ryan reynolds officially out on Ottawa Senators bid

The news is disturbing, for the fact that Ottawa couldn't have had a better shot at marketability.

The Remington Group and Ryan Reynolds have officially backed out of the running for the Melnyk-owned team, and there has been no official explanation provided for their decision.

It is disappointing to note that the potential redevelopment of Canadian Tire Centre, as well as the construction of a new Arena downtown, have now been abandoned.

It is unclear what the NHL, Gary Bettman, and the city of Ottawa are looking for in terms of new ownership, but it is evident that Reynolds' ownership group is not a part of their plans.

It is regrettable that another attempt at marketability with Reynolds' ownership group has been axed due to short-sightedness, which is unfortunately the result of being ruled by traditionalists.