CFL takes control of the Alouettes
-
- Coach
- Posts: 939
- Joined: Tue Jul 28, 2020 6:16 pm
CFL takes control of the Alouettes
For the 2nd time in 5 years the CFL has assumed control of the Montreal Alouettes. If an ownership group can't be found, does the CFL have the funds to run the Als for the season? I can't see MLSE being too happy about this.
- MarkNelson
- UFLBoard Correspondent
- Posts: 1720
- Joined: Sun Jan 28, 2018 11:09 pm
Re: CFL takes control of the Alouettes
Alouettes in a little turmoil. From this article an explanation of how it came to this.
https://www.cbc.ca/sports/football/cfl/ ... -1.6747518
https://www.cbc.ca/sports/football/cfl/ ... -1.6747518
The probably need to liquidate the estate. The CFL indicates there is some interest in purchasing the team. We will see.The CFL sold the Alouettes to Ontario businessmen Sid Spiegel and Gary Stern, Spiegel's son-in-law, in January 2020. But Spiegel died in July 2021 having never seen the club play as the CFL didn't operate in 2020 due to the global pandemic.
Spiegel's estate had maintained a 75 per cent ownership stake in the franchise, with Stern assuming the other 25 per cent.
UFLBoard: https://uflboard.com/news/author/mnelson/
Author: “XFL 2020: Rise and Fall” https://xfl2020book.com
Coming soon: “XFL 2023: Rise”
Favourite Leagues: XFL and CFL | Fan of the Winnipeg Blue Bombers
Author: “XFL 2020: Rise and Fall” https://xfl2020book.com
Coming soon: “XFL 2023: Rise”
Favourite Leagues: XFL and CFL | Fan of the Winnipeg Blue Bombers
-
- Coach
- Posts: 939
- Joined: Tue Jul 28, 2020 6:16 pm
Re: CFL takes control of the Alouettes
I don't doubt there are interested parties, but if a sale were imminent, why didn't the estate just sell directly and recoup a few few bucks. The XFL had "over 20" interested parties during the bankruptcy auction, only 1 group actually bid.MarkNelson wrote: ↑Tue Feb 14, 2023 12:29 pm Alouettes in a little turmoil. From this article an explanation of how it came to this.
https://www.cbc.ca/sports/football/cfl/ ... -1.6747518
The probably need to liquidate the estate. The CFL indicates there is some interest in purchasing the team. We will see.The CFL sold the Alouettes to Ontario businessmen Sid Spiegel and Gary Stern, Spiegel's son-in-law, in January 2020. But Spiegel died in July 2021 having never seen the club play as the CFL didn't operate in 2020 due to the global pandemic.
Spiegel's estate had maintained a 75 per cent ownership stake in the franchise, with Stern assuming the other 25 per cent.
- MarkNelson
- UFLBoard Correspondent
- Posts: 1720
- Joined: Sun Jan 28, 2018 11:09 pm
Re: CFL takes control of the Alouettes
So true on that the XFL sale. My opinion is someone leaked that rumor that there were many interested parties just to drum up business. Could be the same on this deal. Make it sound like there is a demand?laxtreme56 wrote: ↑Tue Feb 14, 2023 12:34 pm I don't doubt there are interested parties, but if a sale were imminent, why didn't the estate just sell directly and recoup a few few bucks. The XFL had "over 20" interested parties during the bankruptcy auction, only 1 group actually bid.
UFLBoard: https://uflboard.com/news/author/mnelson/
Author: “XFL 2020: Rise and Fall” https://xfl2020book.com
Coming soon: “XFL 2023: Rise”
Favourite Leagues: XFL and CFL | Fan of the Winnipeg Blue Bombers
Author: “XFL 2020: Rise and Fall” https://xfl2020book.com
Coming soon: “XFL 2023: Rise”
Favourite Leagues: XFL and CFL | Fan of the Winnipeg Blue Bombers
-
- MVP
- Posts: 6784
- Joined: Sun Nov 24, 2019 2:27 pm
Re: CFL takes control of the Alouettes
OUCH!MarkNelson wrote: ↑Tue Feb 14, 2023 12:29 pm Alouettes in a little turmoil. From this article an explanation of how it came to this.
https://www.cbc.ca/sports/football/cfl/ ... -1.6747518
The probably need to liquidate the estate. The CFL indicates there is some interest in purchasing the team. We will see.The CFL sold the Alouettes to Ontario businessmen Sid Spiegel and Gary Stern, Spiegel's son-in-law, in January 2020. But Spiegel died in July 2021 having never seen the club play as the CFL didn't operate in 2020 due to the global pandemic.
