ttawa Senators owner Eugene Melnyk has sold the Mississauga St. Michael's Majors of the Ontario Hockey League.
The new owner is Mississauga businessman Elliott Kerr.
"I firmly believe Elliott's knowledge of the Mississauga community coupled with his day-to-day operational involvement will establish a very bright future for the organization and the hockey team," Melnyk said in a statement Friday.
Melnyk helped rescue the financially challenged Majors when he bought the team in 2001.
During Melnyk's 11-year ownership, the Majors only missed the playoffs once. The team was a finalist for both the J. Ross Robertson Cup (OHL Championship) and Memorial Cup.
As part of the sale, the St. Michael's Majors reverts back to St. Michael's College School.
The Mississauga OHL team will be re-branded with a new name and logo.
Melnyk, an alumnus of St. Michael's College, says he will donate all Majors branded hockey equipment and jerseys to the school for its hockey team.
Kerr, who runs the Landmark Sports Group sports agency, was part of the original Mississauga ownership group and also owned a minority stake in the Guelph Storm.
Kerr and partner David Livingston sold their interest in the Storm to fellow owners Rick Gaetz, Rick Hoyle and John Heeley. The Storm said coach Scott Walker has also joined the ownership group.