When did Melnyk buy the Senators?
In 2003, the Ottawa Senators were on the verge of bankruptcy when Melnyk scooped in and bought the team as well as its arena for $92 million (U.S.). The arena, known as Corel Centre at the time, is now the Canadian Tire Centre. It wasn’t Melnyk’s first foray into hockey team ownership.
How did Eugene Melnyk make his fortune?
Canadian billionaire Eugene Melnyk made his fortune in pharmaceuticals. But the hockey enthusiast was best known for his controversial ownership of the Ottawa Senators. Eugene Melnyk, the Ottawa Senators owner who died from an undisclosed illness March 28 at the age of 62, was born in Canada to Ukrainian parents.
Do the Ottawa Senators deserve a better owner than Melnyk?
The Ottawa Senators deserve a much better owner than Eugene Melnyk. The world of sports has been littered with awful owners. There’s James Dolan, who has consistently allowed his New York Knicks to trot out unacceptably horrible lineups for years. Of course, there’s Jeffrey Loria too, who was so incompetent, he nearly got two MLB teams moved.
Did Mohegan Sun Sue Eugene Melnyk for $1 million?
^ “Connecticut’s Mohegan Sun Casino Sues Billionaire Ottawa Senators Owner Eugene Melnyk for $1 Million Over Unpaid Markers". Casino.org. 16 Sept 2019.
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How much did Eugene Melnyk buy the Sens for?
$92 millionMelnyk had purchased the Senators and the arena in Kanata for $92 million, after the franchise had fallen into bankruptcy protection, with creditors owed more than $200 million.
Who owned the Sens before Melnyk?
FirestoneThe team has had two changes of ownership, from Firestone to Rod Bryden in 1993 due to the arena development process and its financing, and subsequently to Eugene Melnyk after the team filed for bankruptcy in 2003. On the ice, the club finished last in the League in its first four seasons.
How long has Eugene Melnyk owned the Sens?
Melnyk, a Toronto native, has owned the Senators since 2003. In 2007, Ottawa reached the Stanley Cup final before losing in five games to the Anaheim Ducks. In a statement, NHL commissioner Gary Bettman paid tribute to Melnyk.
What company did Melnyk own?
Biovail CorporationHe was the founder, chairman, and CEO of Biovail Corporation, once Canada's largest publicly traded pharmaceutical company with more than C$1 billion in annual revenue. He sold almost all of his holdings in the company by 2010.
Who owned the Sens?
Founded and established by Ottawa real estate developer Bruce Firestone, the team is the second NHL franchise to use the Ottawa Senators name. The original Ottawa Senators, founded in 1883, had a famed history, winning the Stanley Cup 11 times, playing in the NHL from 1917 until 1934.
Did Eugene Melnyk pass away?
March 28, 2022Eugene Melnyk / Died
How much are the Sens worth?
The Senators are worth $655 million, according to Sportico's most recent valuations, which ranks No. 27 in the league.
How much money did Eugene Melnyk have?
$1.2 billionMelnyk's estimated net worth was more than $1.2 billion, built on his involvement with multiple companies, including Canadian pharmaceutical firm Biovail Corp. The Senators, an NHL expansion team in 1992-93, reached their only Stanley Cup Final in 2007.
How old is Eugene Melnyk?
62 years (1959–2022)Eugene Melnyk / Age at death
How did Eugene Melnyk pass away?
Eugene Melnyk, owner of the Ottawa Senators since 2003, died from an illness Monday. He was 62. "The National Hockey League mourns the passing of Ottawa Senators owner Eugene Melnyk," NHL Commissioner Gary Bettman said in a statement.
What was Melnyk illness?
a liver transplantMelnyk had a liver transplant in 2015 after a public campaign for a donor. He had owned the Senators since 2003, when he bought the NHL club for $92 million. Ottawa reached the Stanley Cup Final in 2007, losing in five games to the Anaheim Ducks.
Who first owned the Ottawa Senators hockey team?
Bruce FirestoneWhen the cost of a new arena is added in, an incoming owner is easily looking at a total investment north of $1 billion, said the team's original owner Bruce Firestone this week. Ottawa has lost four straight games and six of its first 10 this season, putting the team at the bottom of the Atlantic division.
Who first owned the Ottawa Senators hockey team?
Bruce FirestoneWhen the cost of a new arena is added in, an incoming owner is easily looking at a total investment north of $1 billion, said the team's original owner Bruce Firestone this week. Ottawa has lost four straight games and six of its first 10 this season, putting the team at the bottom of the Atlantic division.
Who did Sens get from the stone trade?
Mark Stone was traded to the Vegas Golden Knights with forward Tobias Lindberg on Monday by the Ottawa Senators for forward Oscar Lindberg, defenseman prospect Erik Brannstrom and a second-round pick in the 2020 NHL Draft.
When were the Sens founded?
1990Ottawa Senators / Founded
Who did the Sens get for Nick Paul?
Mathieu JosephNick Paul was traded to the Tampa Bay Lightning by the Ottawa Senators on Sunday for Mathieu Joseph and a fourth-round pick in the 2024 NHL Draft.
What is the Eugene Melnyk field called?
This field is called "The Eugene Melnyk Sports Field". Melnyk has made several significant donations to the school making him the single largest individual donor in the 150+ year history of the St. Michael's College School.
