Why Ryan Reynolds did not follow through with bid for Ottawa Senators

After setting his sights on the Ottawa Senators while his Wrexham soccer club rises to stardom, Ryan Reynolds will ultimately not be scoring on his bid to own the NHL team.

The prospect of owning the team has caught the eye of several notable investors, and Reynolds and his Toronto-based investment group had made a bid for $1 billion.

Remington or bust

Sources told Postmedia that the Canadian actor has also been offered the opportunity to make a bid with other investor groups, but he declined.

The actor had originally committed to developer Chris Bratty and the Remington Group, and determined that if he were to acquire the Sens, it would be with Remington or not at all.

“The other groups have reached out,” the insider said. “But like Reynolds has mentioned previously, Remington was his team and that isn’t going to change.”

“He’s not looking for a symbolic piece of this,” the source explained. “Remington’s plan was robust and dynamic. None of this was cursory or impulsive for him.”

No to exclusive negotiation rights

Reynolds and Remington opted out of their bid after they requested “exclusive” negotiating rights with the city and commissions for a new stadium downtown —- but were denied.

After the denial of their special request, the group held pause to consider their next steps, and ultimately decided to walk away.

The publication reported sources close to Reynolds say he is frustrated and it’s not how he wanted things to play out.

Who will buy the Sens now?

The same publication reported other would-be owners to submit a bid before the deadline are Toronto businessmen Michael Andlauer, Jeffrey and Michael Kimel, Steve Apostolopoulos, and Neko Sparks.

The winner will be decided by New York-based banker Galatioto Sports Partners, the Melnyk estate, and the National Hockey league within the next days.