Alouettes minority owner Gary Stern stepping away from team effective immediately
Posted August 29, 2022 11:47 am.
Montreal Alouettes minority owner and CEO Gary Stern is stepping away from his roles, effective immediately.
“I write to you today to let you know that I have reluctantly, but firmly, decided to step away from my role on the CFL Board of Governors and my active day-to-day role as operational partner with the Montreal Alouettes,” Stern wrote in a letter to fans. “My one-quarter ownership stake in the team will remain.”
Stern owns 25 per cent of the Alouettes, and will retain his share of the team, but will no longer be directly involved.
The other 75 percent is owned by the late Sid Spiegel’s estate. Spiegel passed away before the start of the 2021 season and never got to see his team play.
“Today, decisions related to team financing and operations rest with Sid’s estate,” Stern wrote. “The close partnership Sid and I had, which included our shared love of sports and our ability to grow our team the way we have invested and grown our other joint businesses for decades, no longer exists.”
In addition to stepping away from the franchise, Stern will also resign from the CFL board of directors. Stern has also deleted his Twitter account.
