CFL takes over ownership of Montreal Alouettes franchise
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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.
The CFL says it has “initiated an accelerated and formal sales process, which is being led by its investment banking partner, Park Lane, a leading sports-focused advisory firm whose clients include major league sports properties around the world.” The league added “multiple parties” have expressed “serious interest” in purchasing the Alouettes, including individuals, groups and businesses “that reside or operate in Montreal or elsewhere in Quebec.”
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