CFL takes over ownership of the Alouettes
The CFL has taken over ownership of the Montreal Alouettes and is looking for a new owner to step up.
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Kate
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shawn 12:15 on 2023-02-14 Permalink
Yes I was hoping you’d this. Certainly a big deal for me! Let’s hope the investment banker gets it right, this time.
Kate 12:18 on 2023-02-14 Permalink
I don’t post much about the team because in general nobody here seems to care much about the CFL. I think you’re the first person to have anything much to say about it.
shawn 12:55 on 2023-02-14 Permalink
Yep. Even amongst sports fans here, the CFL doesn’t get much love.
shawn 13:29 on 2023-02-14 Permalink
Although I do think there is something interesting in a good disaster. The team was sold by the league in 2019 to a 90-year-old Ontario businessman with no succession plan. Actuarially speaking, I’m not sure what they thought was going to happen?
Josh 11:58 on 2023-02-15 Permalink
They basically had no other choice, is what I understand from following the story casually, Shawn.
It’s sad, but certainly not unprecedented for the CFL. For several years, the former owner of the BC Lions David Braley (who also chaired the league’s board of governors) effectively “owned” the Toronto Argonauts, too. Obviously it’s a conflict of interest to own two teams in the same league, but the CFL had no other choice.
Seems pretty clear a good setup for sports ownership in Canada is to have several teams in the same city all under the same ownership group. There are versions of this in Calgary, Winnipeg, Ottawa, Toronto and Hamilton, and at the very least, it allows for consolidation of non-athletic staff (marketing, ticket sales, corporate outreach, etc).
shawn 12:16 on 2023-02-15 Permalink
Yes, TSN’s Dave Naylor has been kind of enough to reply to me on twitter a few times and he said pretty much the same thing, Josh. That despite the interest from several pretty impressive groups here, no one else came close to the money offered by Spiegel/Stern.