Senators owner Eugene Melnyk willing to spend if deal is right

Senators owner Eugene Melnyk says he's in it to win it in his arbitration faceoff with Dany...

Senators owner Eugene Melnyk says he's in it to win it in his arbitration faceoff with Dany Heatley. (ERROL MCGIHON/QMI Agency)

BRUCE GARRIOCH, QMI Agency

, Last Updated: 9:28 PM ET

Eugene Melnyk will spend his money wisely.

The Senators owner told TSN 1200 Wednesday he’s lost $110 million since rescuing the club out of bankruptcy in 2003 and while he won’t spend to the salary cap he is willing to add a player at the deadline to help Ottawa go further.

“I’ve done it. We’ve done it. We’ve spent to the cap three straight years and, you know what, what did we get done? We spent money for nothing. We didn’t get into the playoffs one year and we got one round another year,” said Melnyk.

“That’s not the way to win. You’re not going to do it. It’s a whole new ballgame. It’s all development, coaching, staying young and staying healthy. The big commodity we have is cap space. If we have an injury, and we need to fill a void and that’s going to be the difference in going an extra round or deeper then I’m prepared to do it.”


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