OTTAWA — All indications are that the Ottawa Senators sale file is nearing completion.

A group led by Toronto businessman Michael Andlauer has reached an agreement in principle to acquire 90% and operational control of the National Hockey League club.

The team made the announcement in a press release on Tuesday, after the media released the information earlier in the day.

The amount of the transaction is not mentioned in the press release, but according to various media sources it should amount to almost one billion US dollars.

According to the statement, Anna and Olivia Melnyk, the adult daughters of former owner Eugene Melnyk, will retain a 10% stake in the club through the Melnyk estate.

Subject to National Hockey League approval and the completion of the sale process, Andlauer will assume control of the organization’s operations, the statement said.

Andlauer is the sole owner of the Hamilton Bulldogs, a junior Ontario Hockey League club, and a minority owner of the Montreal Canadiens.

The 57-year-old is also the founder and CEO of Andlauer Healthcare Group, which includes healthcare supply chain companies, and founder of Toronto-based investment bank Bulldog Capital Partners.

“I believe the Senators’ fanbase is one of the most passionate in the league,” Andlauer said in the statement released by the Ottawa organization.

“I look forward to taking the franchise’s success to the next level on and off the ice. The short and long-term future of the team is incredibly bright and I look forward to getting to know the team, the fan base and the community.”

Sportico and the Ottawa Sun newspaper were the first to announce the transaction.

The board of Senators Sports & Entertainment began selling the team last November after owner Eugene Melnyk died of an unspecified illness in March 2022 at the age of 62.

In early June, Commissioner Gary Bettman said the sale of the team was imminent and that he estimated the sale would be around $1 billion.

Bettman has repeatedly stated that the Senators’ sale is conditional on the team remaining in the Canadian capital.