Shares in the Montreal Canadiens sold for record price

Back in September, Michael Andlauer became the new owner of the Ottawa Senators after purchasing the franchise for $950 million USD. But he still needed to complete one piece of business, selling his 10% stake in the Montreal Canadiens.

On Wednesday, it was reported by Sportico that Michael Andlauer has officially sold his 10% stake in the Montreal Canadiens at a record valuation of $2.5 billion USD, meaning he walked away with $250 million.




Andlauer became a minority owner with the Montreal Canadiens back in 2009 when the Molson family purchased the team from the George Gillett for $575 million, just days before the franchise's 100th anniversary.

It's been a rough start to the Andlauer era in Ottawa. Between their 4-4-0 start, injuries to key defencemen, as well as the suspension of Shane Pinto and having to forfeit a first-round pick due to their role in the voided Evgenii Dadonov trade. Andlauer will also now be on the look out for a new General Manager after letting Pierre Dorion go on Wednesday.