Montreal ownership

[The Zipp]

DEVELOPING: Outspoken minority owner Gary Stern is stepping away from day-to-day operations with the Montreal Alouettes and resigning from his role with the CFL?s board of governors, effective immediately.

Hopefully not something health related...

[pjrocksmb]

o no

[Throw Long Bannatyne]

DEVELOPING: Outspoken minority owner Gary Stern is stepping away from day-to-day operations with the Montreal Alouettes and resigning from his role with the CFL?s board of governors, effective immediately.

Hopefully not something health related...

That does not sound good, he came on board with a lot of enthusiasm, sounds like it may be an ownership issue as he only has a 25% stake in the Als and his father-in-law's estate owns the other 75%.  Sounds to me like the estate of Sid Spiegel may be looking to divest ownership of a money losing organization.

https://3downnation.com/2022/08/29/montreal-alouettes-owner-gary-stern-leaves-team-operations-resigns-from-cfl-board-of-governors/

[Jesse]

That does not sound good, he came on board with a lot of enthusiasm, sounds like it may be an ownership issue as he only has a 25% stake in the Als and his father-in-law's estate owns the other 75%.  Sounds to me like the estate of Sid Spiegel may be looking to divest ownership of a money losing organization.

https://3downnation.com/2022/08/29/montreal-alouettes-owner-gary-stern-leaves-team-operations-resigns-from-cfl-board-of-governors/

Yup. As soon as his father-in-law dies last year, the dream was unfortunately dead.

It?s a real shame it went down like this - it sounds like they had a lot of plans that never had the chance to come to fruition.

[theaardvark]

He has been at loggerheads with the Argo's owners and Ambroise, and I don't doubt they've given him grief about his social media outbursts.  I get his frustration, he's been trying to get the CFL to make changes he thinks will improve the league and improve its survivability, but it feels like he is being either outright ignored, or told to settle down by the league...

[Jesse]

He has been at loggerheads with the Argo's owners and Ambroise, and I don't doubt they've given him grief about his social media outbursts.  I get his frustration, he's been trying to get the CFL to make changes he thinks will improve the league and improve its survivability, but it feels like he is being either outright ignored, or told to settle down by the league...

I bet that has zero to do with it.

He has to ask the estate of his deceased father in law for money, and he hasn?t been able to do the things he wants to do. This was supposed to be two guys living out a dream together, but one of them died.

[Throw Long Bannatyne]

I bet that has zero to do with it.

He has to ask the estate of his deceased father in law for money, and he hasn?t been able to do the things he wants to do. This was supposed to be two guys living out a dream together, but one of them died.

Plus the benefiters of the estate taking a hard look at the numbers and seeing no upside and no end to the drainage of their inheritance money. 

[Lincoln Locomotive]

This really isn't great news for the CFL in general....

[Blue In BC]

Not really sure what it means. He's still a minority owner. So in that sense nothing changes. He'll sell to the family or another entity? Essentially a behind the scenes situation. Doesn't look good from a PR point of view but I'm not sure anything really changes.

The article on 3rd down nation suggests the team will be sold. Does mean Naylor thinks the 25% will be sold or the entire team? It's not like new owners are falling out of trees to take on a CFL franchise.

[theaardvark]

Maybe they find a local ownership group like Vancouver did... and turn things around.  The recent improvements in attendance will make them more attractive...

[Blue In BC]

Maybe they find a local ownership group like Vancouver did... and turn things around.  The recent improvements in attendance will make them more attractive...

In theory that would make sense. In practice I don't know why Stern bailed. Als are still in the race for a play off spot. Things could be worse.

[the paw]

In theory that would make sense. In practice I don't know why Stern bailed. Als are still in the race for a play off spot. Things could be worse.

Stern is being over ruled by the estate, who are the 75% partner.  If they are looking to sell, there is a good possibility Stern would be willing to jump into a local ownership group and bring his 25%.  I don't think he is disenchanted with the league or team, he loves the CFL.  He just lost his partner is all.

[TecnoGenius]

Say what you want about the dude, but MTL has more butts in seats now than in years.  His twitter stuff is publicity, and that's always good.  I like his promises to win games, etc!  Who cares if he's wrong.  Get butts in seats.

I bet Ambrosie is hitting the Pepto... just when things were calming down the in the CFL, he has to deal with the Als yet again.

If Stern is loaded, just buy the whole team.  They have a decent chance at making the cup this year.  Montreal is a city that (unlike BC and TOR) can get behind a winning/championship team.  Lots of merch can be sold after you win the cup.

[theaardvark]

Not sure Stern has as deep pockets as we might think, hence the 25% ownership stake.  He could probably by the other 75% for $1, but then is on the hook for the whole enchilada, which might be too much for him to cover.  Speigel was the moneybags needing a write off...

If Stern can find another angel investor to take on the 75%, and its obligations, there's a hope.  Otherwise, MTL needs a new ownership group, and fast.