Its official: the Ottawa Senators are relocating after years of speculation

The Ottawa Senators took a major step Friday toward the downtown arena that the team and its fans have been coveting.

League sources say the Senators and the National Capital Commission have officially signed a lease agreement for the land at LeBreton Flats, moving the arena project a step closer to reality, according to Postmedia's Bruce Garrioch.

The lease was signed just in time, as the memorandum of understanding, signed originally in 2022, was set to expire. Added to the new arena, the plan calls for a surrounding entertainment district, NHL reporter Bruce Garrioch said.

LeBreton Flats is located about two kilometers southwest of Parliament Hill and three kilometers from the bustling ByWard Market district.

This downtown arena has long been a dream for this team, which has met with little but failure over the past decade-plus, particularly at the hands of previous owner Eugene Melnyk. Securing this land deal was one of the last accomplishments of Melnyk, who died a couple of years ago.

The downtown arena project has been one of the top priorities for new owner Michael Andlauer since buying the franchise in 2023. Andlauer called LeBreton Flats "the most desirable land available in any major North American city" during his introductory press conference.

The Senators have played their home games in the Canadian Tire Centre in Kanata, which is 27 kilometers west of downtown Ottawa, since 1996, making them the team with the furthest arena from the downtown core than any other NHL team.