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Ryan Reynolds' Bid to Own Ottawa Senators Will Not Move Forward

The actor is out of the running to become the next owner of the NHL team

Chris Tanouye/Freestyle Photography/Getty Ryan Reynolds at an Ottawa Senators game
Chris Tanouye/Freestyle Photography/Getty Ryan Reynolds at an Ottawa Senators game

Ryan Reynolds can now consider himself a Free Guy, as his bid for ownership of the Ottawa Senators will not move forward.

The actor, 46, previously tossed his name into the mix of celebrities and billionaires who were looking to purchase the franchise — which reportedly has included The Weeknd, Snoop Dogg, and Toronto billionaires Jeffrey and Michael Kimel.

As previously first reported by PEOPLE, Reynolds' bid — following the death of team owner Eugene Melnyk — was attached to real estate developer Remington Group.

Sources told the outlet that Reynolds, who also owns the Wales soccer team Wrexham A.F.C. with fellow actor Rob McElhenney, and the developer requested an exclusive 30-day window to secure a downtown arena deal, which was ultimately denied — prompting Reynolds to pull out.

Related:Snoop Dogg Competing Against Ryan Reynolds with Bid to Buy the Ottawa Senators: 'Boss Moves'

Matthew Ashton - AMA/Getty Ryan Reynolds
Matthew Ashton - AMA/Getty Ryan Reynolds

A Forbes valuation has put the Senators at $800 million, and there's a May 15 deadline for bids on the NHL franchise, per the outlet.

Back in November, the movie star affirmed his desire to buy the Senators, and was met with an ovation from fans and stick taps from players while being shown on a jumbotron at a game.

Shortly after, he appeared on The Tonight Show and told Jimmy Fallon that he was interested in acquiring the team, but stressed he needed "a partner with really deep pockets," adding that a "sugar momma" or "sugar daddy" would fit the bill.

"It's very expensive," Reynolds said. "And if that doesn't work out, I'll buy a U.S. senator, which anyone can afford."

Related:The Weeknd Joins Bidding War for the Ottawa Senators Against Snoop Dogg and Ryan Reynolds

Matthew Ashton - AMA/Getty Ryan Reynolds
Matthew Ashton - AMA/Getty Ryan Reynolds

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NHL commissioner Gary Bettman commented on the Vancouver native's efforts in November, calling him a "very popular and well-respected person."

"He was quite articulate on The Tonight Show last night with Jimmy Fallon that he'd be very interested, and he needs either a sugar mommy or a sugar daddy," Bettman said. "Listen, anything that engages a fan base, that brings a lot of attention to the franchise, is a plus."

Of course, other big names joined the bidding, as the Ottawa Sun reported this month that The Weeknd, the stage name for 33-year-old Abel Tesfaye, was interested. As previously reported, the team's price tag may eclipse $1 billion — the most expensive sale in the league's 106-year history.

"He doesn't like to be in the media very often so this really says something that he wants to be part of a bid," a source told the Sun of Tesfaye. "He wants to get this deal done, he wants to build something that will be great in Ottawa and he'll be a good fit. He's got a lot of connections of worldwide."

As for the team itself, the Senators missed the playoffs this season and finished with the sixth-worst record out of the Eastern Conference's 16 teams.

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Read the original article on People.