"Galatioto Sports Partners has been retained as financial advisor and a process has been initiated for the sale of the Ottawa Senators Hockey Club," Senators chairman and governor Sheldon Plener said. "This was a necessary and prudent step to connect with those deeply interested parties who can show us what their vision is for the future of the team."
Plener said a condition of any sale would be that the Senators remain in Ottawa.
Eugene Melnyk had owned the Senators since 2003 but died from an illness March 28 at age 62. His daughters, Anna, 23, and Olivia, 20, have been part of a group overseeing the team.
Melnyk purchased the Senators in 2003, 10 years after they joined the NHL as an expansion team, after they declared bankruptcy.
"If not for Eugene Melnyk, the Senators would not be in Ottawa," Senators general manager Pierre Dorion said after Melnyk's death.
During Melnyk's time as owner, the Senators reached the Stanley Cup Playoffs nine times, including the Stanley Cup Final in 2007, where they lost to the Anaheim Ducks, but haven't been to the postseason since reaching the Eastern Conference Final in 2017.
The Senators (4-6-0) have lost four straight. They next play at home against the Philadelphia Flyers on Saturday.
