Bankruptcy and sale to Eugene Melnyk In 2000, owner Bryden publicly appealed for tax relief from the Government of Canada for all Canadian NHL teams, coping with a significant drop in the Canadian dollar. His appeal was first met with a plan for tax relief, but the tax relief program was cancelled. Bryden then announced the sale of the club outright to a limited partnership in 2002 for million, which would include creditors and Bryden himself. After its principal creditor Ogden Entertainment failed, the Senators entered bankruptcy protection in January 2003, owing million for the club and million for the arena. The deal fell through in 2003 when American investor Nelson Peltz declined to get involved.
Bankruptcy and sale to Eugene Melnyk In 2000, owner Bryden publicly appealed for tax relief from the Government of Canada for all Canadian NHL teams, coping with a significant drop in the Canadian dollar. His appeal was first met with a plan for tax relief, but the tax relief program was cancelled. Bryden then announced the sale of the club outright to a limited partnership in 2002 for million, which would include creditors and Bryden himself. After its principal creditor Ogden Entertainment failed, the Senators entered bankruptcy protection in January 2003, owing million for the club and million for the arena. The deal fell through in 2003 when American investor Nelson Peltz declined to get involved.