The Canadian Football League (CFL) regained control of the Montreal Alouettes and officially began selling the team on Tuesday.
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In addition, the Circuit has reinstated Mario Cecchini as President. However, he will temporarily return to his position, the CFL said in a press release.
“Ownership of the Montreal Alouettes has been transferred to the CFL. Mario Cecchini has been appointed as the team’s interim president and will lead the organization’s day-to-day operations under the direction and supervision of the league office.
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The CFL also clarified that an “accelerated and formal sale process” has been initiated. This is led by investment bank Park Lane.
“Several groups have already expressed a strong interest in buying the Alouettes, including groups whose members live or work in Montreal or in the province of Quebec,” specified the CFL.
It is the end of the connection between the “Sparrows” and the estate of the late Sid Spiegel and his son-in-law Gary Stern. The two men had bought the Montreal club in 2020. Spiegel died the following year and his estate inherited his shares (75%) in the organization.