How the Mint Mobile Sale Impacts the Ottawa Senators

OTTAWA, CANADA - NOVEMBER 08: Actor and owner of Wrexham Ryan Reynolds waves to the crowd during the first period of an NHL game between the Vancouver Canucks and Ottawa Senators at Canadian Tire Centre on November 08, 2022 in Ottawa, Ontario, Canada. (Photo by Chris Tanouye/Freestyle Photography/Getty Images)
OTTAWA, CANADA - NOVEMBER 08: Actor and owner of Wrexham Ryan Reynolds waves to the crowd during the first period of an NHL game between the Vancouver Canucks and Ottawa Senators at Canadian Tire Centre on November 08, 2022 in Ottawa, Ontario, Canada. (Photo by Chris Tanouye/Freestyle Photography/Getty Images) /
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Ryan Reynolds has now sold Mint Mobile to T-Mobile, and believe it or not, this impacts the Ottawa Senators

Today it was announced on Ryan Reynolds twitter account that he had sold his beloved mobile carrier, Mint Mobile to T-Mobile. Believe it or not, this sale likely just pushed Reynolds over the edge for his bid for the Ottawa Senators.

It was announced that the deal altogether comes to a 1.35 billion dollar price tag. At first glance, that money alone would be more than enough to purchase the Ottawa Senators, but not so fast. Obviously, not all of this goes to Reynolds. Reynolds was a minority stakeholder of Mint, which means he does not get the entire buyout. First, let’s take a look at how much he owns. Although it has not been publicized how much of the company he actually owned, it can be estimated that he owned somewhere between 20-25% of the company. For the purposes of this article, let’s meet in the middle of those two figured at 22.5%. It is also important to note that not the entire payout will occur in cash. It was reported by The Hollywood Reporter that T-Mobile will pay 39% of the 1.35b in cash, and the remaining 61% would be awarded to current Mint-Mobile owners in stock. At this number, the entire cash payout to outgoing owners is approximately $526.5m. Like I previously mentioned, Reynolds is not entitled to that entire cash sum. With his ownership stake being approximately 22.5%, he would likely walk away with $118.5m and a minority stake in ownership in T-Mobile.

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This approximate payout of $118.5m would mean that Reynolds has just that much more money to include in his bid for the Senators. It has been confirmed by PostMedia’s Bruce Garrioch that Reynolds is currently in a consortium with the Remington group, led by Christopher Bratty.

NHL Commissioner Gary Bettman confirmed today at the NHL GM Meeting that the Ottawa Senators sale should conclude in the coming weeks. Things just got interesting thanks to this sale.