Latest news with #MichaelAndlauer
New York Times
2 days ago
- Business
- New York Times
What I'm hearing about Senators' 2025 first-round pick, Drake Batherson, Claude Giroux, more
ASHTON, Ont. — It didn't take long for Ottawa Senators majority owner Michael Andlauer to get down to brass tacks when speaking to the media on a sunny Friday morning. He wasted no time coming to the defence of Drake Batherson, who has been mired in trade rumours. Unprompted, Andlauer addressed a report from the Ottawa Citizen that said the team was listening to trade offers for Batherson. The 27-year-old scored 26 goals and 68 points in 82 games this past season and is about to enter the fifth year of a seven-year deal carrying a $4,975,000 annual cap hit. Batherson's name has emerged as a trade candidate as the Senators hope to improve their scoring. Ottawa's offence ranked 19th-best and second-worst in goals scored at five-on-five last year. But the Senators seem uninterested in moving their scoring winger, who finished the season as the team's second-best goal scorer and point-getter. 'We're at the (draft) combine and, apparently, we're trading Batherson?' Andlauer said at the Senators' annual charity golf tournament at the Canadian Golf & Country Club on Friday morning. 'You know, it's not right. Sometimes, you've just got to get your sources right. You can always validate it here. But it's not for me, or Steve (Staios). To me, it's all about the player. So now all of a sudden, this guy's seeing that and it's totally false.' Advertisement Sens general manager Steve Staios confirmed later that he had spoken to Batherson about the trade talk surrounding him, and that his winger appeared unconcerned. 'I know things get out there (that) are written, and you know that there's no truth to it,' Staios said. 'But when it was written on back-to-back days, I was informed that it was out there a couple of days in a row. I talked to our players often through the offseason anyway, but I just thought the timing was right to make sure that Drake knows that there's no truth to it.' Batherson's availability was among a handful of topics discussed by Andlauer and Staios on Friday, including a brief update on the Senators' future arena at LeBreton Flats. 'It's moving forward. I don't know at what pace,' Andlauer said. 'But we're not moving back. We'll just put it that way.' The Senators continue to discuss a potential new contract for forward Claude Giroux. Both Staios and Andlauer met with Giroux's agent Pat Brisson in Buffalo during the NHL draft combine in recent days. The 37-year-old is a pending unrestricted free agent in July. He scored 15 goals and 50 points in 81 games this past season. AFP Analytics, a private sports analytics consulting firm, projected a two-year deal with a $5,172,280 annual average value for Giroux. 'We continue to talk,' Staios said. 'I think the dialogue is ongoing. You speak to the representative, you want to find what's what's fair. And it takes two sides. Staios was asked if the team tendered a contract offer to Giroux, but would only say both sides are continuing their 'dialogue.' 'I think we want to find some common ground.' Staios spoke similarly when asked about pending free agent Fabian Zetterlund, acquired at the trade deadline from the San Jose Sharks. He declined to discuss whether he's hoping to sign the Swedish forward to a short- or long-term deal. Advertisement 'Open to ideas on it, for sure,' Staios said. Staios opted for a short-term deal with defenceman Tyler Kleven at the beginning of the week, signing him to a two-year contract with a $1.6 million cap hit. He described the negotiations between him and Kleven's agent Craig Oster as 'smooth.' 'You go through the process, you talk to the agent,' Staios said. 'You find some comparables, and you're trying to find an even ground for both the player, be fair to the player, and also for the team. So, we're excited about Tyler. On a two-year deal, and he continues to develop. We're pleased with his development. I think, to his own admission, I think a bit of a slow start from last year. But certainly picked it up and played well in the playoffs as well.' Staios and the Senators also continue to monitor a developing free-agent pool, and Staios indicated he'd like to see his team have some more salary-cap flexibility. 'We'll take a look at everything,' Staios said. 'I think it's hard to tell, because a lot of these players might not make it to free agency and get re-signed by their teams. 'You're always trying to improve your team, and this is an opportunity to improve our team through the offseason and around the draft. But it's only one opportunity. I'll be prepared to do things. But you just don't want to force it. You want to make sure that it's right. So, we're going through that process.' The Senators currently have over $15 million in cap space, according to PuckPedia. The Athletic published its free-agent big board this week, led by Toronto Maple Leafs forward Mitch Marner and Florida Panthers forward Sam Bennett. Staios revealed 34-year-old defenceman Nick Jensen is recovering from a hip injury, but wouldn't get into specifics. Jensen played through his first season in Ottawa with Thomas Chabot as his partner, but was plagued by a lower-body injury for most of the second half of the season. Jensen told the media last month he was 'hopeful' to return in time for training camp this fall. Advertisement 'He's been doing very well,' Staios said. 