One month after his hockey club put its captain up for sale, the Ottawa Senators owner has sold 66 of his Winding Oaks Farm racing stable’s horses for more than $5.2 million.
Melnyk released a statement in June indicating that he was retiring from the thoroughbred racing industry.
According to Ocala.com correspondent Carlos E. Medina, the horses were sold on Monday at a public auction in Kentucky for the cash equivalent of what Colin Greening will earn over the course of the next two seasons.
Apparently these horses won’t be the last to go. A few more stallions will be put up for auction in November and the Winding Oaks Farm itself has also been put up for sale.
Rumours and speculation about Melnyk’s financial wherewithal have been bandied about the interwebs for some time, but following the sale of his beloved horses, speculation concerning his future as owner of the Ottawa Senators is only going to continue to grow.
Whether you believe in Forbes’ latest valuation of the Senators or not, the franchise value of the Senators has only gone up since Melnyk saved the franchise from bankruptcy back in 2003. The value is only going to continue to increase with the CBA certainty and in light of the league’s new Canadian national broadcast agreement and the Senators’ regional agreement with Bell Media — coupled with the fact that the Senators are moderately competitive on a shoestring budget — the time has never been more ripe for Melnyk to sell.