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SBD/March 30, 2012/Franchises
Flames Become Majority Owners Of CFL Stampeders, Adding Fifth Team To Portfolio
Published March 30, 2012
DEAL DETAILS: The GLOBE & MAIL’s Allan Maki cited sources as saying that the deal will see the Flames ownership in the Stampeders “rise to 70 per cent from the previous five per cent.” The majority of the original owners, including Forzani and Mitchell, will “remain on board in a lesser capacity.” Forzani said, “This was not a money deal. Ask yourself this question: what’s in the best long-term interests of the Stampeders? The answer is: we wanted to be run by a very professional organization that is in the business of operating sports franchises.” King said that the Flames’ six-man ownership group "‘is moving to become a sports corporation’ so it can best operate its growing list of properties.” Flames Owner Al Libin, Senior VP/Finance & Administration John Bean and King along with “three original owners will form the Stampeders’ new six-man executive board and oversee the football team’s operation.” King said the Flames will lend their manpower and expertise to “ticket sales, marketing, human resources, promotions” (GLOBE & MAIL, 3/30).