'It is a period of time that he'll be out for. Not sure (how long). Knowing Nick in the way he's going to attack his rehab, can he expedite his return to play? Most likely with him. I don't really have a timeline on it. But (it's) certainly something that I think we were hoping that he (could get through). Once we revealed exactly what it was, we knew that it was something that needed to get taken care of. And full credit to him playing through what he did and to play at the level that he did.' A handful of defencemen could potentially hit the free-agent market next month, including Florida Panthers defenceman Aaron Ekblad, who told the media on Friday he hopes to re-sign in Florida. The Senators will keep their first-round pick for this month's upcoming draft, meaning they'll be forced to forfeit next year's first-round pick for their role in a 2022 nullified Evgenii Dadonov trade involving the Vegas Golden Knights. Andlauer told the media in April he was hoping for 'some kind of forgiveness' from league commissioner Gary Bettman and mentioned it again on Friday. 'Did I say I was hopeful?' Andlauer said. 'No, I think I said I was going to go on my knees and plead for forgiveness, is what I was going to say. Even though it was never on my watch and I'll keep reiterating that. Would I be hopeful? I would love it. At the end of the day, just be a good citizen and do what's right for our club, but do what's right for the NHL.' So, that leaves the Senators with the No. 21 pick in this month's draft and a handful of possibilities available. Staios said he's 'pretty much open to anything' when asked if he'd consider trading it, but the Senators seem intrigued about who they could draft. 'We're sitting at 21, and as we look at the list and watch the players that could potentially be there, we're growing more excited about the pick,' Staios said. The Athletic's draft gurus, Scott Wheeler and Corey Pronman, have projected defenceman Blake Fiddler, goaltender Joshua Ravensbergen and centre Jack Nesbitt to the Senators in recent mock drafts. Youngsters Malcolm Spence, Ben Kindel and Ivan Ryabkin are also possibilities. Senators head scout Don Boyd told The Athletic last month that their strategy is picking the 'best player available' when it's their turn. 'We feel that there will be a player, at least one and probably a few more, that could be picked in that area that are going to be NHL players,' Boyd said. (Top photo of Claude Giroux and Drake Batherson: Chris Tanouye / Freestyle Photography / Getty Images)
Cision Canada
5 days ago
- Business
- Cision Canada
Andlauer Healthcare Group Announces Filing and Mailing of Information Circular and Receipt of Interim Order in Connection with its Acquisition by UPS
TORONTO, June 2, 2025 /CNW/ - Andlauer Healthcare Group Inc. (TSX: AND) (" AHG" or the " Company") today announced that its management information circular (the " Information Circular") in connection with the Company's upcoming special meeting (the " Meeting") of the holders (the " Shareholders") of the Company's multiple voting shares and subordinate voting shares (collectively, the " Shares") is available under AHG's profile on SEDAR+ ( as well as on the Company's website at The physical delivery to Shareholders of the Information Circular and related materials for the Meeting (collectively, the " Meeting Materials") has also commenced. The Meeting is being held for Shareholders to consider and vote on a special resolution (the " Arrangement Resolution") approving a plan of arrangement pursuant to which affiliates of UPS (NYSE: UPS) will acquire all of the issued and outstanding Shares for C$55.00 per Share in cash (the " Arrangement"), as more fully described in the Information Circular. The Arrangement Resolution requires approval of at least two-thirds (66 ⅔%) of the votes cast by Shareholders at the Meeting, voting together as a single class. Michael Andlauer and Andlauer Management Group Inc., the Company's largest Shareholder, and each of the Company's other directors and officers have entered into voting and support agreements pursuant to which they have agreed, subject to the terms thereof, to support and vote all of their Shares in favour of the Arrangement. Consequently, holders of approximately 2.6% of AHG's subordinate voting shares and holders of 100% of its multiple voting shares, representing approximately 82.4% of the total voting power attached to all of the Shares, have agreed to vote their Shares in favour of the Arrangement Resolution. The Company will hold the Meeting in a virtual-only meeting format, online at on June 24, 2025 at 11:00 a.m. (Toronto time). Only Shareholders of record at the close of business on May 13, 2025 (the " Record Date") will be entitled to vote at the Meeting. Shareholders are encouraged to read the Information Circular in its entirety and vote their Shares as soon as possible ahead of the proxy voting deadline of 11:00 a.m. (Toronto time) on June 20, 2025 or, if the Meeting is adjourned or postponed, at least 48 hours (excluding Saturdays, Sundays and holidays in the Province of Ontario) prior to the commencement of the reconvened Meeting (the " Proxy Deadline"). The board of directors of the Company, after receiving advice from its financial and legal advisors, and after receiving a unanimous recommendation from a special committee of independent directors, recommends that Shareholders vote FOR the Arrangement Resolution. Further details and voting instructions can be found in the Information Circular. Receipt of Interim Order The Company is also pleased to announce that the Ontario Superior Court of Justice (Commercial List) (the " Court") issued an interim order dated May 20, 2025 in connection with the Arrangement, authorizing the calling and holding of the Meeting and other matters related to the conduct of the Meeting. In addition to obtaining Shareholder approval at the Meeting, the