Billionaire Investor Walks Away From the NHL After Disrespect From Gary Bettman

Toronto Billionaire Steve Apostolopoulos, who was believed to be the front-runner in the Senators' bidding process, has withdrawn his completely self-funded bid to own the team. According to the Ottawa Sun, Apostolopoulos grew frustrated with how long the bidding process was taking.

This is a massive blow to the Melnyk Estate and the NHL, who seem to be losing potential ownership groups for the Senators left and right. Something is seriously wrong here, and the NHL doesn't seem to be doing themselves any favors.

This is the second major bidding party to drop out of the process after actor Ryan Reynolds' group dropped out due to their exclusive negotiating request being rejected. It seems like the Melnyk Estate and Gary Bettman are trying to drag out this process as long as possible to squeeze as much money out of investors as they can, and people are wising up to it.

It makes sense that the NHL would want to make as much money as possible on this deal, but they're turning away massive investors in the process. They may have overplayed their hand here, and will soon begin to feel the effects of it.

With Gary Bettman and the NHL turning away so many business partners, will this hurt the NHL's ability to find good investors in the future?

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