Two celebrities are part of the competing investment groups vying for control of the Ottawa Senators, a National Hockey League team facing difficulties.
What Happened: Rapper Snoop Dogg has emerged as part of a bidding group looking to buy the Ottawa Senators, which could throw a wrench in the plans of Canadian-born actor Ryan Reynolds, who is part of an opposing group bidding for the team.
Snoop Dogg has emerged as one of the investors attached to a bid for the Senators by entrepreneur Neko Sparks, who could be the first Black NHL team owner.
“He’s passionately involved. He’s coming up with ideas. And he’s legitimately excited. He wants this team,” a source told The Athletic of Snoop Dogg's engagement in the process.
The bid led by Sparks counts over a dozen investors, with the majority being people of color, making the potential ownership group one of the most diverse groups the NHL has seen, according to the report.
The report did not indicate how much Snoop Dogg had helped with the financing of a potential $1 billion sale price of the team.
Snoop could lure in other investors, including celebrities, to the Senators' bid, according to the latest report. Snoop’s strong following and connections in the music and entertainment sector are believed to be seen as a win to help book concerts at the team’s venue and help increase its fan base.
Snoop has previously partnered with the NHL on content and has also been featured in analysis and commentary of televised games of the NHL’s Los Angeles Kings.
Sources also say Snoop wants to help see the sport of hockey marketed to families with diverse backgrounds.
“He’s passionate about trying to make this game affordable for visible minorities and kids in low-income areas who haven’t been able to play hockey in the past. He wants to be community oriented,” sources said.
Outside of being one of the most well-known rappers of the last several decades, Snoop has grown as an entrepreneur. The rapper bought the Death Row Records brand, is the co-founder of a cannabis investor firm, and launched several wine and spirits brands. Snoop also bought a stake in a BIG3 basketball team in the league founded by Ice Cube.
Some in the hockey community may remember Snoop wearing a Pittsburgh Penguin jersey in the music video for his 1994 hit “Gin and Juice.”
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Why It’s Important: The Athletic previously reported on Sparks’ interest in January, with a source hinting that a major celebrity would be added to the bidding party.
“One of the major partners is a major force in the music industry. He has worked with everybody from Jay Z to The Weeknd to Drake. They have relationships with individuals with high visibility that can be ambassadors for the team,” the source said.
With a new downtown arena for the Senators among the big items for a potential bidder, Snoop’s attachment and his ability to get big names for concerts and events could help in a bid.
“They are looking at going to upwards of $950 million for the team. If they have to go there, they will,” a source said of Sparks’ bidding group in January.
Reynolds is part of a group that is considering a bid of $1 billion for the Senators. The actor could be receiving a nice payday after selling Mint Mobile to T-Mobile US TMUS. Reynolds has investing in several companies and is also the co-owner of Wrexham FC.
Bids for the team have a deadline of May 15.
The Senators were purchased by Eugene Melnyk in 2003 for $95 million. Melnyk passed away in 2022 and his two children have explored a sale since.
The team has been valued at $800 million by Forbes and $655 million by Sportico.
The Senators finished the 2023 season with a 39-35-8 record, posting a winning record after five straight losing seasons. The team failed to make the NHL Playoffs and has made the postseason now in only two seasons of the last 10 years.
Along with the groups which include Reynolds and Snoop, several other parties are expected to place bids on the Senators. Front Office Sports reported that there are seven finalists, including Sacramento Kings owner Vivek Ranadive.
At $1 billion, the Senators would mark the record for the most ever paid for an NHL team, beating out the $925 million deal for the Pittsburgh Penguins in 2021, which includes LeBron James among its investors.
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