expected to be $950 million.
The Senators were put up for sale in November after Eugene Melnyk, who owned the franchise for nearly 20 years, died in March 2022.