Eyeing turnaround, Ottawa Senators close $135M debt financing deal

The parent company of the Ottawa Senators says it’s completed a $135-million debt financing agreement with a syndicate of financial institutions.

Capital Sports Holding says the proceeds will be used to “pursue growth, serve general corporate purposes and to replace existing debt.”

While the financial deal has likely been months in the making, its closing comes on the heels of the club’s hiring of a new chief operating officer, Nicolas Ruszkowski.

The veteran communications and marketing expert is tasked with boosting the team’s bottom line and enhancing its market presence.

The Senators struggled mightily both on and off the ice last season, struggling to attract fans to the Canadian Tire Centre for games. The team announced earlier this year that it would lower parking fees and remove tarps from the upper bowl of the arena in an attempt to boost attendance.