Quebecor president and CEO buys the Montreal Alouettes

Mar 10 2023, 5:51 pm

The Montreal Alouettes will have a new face in the owner’s box.

On Friday, the CFL franchise announced that entrepreneur and businessman Pierre Karl Péladeau had purchased the team personally. He is also the president and CEO of Quebecor Inc. and has a reported net worth of US$1.9 billion.

The new owner will keep the Alouettes alive moving forward after the CFL took over last month, following minority owner Gary Stern stepping away from the operations. While Stern and his father-in-law, businessmen Sid Spiegel purchased the club in 2020, Spiegel never saw the team play, having died in 2021.

“I am delighted to be the new owner of the Montreal Alouettes, a team with a long history that has a significant impact on our community because it brings us together,” Péladeau said.

“I want to bring stability and a long-term vision, which will allow us to put Montreal back at the top of Canadian football. I want to thank our fans for their continued loyalty. I would also like to thank the Commissioner of the League, Mr. Randy Ambrosie, and the members of the Board of Governors for their trust.”

Péladeau will represent the Alouettes as the team’s lead governor on the CFL board of governors. He also joins a group of local owners in the CFL, with Amar Doman leading the BC Lions, while local sports and entertainment entities own the Toronto Argos, Calgary Stampeders, Hamilton Ti-Cats, and Ottawa Redblacks.

The Alouettes are also likely to find a new president. Upon the CFL takeover, the league appointed former president Mario Cecchini as Montreal’s interim president. However, Cecchini has since been named the newest commissioner of the Quebec Major Junior Hockey League.

“Our goal in this process was to put the Alouettes on a path to long-term success, ideally under strong, local ownership,” said CFL Commissioner Randy Ambrosie. “This is an exciting new chapter in the story of the Montreal Alouettes.”

Ben SteinerBen Steiner

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