completion of the Arrangement will be subject to obtaining the final order of the Court for the Arrangement, obtaining applicable regulatory approvals or clearances, as well as other customary closing conditions. Impact of Potential Canada Post Labour Disruption on the Delivery of Meeting Materials to Canadian Shareholders In light of the potential Canada Post labour disruption, beneficial Shareholders (i.e. Shareholders who hold their Shares with one or more financial institutions or brokers) in Canada as of the Record Date who have previously requested that physical copies of the Meeting Materials be sent to them, may experience delays in receiving physical copies of the Meeting Materials. The Company does not expect any impact on the delivery of physical copies of the Meeting Materials to any registered Shareholders or US or international Shareholders who have requested such physical copies, or to the Company's Canadian Shareholders who have elected for materials for Shareholder meetings to be sent to them by e-mail. Shareholders are encouraged to access the Information Circular electronically under the Company's profile on SEDAR+ at or on the Company's website at Any Shareholder who, as a result of the potential Canada Post labour disruption, is delayed in receiving their previously requested physical copy of the Information Circular may request to receive an electronic copy of the Information Circular by e-mail or a physical delivery of the Information Circular by UPS at [email protected]. If you are a Canadian beneficial Shareholder, you are encouraged to contact your brokerage firm, financial institution or other intermediary and request the control number for each of your accounts that hold Shares, as delivery of a physical copy of your voting instruction form may be delayed. Once you have obtained your control number(s), you can vote the Shares represented by such control number(s) at As a result of the potential Canada Post labour disruption, proxies and voting instruction forms that Shareholders mail back to Broadridge Investor Communications Corporation (" Broadridge") in Canada may not be received by Broadridge prior to the Proxy Deadline. Accordingly, all Shareholders are strongly encouraged to vote their Shares online or by telephone as instructed in the Meeting Materials. It is recommended that any physical forms of proxy or voting instruction forms be delivered via hand or courier (other than Canada Post) to ensure that they are received in a timely manner. Shareholders should contact Broadridge by e-mail at [email protected] if they need any assistance in voting their Shares. About AHG AHG is a leading and growing supply chain management company offering a robust platform of customized third-party logistics (" 3PL") and specialized transportation solutions for the healthcare sector. The Company's 3PL services include customized logistics, distribution and packaging solutions for healthcare manufacturers across Canada. AHG's specialized transportation services in Canada, including air freight forwarding, ground transportation, dedicated delivery and last mile services, provide a one-stop shop for clients' healthcare transportation needs. Through its complementary service offerings, available across a coast-to-coast distribution network, AHG strives to accommodate the full range of its clients' specialized supply chain needs on an integrated and efficient basis. For more information on AHG, please visit: Forward-Looking Information This press release contains "forward-looking information" and "forward-looking statements" (collectively, " forward-looking information") within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "is expected", "an opportunity exists", "budget", "scheduled", "estimates", "outlook", "forecasts", "projects", "projection", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or, "will", "occur" or "be achieved", and similar words or the negative of these terms and similar terminology. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Specifically, statements regarding the anticipated timing of the Meeting; the proposed completion of the Arrangement; and other statements that are not statements of historical facts are all considered to be forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. This forward-looking information is based on our opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the risk that the Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated; that the Arrangement may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required Shareholder, court and regulatory approvals and other conditions to the closing of the Arrangement or for other reasons; the risk that competing offers or acquisition proposals will be made; the possibility of litigation relating to the Arrangement; credit, market, currency, operational, liquidity and funding risks generally and relating specifically to the Arrangement, including changes in economic conditions, interest rates or tax rates; risks related to delays in Shareholders receiving the Meeting Materials in light of the potential Canada Post labour disruption, and those other risks discussed in greater detail under the "Risk Factors" section of our Annual Information Form which is available under our profile on SEDAR+ at If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in forward-looking statements included herein. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, any forward-looking statements included herein are made as of the date of this news release and, except as expressly required by applicable law, AHG assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements. SOURCE Andlauer Healthcare Group Inc.
