Latest on Edmonton Elks' Search for Private Ownership: Decision Getting Close

Originally posted on CFL on FanNation | By Anthony Miller | Last updated 3/15/24

Since November, the Edmonton Football Club Board of Directors has been looking into the possibility of the Edmonton Elks being privately owned. It appears that the franchise could be one step closer to achieving that for the first time in its history.

TSN reporter Dave Naylor reported Thursday morning that the club has been working with Park Lane to assist in the sale. There have been more than a dozen non-disclosure agreements signed since Park Lane reached out to potential buyers.

The club released a statement Thursday regarding the search for private ownership of the organization.

Statement from the Edmonton Elks regarding the Club's ongoing ownership review.#OurTeamOurCity #CFL https://t.co/h0yJbyu0xm
— Edmonton Elks (@GoElks) March 14, 2024

“On Wednesday of this week, Edmonton Football Club Board Chair Tom Richards along with President and CEO Rick LeLacheur provided an update to the Canadian Football League’s board of governors regarding the club’s ownership review. As announced November 23, 2023, the club has formed a special committee to conduct a review of the club’s ownership structure. The special committee will bring forward recommendations to the club’s board of directors, which will ultimately determine the best ownership structure for the club moving forward.”

“The committee’s work has been ongoing since November and has included engaging with Park Lane to assist in the process. The club has no further updates on the special committee’s work at this time and will provide more details when appropriate.”

Naylor added that the committee is looking for an owner who has ties to the Edmonton community, but they don’t necessarily have to live there. The club is targeting the middle of June to select an owner.

Edmonton opens the season at home on June 8 against the Saskatchewan Roughriders.

This article first appeared on CFL on FanNation and was syndicated with permission.

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