The Ottawa Senators have drawn takeover interest from another investor in the entertainment industry — who could make NHL history. 

Los Angeles-based actor, producer, and tech entrepreneur Neko Sparks is reportedly planning to submit a bid to purchase the Senators — the 24th-most-valuable NHL franchise at $800 million, per Forbes. A deal would make Sparks the first Black owner in NHL history. 

• The Senators could be sold for as much as $950 million, per the Athletic. 
• A bid for the team would include a group of 13-15 investors. 
• The consortium would be from the U.S. and Canada.
• About 75% of the purchasing group would be people of color.

In November 2022, the Senators were made available after the family of the team’s late owner Eugene Melnyk hired Galatioto Sports Partners to explore a sale of the franchise. 

Melnyk purchased the Senators for $92 million in 2003 to save them from bankruptcy. 

GSP was expected to find the Senators’ next owner by mid-January, but the sale has been delayed roughly two weeks after the investment firm announced it wasn’t ready to open a due diligence website for potential buyers to look at the team’s financials.

The group reportedly wants to vet potential bidders before the website’s launch.

Star Attraction

Actor and Wrexham AFC co-owner Ryan Reynolds is reportedly “very interested” in owning the Senators and keeping them in Ottawa, though the Vancouver native has voiced his need for a consortium of investors to complete a deal.

One of the NBA’s most successful owners could expand his California sports empire.

On a recent podcast for The Athletic, Golden State Warriors majority owner Joe Lacob said that he and his group would “look at” buying the Los Angeles Angels, considering it “a huge market” and “part of that L.A. overall market.”

The Angels have been for sale since August, when owner Arte Moreno hired Galatioto Sports Partners to explore a sale of the franchise. The club could command at least $2.5 billion — which would be a record for an MLB team.

Galatioto is also handling the sale of the Ottawa Senators.

If he buys the Angels, Lacob will have to sort through a pile of troubles regarding Angel Stadium.

• In 2019, the city of Anaheim was set to sell it to Moreno for $320 million — but was derailed after allegations surfaced against former mayor Harry Sidhu, who ultimately resigned.
• The City Council later voted unanimously to terminate the sale.
• In October, the Angels threatened legal action against the city over a dispute concerning a planned fire station to be put in the stadium parking lot.

Lacob Looking

In July, Lacob also expressed interest in buying the Oakland Athletics, insisting he would keep them in the Bay Area.

After winning their fourth title under Lacob, the Warriors topped Forbes’ list of most valuable NBA franchises for the first time with a $7 billion valuation.

The Peloton cycle continues.

The connected fitness company agreed to pay a $19 million civil penalty for failing to inform the Consumer Product Safety Commission of treadmill defects and selling previously recalled products, the CPSC announced Thursday.

In early 2021, a child died in an accident involving a Peloton treadmill after more than a dozen of other injuries reported to Peloton beginning in December 2018.

“By the time Peloton filed a report with the Commission, there were more than 150 reports of people, pets, and/or objects being pulled under the rear of the Tread+ treadmill,” the CPSC’s statement reads.

The company recalled roughly 125,000 of its Tread+ brand treadmills in May 2021.

• Peloton initially refused to recall the product despite an “urgent request” by the CPSC in April. 
• The CPSC reported that after the recall announcement, “Peloton knowingly distributed in commerce 38 Tread+ recalled treadmills using Peloton personnel and through third-party delivery firms.”

In addition to the civil penalty, Peloton will also be required to “maintain an enhanced compliance program and system of internal controls and procedures” and has agreed to file annual reports of its compliance program for five years.

More Speed Bumps

The announcement is just another hit to the fitness giant, which made four rounds of layoffs in 2022. 

Peloton reported $616.5 million in first-quarter revenue — down from $805 million year-over-year and failing to meet its own revenue expectations.

The company has announced multiple turnaround strategies, including refurbished bikes, new brick-and-mortar deals, a rowing machine, and personnel switch-ups.