Yahoo
6 days ago
- Business
- Yahoo
Andlauer Healthcare Group Announces Filing and Mailing of Information Circular and Receipt of Interim Order in Connection with its Acquisition by UPS
TORONTO, June 2, 2025 /CNW/ - Andlauer Healthcare Group Inc. (TSX: AND) ("AHG" or the "Company") today announced that its management information circular (the "Information Circular") in connection with the Company's upcoming special meeting (the "Meeting") of the holders (the "Shareholders") of the Company's multiple voting shares and subordinate voting shares (collectively, the "Shares") is available under AHG's profile on SEDAR+ ( as well as on the Company's website at The physical delivery to Shareholders of the Information Circular and related materials for the Meeting (collectively, the "Meeting Materials") has also commenced. The Meeting is being held for Shareholders to consider and vote on a special resolution (the "Arrangement Resolution") approving a plan of arrangement pursuant to which affiliates of UPS (NYSE: UPS) will acquire all of the issued and outstanding Shares for C$55.00 per Share in cash (the "Arrangement"), as more fully described in the Information Circular. The Arrangement Resolution requires approval of at least two-thirds (66 ⅔%) of the votes cast by Shareholders at the Meeting, voting together as a single class. Michael Andlauer and Andlauer Management Group Inc., the Company's largest Shareholder, and each of the Company's other directors and officers have entered into voting and support agreements pursuant to which they have agreed, subject to the terms thereof, to support and vote all of their Shares in favour of the Arrangement. Consequently, holders of approximately 2.6% of AHG's subordinate voting shares and holders of 100% of its multiple voting shares, representing approximately 82.4% of the total voting power attached to all of the Shares, have agreed to vote their Shares in favour of the Arrangement Resolution. The Company will hold the Meeting in a virtual-only meeting format, online at on June 24, 2025 at 11:00 a.m. (Toronto time). Only Shareholders of record at the close of business on May 13, 2025 (the "Record Date") will be entitled to vote at the Meeting. Shareholders are encouraged to read the Information Circular in its entirety and vote their Shares as soon as possible ahead of the proxy voting deadline of 11:00 a.m. (Toronto time) on June 20, 2025 or, if the Meeting is adjourned or postponed, at least 48 hours (excluding Saturdays, Sundays and holidays in the Province of Ontario) prior to the commencement of the reconvened Meeting (the "Proxy Deadline"). The board of directors of the Company, after receiving advice from its financial and legal advisors, and after receiving a unanimous recommendation from a special committee of independent directors, recommends that Shareholders vote FOR the Arrangement Resolution. Further details and voting instructions can be found in the Information Circular. Receipt of Interim Order The Company is also pleased to announce that the Ontario Superior Court of Justice (Commercial List) (the "Court") issued an interim order dated May 20, 2025 in connection with the Arrangement, authorizing the calling and holding of the Meeting and other matters related to the conduct of the Meeting. In addition to obtaining Shareholder approval at the Meeting, the completion of the Arrangement will be subject to obtaining the final order of the Court for the Arrangement, obtaining applicable regulatory approvals or clearances, as well as other customary closing conditions. Impact of Potential Canada Post Labour Disruption on the Delivery of Meeting Materials to Canadian Shareholders In light of the potential Canada Post labour disruption, beneficial Shareholders (i.e. Shareholders who hold their Shares with one or more financial institutions or brokers) in Canada as of the Record Date who have previously requested that physical copies of the Meeting Materials be sent to them, may experience delays in receiving physical copies of the Meeting Materials. The Company does not expect any impact on the delivery of physical copies of the Meeting Materials to any registered Shareholders or US or international Shareholders who have requested such physical copies, or to the Company's Canadian Shareholders who have elected for materials for Shareholder meetings to be sent to them by e-mail. Shareholders are encouraged to access the Information Circular electronically under the Company's profile on SEDAR+ at or on the Company's website at Any Shareholder who, as a result of the potential Canada Post labour disruption, is delayed in receiving their previously requested physical copy of the Information Circular may request to receive an electronic copy of the Information Circular by e-mail or a physical delivery of the Information Circular by UPS at If you are a Canadian beneficial Shareholder, you are encouraged to contact your brokerage