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Sign up for premiumRod Bryden, a successful business executive, became the majority owner of the Ottawa Senators when he acquired Terrace Investments from Bruce Firestone. Bryden managed to secure funding for the Palladium arena project through a number of loans. The Senators filed for bankruptcy on January 9, 2003, due to debt owed its largest creditor, Covanta Energy Corporation, that had filed for bankruptcy on April 2002. As a result of the bankruptcy, the Senators franchise and the arena, known as Corel Centre at the time, was sold to Eugene Melnyk.
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