How much is the Ottawa Senators worth?
As of December, 2020, the Ottawa Senators were listed by Forbes magazine as the NHL's twenty-sixth highest valued franchise at US$450 million. The team has enjoyed some success on the ice under Melnyk's tenure, including a trip to the Stanley Cup Finals in 2007.
How much is Melnyk worth?
He sold almost all of his holdings of the company by 2010. Canadian Business magazine ranked Melnyk 79th with a net worth of $1.21 billion on its 2017 list of Canada's 100 wealthiest people. He is also one of the richest residents of Barbados.
Where is the Ottawa Senators hockey team located?
in 2016, the Ottawa Senators in partnership with the City of Belleville, ON announced that Melnyk purchased the American Hockey League franchise which was currently located in Binghamton, New York, and that the team would relocate to Belleville, Ontario for the 2017-18 AHL season.
When did Melnyk propose the Ottawa Soccer Stadium?
On September 16, 2008, Melnyk proposed plans for an Ottawa Major League Soccer professional soccer team, and a new soccer-specific Ottawa Soccer Stadium but could not obtain support from Ottawa's municipal Council. Instead, the Mayor and Council chose a different site for the Canadian Football League 's Ottawa Redblacks franchise.
What is Eugene Melnyk's primary focus?
Eugene Melnyk is involved with various charitable organizations. His primary charitable focus is on helping children and the elderly. His involvement has included:
When did Melnyk buy the Icedogs?
As there was already an OHL team in Mississauga, the Mississauga IceDogs, Melnyk subsequently purchased the IceDogs franchise in 2006 and resold them in 2007 in order to facilitate the move of the Majors from Toronto to Mississauga.
What is net of arena revenues used for?
Net of arena revenues used for debt payments.
What does 120 mean in the NHL?
A score of 120 means that the team achieved 20% more victories per dollar of payroll compared with the league average during the 2019-20 season.
How many fans did the Senators have in 2019?
The club ranked last in the NHL in attendance during the 2019-20 season with an average of 12,618 fans per game.
What does 120 mean in baseball?
A score of 120 means that the team achieved 20% more victories per dollar of payroll compared with the league average during the 2019-20 season. 84. Revenue per Fan.
How many games are there in the NHL regular season?
Starting Wednesday, the NHL is back in action as its kicks off a 56-game regular season outside the confines of the bubbles that kept players safe last summer.
How old is Eugene Melnyk?
by Arthur L. Caplan & Lee H. IgelNYU Sports & Society Eugene Melnyk is 55 years-old and suffering from late-stage liver disease. His doctors say that he needs a transplant if he is to have any chance of living to see his birthday later this month. Like many people in his [...]
When is the NHL trade deadline?
The Columbus Blue Jackets and Ottawa Senators have dominated the 2019 trade-season headlines so far, but keep an eye on the New York Rangers, Detroit Red Wings, Winnipeg Jets, Nashville Predators and Carolina Hurricanes ahead of the NHL's 3 p.m trade deadline on Monday. Jun 19, 2018.
Overview
Sports ownership
Melnyk's first foray into sports franchise ownership came in 2001 with the purchase of the St. Michael's Majors of the Ontario Hockey League. At the time, the club played at the St. Michael's College School's Arena in Toronto, but Melnyk aimed to move the team to nearby Mississauga. As there was already an OHL team in Mississauga, the Mississauga IceDogs, Melnyk subsequently purchased the IceDogs franchise in 2006 and resold them in 2007 in order to facilitate the move …
Business career
In 1982, Melnyk founded medical publishing company Trimel Corporation, which summarized important medical research into shorter and more accessible notes for doctors. Trimel was taken public in 1987 and sold to Thomson Publications (part of the Thomson Corporation) in 1989.
In 1989, Melnyk founded Biovail Corporation, a specialty pharmaceutical company. During his time as chairman and CEO of Biovail, revenues grew from $19 million in 1995 to $1.067 billion in 2006…
Business ventures
• Ottawa Senators (NHL Team)
• Canadian Tire Centre (Multi-purpose Arena and home of the Ottawa Senators)
• Trimel Pharmaceuticals Corporation
• Biovail Corporation (retired), formerly known as Trimel Pharmaceuticals (same name as Melnyk's new pharmaceutical company)
Philanthropy
Eugene Melnyk was involved with various charitable organizations. His primary charitable focus was on helping children and the elderly. His involvement included:
• Honorary Director of Help Us Help the Children (HUHC), a humanitarian organization that benefited from his annual donation of medical supplies and clothing. The organization, founded in Canada, helps to offer vital care to over 100,000 children living in 220 orphanages scattered thro…
Personal life
Melnyk was born in Toronto, Ontario, on May 27, 1959, the son of Ferdinand and Verna Melnyk, who were both born in Ukraine. He was a Canadian citizen and also a resident of Barbados.
From 2014 to 2019, Melnyk was the honorary colonel of the No. 414 Squadron RCAF.
In July 2019, Melnyk was sued by Connecticut casino Mohegan Sun for more than US$1 million over a gambling dispute that occurred in 2017. The casino alleged that Melnyk failed to make good o…
See also
• List of billionaires
• List of Ukrainian Canadians
External links
• Forbes.com: Forbes World's Richest People Archived February 14, 2012, at the Wayback Machine
• Profile of Eugene Melnyk
• All about Melnyk