firm, financial institution or other intermediary and request the control number for each of your accounts that hold Shares, as delivery of a physical copy of your voting instruction form may be delayed. Once you have obtained your control number(s), you can vote the Shares represented by such control number(s) at As a result of the potential Canada Post labour disruption, proxies and voting instruction forms that Shareholders mail back to Broadridge Investor Communications Corporation ("Broadridge") in Canada may not be received by Broadridge prior to the Proxy Deadline. Accordingly, all Shareholders are strongly encouraged to vote their Shares online or by telephone as instructed in the Meeting Materials. It is recommended that any physical forms of proxy or voting instruction forms be delivered via hand or courier (other than Canada Post) to ensure that they are received in a timely manner. Shareholders should contact Broadridge by e-mail at if they need any assistance in voting their Shares. About AHG AHG is a leading and growing supply chain management company offering a robust platform of customized third-party logistics ("3PL") and specialized transportation solutions for the healthcare sector. The Company's 3PL services include customized logistics, distribution and packaging solutions for healthcare manufacturers across Canada. AHG's specialized transportation services in Canada, including air freight forwarding, ground transportation, dedicated delivery and last mile services, provide a one-stop shop for clients' healthcare transportation needs. Through its complementary service offerings, available across a coast-to-coast distribution network, AHG strives to accommodate the full range of its clients' specialized supply chain needs on an integrated and efficient basis. For more information on AHG, please visit: Forward-Looking Information This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "is expected", "an opportunity exists", "budget", "scheduled", "estimates", "outlook", "forecasts", "projects", "projection", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or, "will", "occur" or "be achieved", and similar words or the negative of these terms and similar terminology. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Specifically, statements regarding the anticipated timing of the Meeting; the proposed completion of the Arrangement; and other statements that are not statements of historical facts are all considered to be forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. This forward-looking information is based on our opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the risk that the Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated; that the Arrangement may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required Shareholder, court and regulatory approvals and other conditions to the closing of the Arrangement or for other reasons; the risk that competing offers or acquisition proposals will be made; the possibility of litigation relating to the Arrangement; credit, market, currency, operational, liquidity and funding risks generally and relating specifically to the Arrangement, including changes in economic conditions, interest rates or tax rates; risks related to delays in Shareholders receiving the Meeting Materials in light of the potential Canada Post labour disruption, and those other risks discussed in greater detail under the "Risk Factors" section of our Annual Information Form which is available under our profile on SEDAR+ at If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in forward-looking statements included herein. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, any forward-looking statements included herein are made as of the date of this news release and, except as expressly required by applicable law, AHG assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements. SOURCE Andlauer Healthcare Group Inc. View original content:
Edmonton Journal
23-05-2025
- Sport
- Edmonton Journal
HAVE YOUR SAY: Senators fans bullish on team's future in reader poll results
Article content The cat already is out of the bag with Ottawa's first-round draft pick, as Staios decided not to forfeit his 2025 selection, as expected. That aligns with the poll results, which seem to favour the wait-and-see approach that owner Michael Andlauer has advocated. In terms of changes to be made, fans largely concurred on who they didn't want back. Out of time and favour among the Senators faithful is backup goaltender Anton Forsberg, whose UFA status could see him replaced by 22-year-old Leevi Merilainen. Fans are high on the Finnish netminder, who posted a sparkling .925 save percentage and 1.99 goals-against average over 12 NHL starts. Fans also liked the Dylan Cozens trade, although he was the top player respondents think needs to be better next season. Dennis Gilbert — the other piece of the deal — along with Travis Hamonic, are popular defenders to let go of this summer in free agency. Both are unrestricted and likely won't be kept. At forward, respondents felt generally favourable towards re-signing Adam Gaudette after his breakout goal-scoring performance this season, while Nick Cousins and especially Matthew Highmore were seen as more dispensable. Take a look at the results below:
