The Ottawa Senators play in one of the NHL’s smallest media markets, ranked 25th in average attendance this season, haven’t reached the playoffs since 2017, and have regularly posted operating losses.

Before Tuesday, the idea that the club would sell for a record price seems admittedly farfetched.

But the robust health of the league, the promise of a new downtown arena, and competitive bidding led to a sale worth nearly $1 billion to Montreal Canadiens co-owner Michael Andlauer, a new NHL highwater mark. The deal tops the $900 million Fenway Sports Group paid for the Pittsburgh Penguins in 2021.

Arriving after a protracted, seven-month sales process, the deal further underlines a period of historic strength for the NHL. 

Overall hockey-related revenue is projected to approach $6 billion in 2022-23, burnished in part by long-term labor peace with the NHL Players Association and lucrative media rights contracts with Disney and WBD collectively worth nearly $4.4 billion.

The Senators aim to build a new arena in Ottawa’s LeBreton Flats that would supplant the 27-year-old Canadian Tire Centre — located about 16 miles from downtown Ottawa — and transform the team’s revenue-generating power.

In December, Forbes estimated the Senators’ value at $800 million — good for only 24th in the league. But Andlauer prevailed over several other bidders in a vigorous competition, including Toronto businessman Steve Apostolopoulos, who exited the bidding several days ago.

His Denver Nuggets just won the franchise’s first NBA title, but owner Stan Kroenke isn’t slowing down a bit.

The billionaire team owner and businessman has become the majority investor in a vast San Diego sports arena project.

The Kroenke Group, the 75-year-old’s real estate company, is taking control of San Diego’s Midway Rising project, which includes a 16,000-seat arena as the centerpiece of a 48.6-acre site that will be redeveloped with thousands of new housing units, a hotel, and retail space.

Located about 120 miles south of Kroenke’s $5.5 billion SoFi Stadium in Los Angeles, the planned San Diego venue — which could open as soon as 2025 — doesn’t have a price tag but could be a fitting home for a pro basketball or hockey franchise.

San Diego mayor Todd Gloria said the investment from Kroenke should “make it that much more certain that this project will actually come to fruition.”

Neither Kroenke’s championship-winning Nuggets nor his 2022 NHL champion Colorado Avalanche are looking to move from Denver, but the Arizona Coyotes are desperately searching for a viable arena, as they’re currently playing at Arizona State’s 5,000-seat Mullett Arena.

The NBA will likely expand within the next decade, so a new arena could make San Diego an attractive option for an incoming franchise, although Las Vegas and Seattle appear to be frontrunners as of now.

In 2025, Major League Soccer will arrive in San Diego with the league’s 30th team. It will play at Snapdragon Stadium, which opened last year and is currently home to the San Diego State Aztecs football team.

A game with little precedent in Major League history will take place Tuesday night. 

Fans will show up en masse to see the Oakland A’s host the Tampa Bay Rays in a “reverse boycott.” The action will seek to demonstrate that the A’s — the team with MLB’s worst record (18-50), smallest payroll ($59.6 million), and lowest average home attendance (8,555) — have fans that will attend games if its ownership commits to staying in Oakland and investing in the team.

Fans are planning to push team owner John Fisher with chants of “Sell the team!” and “Stay in Oakland!” A fan group will give out T-shirts that say “Sell” in white letters against the A’s classic Kelly green.

Meanwhile in Nevada

Nevada legislators passed two amendments to a bill to provide $380 million in public funds, plus additional tax breaks to facilitate a new stadium for the A’s in Las Vegas.

One amendment introduced on Tuesday specified the Tropicana site as the location for the stadium and provided details on the team’s community benefits program. Failure to comply with the program would allow the state’s Stadium Authority to take legal action against the team. Another amendment added language of unrelated bills that were vetoed by Gov. Lombardo.

The A’s are working with Goldman Sachs on a funding arrangement to help the team supply at least $1.1 billion toward the venue, provided public funds are made available, according to the Nevada Independent.