The Ottawa Senators Foundation issued a statement on Thursday saying its ties with the NHL franchise will end next month.

"On July 31, 2020, the agreement between the Ottawa Senators Foundation and the Club, which grants the Foundation the right to use Club trademarks, including the Ottawa Senators name, expires," the statement read.

"For 22 years, the Foundation has benefited immensely from its relationship with the Ottawa Senators Hockey Club. We have worked closely with the Club, its players, alumni, staff, corporate partners and fans as well as the community at large, and together we have made a measurable difference in the lives of children and youth throughout the National Capital Region.

“We are proud of what we have accomplished together, from the construction of Roger Neilson House and 15 SENS RINKs, to our long standing partnership with CHEO and its Foundation, to providing thousands of no-cost opportunities for kids to play sports, attend summer camp, pursue an education, or access physical and mental health services via programs we have funded with incredible charities.

“As a first priority, we will look to fulfill our current operational, legal and charitable obligations by July 31, 2020, after which we will focus on the Foundation’s future.

“In the meantime, we thank the Ottawa Senators for 22 years of partnership and the generosity of people and business throughout the region for supporting the work of the Foundation resulting in thousands of game-changing opportunities for kids.

“The Foundation will not be making any further comment at this time."

The Foundation was established in partnership with the Senators in January 1998 "with a mission to empower children and youth to reach their full potential by investing in social recreation and education programs that promote both physical and mental wellness."

It has raised more than $31 million in the last five fiscal years of operation, with net proceeds granted to charities and projects throughout eastern Ontario and western Quebec.