Globe and Mail
12-05-2025
- Business
- Globe and Mail
Owning Senators, or any sports team, beats public market investments
Last month, Ottawa Senators owner Michael Andlauer sold the logistics business where he made his fortune for $2.2-billion, after more than tripling the company's value in the past six years. Pro sports is likely to be an even more lucrative investment for Mr. Andlauer, a self-made billionaire and beer-league hockey goalie. Set aside what you've heard about frothy valuations on hockey, baseball, basketball and football teams. Owning a franchise such as the National Hockey League's Senators is a proven approach to making serious money, according to a study run by the University of Michigan's Ross School of Business and private equity firm Arctos Partners LP. For all the talk of sports investing being driven by the greater fool theory – with one deep-pocketed fanboy justifying buying a team on expectations of eventually selling to an even wealthier frustrated jock – there are solid economics behind the lofty prices that teams command. Over the past 20 years, owning a stake in a team from one of the four major North American leagues – the NFL, NBA, MLB and NHL – provided an impressive 12.3-per-cent annual return, according to the Ross-Arctos Sports Franchise Index. That's significantly better than the performance of any public market benchmark, such as equities, fixed income or commodities. Decades of double-digit returns, along with the leagues' recent liberalization of rules to allow institutional investors into ownership groups, explain why asset managers are now lining up to put money into sports. Pension plans and private equity funds put a priority on assets that turn in predictable results regardless of market conditions, or what the Street calls 'uncorrelated returns.' The institutional investor crowd also gets worked up about businesses with rising profit margins, which the NHL, NBA and NFL currently enjoy. Legacy media business, such as television networks, continue to pay up for the rights to games. At the same time, deep-pockets streaming platforms such as Inc., Apple Inc. and Netflix Inc. are starting to bid. So broadcast revenues in leagues with salary caps, giving teams the ability to control costs that come from paying players. The NHL, NBA and NFL all recently announced new broadcast deals that guarantee billions in revenues for more than a decade. University of Michigan academics Emory Kaplan and Jon Grossman said in a report that 'institutional investor interest is rising thanks to this long-term revenue and cost certainty.' All of this is music to the ears of Rogers Communications Inc., which will eventually bring in partners at Maple Leaf Sports & Entertainment, parent to Toronto's pro teams. And it's ancient history to institutional investors such as the Ontario Teachers' Pension Plan, which made serious money as MLSE's former owner. Team owners such as Mr. Andlauer, a 60-year-old who previously owned a stake in his hometown Montreal Canadiens, aren't just investing because they are fans. Over the past five years, Mr. Andlauer earned an 11.5-per-cent annual return on Andlauer Healthcare Group Inc., which he founded in 1991 and took public in 2019 at $15 a share. In late April, Atlanta-based United Parcel Service Inc. agreed to buy the transport company for $55 a share. While this is heady performance, the Ross-Arctros Index did even better, rising 14.4 per cent annually over the past five years. Over the past 12 months, franchise values jumped by 17.3 per cent, driven by deals such as the US$6.1-billion sale of the NBA's Boston Celtics. In 2023, Mr. Andlauer led a consortium that set a new high-water mark for the value of NHL franchises when they bought the Senators for US$950-million. The ownership group also includes former Farm Boy co-chief executive officer Jeff York and Ottawa real estate developer Bill Malhotra. If Mr. Andlauer cares about the economics of his investment, and billionaires typically care deeply about economics, a 17.3-per-cent-plus gain on the Senators means his group is already up about US$165-million. The Senators stand to become even more valuable as a new $11-billion, 12-year broadcast contract kicks in next year with Rogers Communications Inc., and the team potentially moves to a downtown arena. It took Mr. Andlauer 34 years to make his first billion by selling his logistics business. The surging economics of pro sports may make it far easier to make his second billion at the Senators, while potentially bringing home a Stanley Cup.
