CFL takes over ownership of Montreal Alouettes, initiates sale of team

The ownership of the Montreal Alouettes has been transferred to the CFL with the league initiating a formal sale process for the team.

Mario Cecchini will return as interim president to help guide the team through its day-to-day business operations under the direction and supervision of the league office.

“The league 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 wrote in a statement.

“​Multiple parties have already expressed serious interest in purchasing the Alouettes, including individuals, groups and businesses that reside or operate in Montreal or elsewhere in Quebec.”

The #CFL has acquired the @MTLAlouettes. An accelerated formal sales process, led by the league's investment banking partner Park Lane, has been initiated.

Multiple local and national parties have expressed serious interest. (1/2)

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— CFL (@CFL) February 14, 2023

The team was bought by Gary Stern and partner/father-in-law, Sid Spiegel back in January 2020 with Spiegel taking a 75 per cent ownership stake.

Spiegel died in July 2021 and never got to see the team play with the league canceling the 2020 season because of the COVID-19 pandemic.

Stern took time away from the club’s day-to-day operation as well as his position on the CFL’s board of governors back in August 2022 citing that Spiegel’s death dramatically impacted their plans for the Alouettes.

“Today, decisions related to team financing and operations rest with Sid’s estate,” Stern wrote at the time. “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.”

General manager Danny Maciocia will continue “to focus on the important work of building the team’s roster for the upcoming 2023 season.”

The CFL announcement comes on the first day of CFL free agency.

This marks the second time since 2019 that the CFL has taken over operating the Alouettes.

— With files from the Canadian Press