April 22nd, 2024

Elks may be looking to sell to private owners after 75 years of community ownership

By The Canadian Press on March 14, 2024.

The Edmonton Elks may be looking to sell to a private ownership group for the first time in the franchise's 75-year history. The logo for the Edmonton Elks is seen at Commonwealth Stadium in Edmonton, Tuesday, June 1, 2021. THE CANADIAN PRESS/Jason Franson

EDMONTON – The Edmonton Elks may be looking to sell to a private ownership group for the first time in the franchise’s 75-year history.

The Elks say that the team’s president and the chair of its board provided an update to the Canadian Football League’s Board of Governors on its ongoing ownership review yesterday.

That update is based on the findings of a special committee working with Park Lane, a sports investment bank that managed the sale of the Montreal Alouettes a year ago.

The special committee will bring its recommendations to the Elks’ board of directors, who will then decide the best ownership for the CFL club going forward.

Edmonton’s football team has been community-owned since it was founded in 1949.

The team had an operating loss of $3.3 million in 2022, the fourth straight year the community-owned club ran a deficit.

This report by The Canadian Press was first published March 14, 2024.

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