Spiegel's estate had maintained a 75 per cent ownership stake in the franchise, with Stern assuming the other 25 per cent.
-
- Quarterback
- Posts: 282
- Joined: Wed Jun 29, 2022 10:19 pm
Re: CFL takes control of the Alouettes
The CFL will get through this hiccup. I think local Quebecois ownership will step in to buy the Alouettes.
My money would be the Molson Family stepping up to buy the Als in a corporate setting very much like how MLSE purchase the Argos and the NHL's Calgary Flames own the Stampeders.
The Alouettes need strong stable local ownership this time. This situation is unfortunate since the elder Spiegel died. I mean who could've see that coming
My money would be the Molson Family stepping up to buy the Als in a corporate setting very much like how MLSE purchase the Argos and the NHL's Calgary Flames own the Stampeders.
The Alouettes need strong stable local ownership this time. This situation is unfortunate since the elder Spiegel died. I mean who could've see that coming
- johnnyangryfuzzball
- Head Coach
- Posts: 1932
- Joined: Sat Apr 27, 2019 8:22 pm
Re: CFL takes control of the Alouettes
And regardless of the interest, which basically amounts to a willingness to kick the tires which in no way means they'll want to actually buy the team... has the Alouettes' situation improved at all from before Spiegel and Stern bought the team? Remember, back then, it took years to find a fitting owner, with Vince Russo basically saying the team was in shambles, Eric Lapointe getting flat-out rejected, and Cliff Starke, who faced the same fate.laxtreme56 wrote: ↑Tue Feb 14, 2023 12:34 pmI don't doubt there are interested parties, but if a sale were imminent, why didn't the estate just sell directly and recoup a few few bucks. The XFL had "over 20" interested parties during the bankruptcy auction, only 1 group actually bid.MarkNelson wrote: ↑Tue Feb 14, 2023 12:29 pm Alouettes in a little turmoil. From this article an explanation of how it came to this.
https://www.cbc.ca/sports/football/cfl/ ... -1.6747518
The probably need to liquidate the estate. The CFL indicates there is some interest in purchasing the team. We will see.The CFL sold the Alouettes to Ontario businessmen Sid Spiegel and Gary Stern, Spiegel's son-in-law, in January 2020. But Spiegel died in July 2021 having never seen the club play as the CFL didn't operate in 2020 due to the global pandemic.
Spiegel's estate had maintained a 75 per cent ownership stake in the franchise, with Stern assuming the other 25 per cent.
Since then, the 2020 season was wiped out, 2021 was under the cloud of continued capacity restrictions... their stadium is the smallest in the CFL and still had to be downsized. The situation is an unmitigated disaster, and I don't see another white knight riding in to save it this time.
UNLESS the XFL comes a-calling...
-
- Running Back
- Posts: 141
- Joined: Wed Apr 03, 2019 9:46 am
-
- MVP
- Posts: 6784
- Joined: Sun Nov 24, 2019 2:27 pm
Re: CFL takes control of the Alouettes
>> The Canadian Football League is engaged in exclusive negotiations with Quebecor Inc. about the sale of the Montreal Alouettes, according to a new report from Herb Zurkowsky of the Montreal Gazette.KJE wrote: ↑Fri Mar 03, 2023 12:07 am CFL in exclusive negotiations with Quebecor, billionaire Pierre Karl Péladeau regarding sale of Montreal Alouettes
Quebecor is a Montreal-based media and telecommunications company that operates assets such as Videotron, Groupe TVA, Le Journal de Montreal and Le Journal de Quebec. Their sports and entertainment division currently owns and operates the Blainville-Boisbriand Armada and Quebec Remparts of the Quebec Major Junior Hockey League.
The company is controlled by president and CEO Pierre Karl Péladeau, a prominent businessman and former politician who briefly served as the leader of the separatist Parti Québécois. The 61-year-old Montreal native has an estimated net worth of $1.9 billion USD.
~
A deal to secure much sought-after local ownership in Montreal has not been finalized, but the CFL is working towards an agreement with Quebecor. Negotiations are reportedly being handled by the league’s investment banking partner, Park Lane.<<
This is fantastic news ... if it comes to fruition. CFL could use a break
-
- Quarterback
- Posts: 282
- Joined: Wed Jun 29, 2022 10:19 pm
Re: CFL takes control of the Alouettes
Can't get any better with Quebecor as potential owner. It's French, local and corporate money behind it. Maybe the CEO Peladeau realizes that the NHL ain't coming to Quebec City and that the CFL is a professional league that does. I hope this leads to a CFL team in Quebec City as a 10th team. Get 'er done Randy