Michael Andlauer is officially the new owner of the Ottawa Senators, and NHL commissioner Gary Bettman believes the franchise is in good hands after the publicized sale process.

“I don't think there's anybody who should have any concerns about the future of this franchise,” Bettman said on Friday while introducing Andlauer as the team's new owner, according to Sportsnet. “In fact, to the contrary, I think everybody can be assured that the best days of this franchise are yet to come.”

Andlauer spent a pretty penny to purchase the team; it was reported that his bid of $950 million was the highest offer when the organization was put up for sale back in November of 2022. The league's board of governors officially approved the sale late last week.

“It's been worth the journey,” Andlauer said in his emotional first remarks. “I can really say I'm finally home.”

Andlauer made it clear that the ultimate goal was bringing a Stanley Cup to Ottawa for the first time ever.

“It truly is my passion to win the Cup. I believe I can make a difference,” he explained. “I think I've done it at different levels of hockey, whether it be the AHL or in the OHL. The fundamentals are the same. I'm determined.”

Andlauer won an American Hockey League championship with the Hamilton Bulldogs in 2007, and won two more when the team became an Ontario Hockey League junior club in 2018 and 2022.

Despite the team playing in the suburb of Kanata, Andlauer asserted that there are plans to build a new rink in Ottawa sometime in the next five years.

“To me, the most important thing is what's important for the fans,” he continued. “If I can increase the fans' experience, that's what I'm here for. Probably the fans will help me dictate where the best place to be is.”

Although the Sens haven't made the playoff since 2017, there is belief within the organization that this team has what it takes to compete in 2023-24 and beyond.

With the signings of talented goalie Joonas Korpisalo and Stanley Cup winner Vladimir Tarasenko, coupled with a young and talented core, the Senators will be knocking on the door of playoff contention as soon as next year with their new owner.