The Ottawa Senators remain flat at $1.4 billion, unchanged from last year, while the broader NHL franchise cohort appreciates 4-6% annually. Michael Andlauer's 2023 acquisition locked the team into a modest valuation relative to peer expansion economics. NHL franchises post-2020 typically compound 5-8% per annum; Ottawa's stagnation reflects limited market upside and infrastructure constraints. Regional revenue generation remains constrained by Canadian market saturation and competition from Toronto (Maple Leafs) and Montreal (Canadiens). The flat trajectory contradicts Andlauer's stated growth agenda and suggests investor sentiment has cooled on near-term appreciation. Without material arena upgrades or national revenue pool expansion, the franchise faces structural headwinds that peers leveraging US market entry have already exploited.