12 May 2023 , 16:09
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The Ottawa Senators won't be purchased by an investment group fronted by Hollywood actor Ryan Reynolds, after negotiations over a possible takeover stalled.
That's according to ESPN, who claim that Reynolds and The Remington Group have been denied an exclusive 30-day window to secure a downtown arena deal. Reynolds has been keen to add to his ownership portfolio after purchasing Wrexham alongside fellow actor Rob McElhenney, but hopes of buying the Senators appear to have fallen through.
Reynolds has ties to the Ottawa area, and ever since the NHL side was put up for sale in November a bidding war has taken place between multiple investment groups. But Reynolds' bid is reportedly not going any further, meaning that for now his sole focus is on Wrexham as they return to League Two for the first time in 15 years.
The Senators were put up for sale in November by the Melnyk family after long-time owner Eugene sadly passed away in March 2022. There's a huge opportunity for investors to transform the NHL franchise, with most bids leaning on building a new arena in the downtown area of Ottawa, moving away from their current home on the outskirts.
The same was the case for Reynolds, who teamed up with Toronto real-estate group Remington to launch an audacious bid for the Senators. Reynolds teased for an investment company to approach him on The Tonight Show last year, and shortly after he joined forces with The Remington Group.
Ryan Reynolds mispronounces name of new Wrexham signing in hilarious video
News of Reynolds' bid has gained traction ever since, with NHL commissioner Gary Bettman even welcoming the proposal as he believed that his introduction would only boost the popularity of the league. But after their appeal for an exclusive 30-day negotiation window was rejected, sources close to the deal revealed that their bid would not be moving forward.
The Senators are said to be valued at $900million (Getty)Although it may be a missed opportunity for Reynolds, it could be huge for Wrexham ahead of their biggest season in 15 years. It's well known that as far as a National League side goes they were by far the wealthiest with Reynolds and McElhenney on board, but League Two is a big step up.
They're back in the Football League, and the quality will be a major step up to what they've been used to. Wrexham have ambitions to climb up the football pyramid, meaning summer signings will be crucial to get off to a big start.
Reynolds is clearly in love with Wrexham, and has been a breath of fresh air as far as owners are concerned from across the pond. The Hollywood star was never going to neglect important signings this summer, but his failed NHL bid could boost their budget even further.
Reynolds tasted his first success as a club owner with Wrexham this season (Getty Images)It's still unknown whether Ben Foster will be re-signed, as the formerly retired goalkeeper only penned a six-week deal at the end of last season to assist their promotion charge. Foster admitted that he signed for "peanuts" to come out of retirement, but a full season of League Two action would require a revisit.
Star striker Paul Mullin was already playing below his level, but Reynolds and McElhenney will have to bring in squad depth along with some new stars. It's expected to be an exciting season for Wrexham, and potentially a hectic summer window.
It's likely Reynolds will be back in the mix for a new team should the opportunity arise, especially due to his love of ice hockey as a Canadian. But for now, to the delight of the Wrexham fans, his main priority will still be at the Racecourse Ground.
Reynolds is desperate to re-sign Ben Foster this summer (IAN COOPER/IAN COOPER PHOTOGRAPHY)Although Reynolds is a huge name, and would bring a lot of extra attention to the NHL, the request was denied out of fairness due to how many other bidders have entered the takeover process. "You can’t do that," a league source said of the exclusivity request.
"There are other bidders and nobody was going to give them that (exclusivity)." Reynolds also isn't the only celebrity involved in a potential deal, as Snoop Dogg announced he is part of another bid led by Los Angeles-based businessman Neko Sparks.
According to the Ottawa Sun, Canadian artist The Weeknd is also part of a bid by Toronto billionaires Jeffrey and Michael Kimel. The news will come as a huge disappointment for Reynolds who was keen to acquire a team closer to home, but it allows him to focus on Wrexham for the time being.
Wrexham boss details scale of Ryan Reynolds and Rob McElhenney's involvement