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CFL Argos Owner Confirms He's Been Approached By Two Prospective Buyers

CFL Argonauts Owner David Braley acknowledged that he has been "approached by two new potential bidders" for the club, according to Curtis Rush of the TORONTO STAR. A prospective buyer two weeks ago "emerged with the idea of setting up the Argos as a not-for-profit corporation." The economic model would be "similar to the community-owned teams which are successfully run" in the CFL's Western Division. Braley said, "I’m trying to evaluate how that one would work." Rush notes there would have to be "enough interest in the community for each party to buy a share in the team so there is enough working capital." But Braley "wouldn’t necessarily give up ownership." Braley, who is 73 and also owns the B.C. Lions, has said that he "wants to sell one team before he turns 75." Most of the speculation is that Braley "would unload the Argos." Braley said, "Maybe the Lions get sold first and I still own the Argonauts until I can fix them. There’s nothing cast in stone. Whatever is good for the team. Whatever is good for the league, and whatever is good for the city of Toronto and B.C., that’s how it’s going to happen." Rush reports another offer "came in about six months ago, and Braley is not sure how strong the proposal is" (TORONTO STAR, 9/17). Braley said, "I don’t have multiple offers. I’ve had multiple people approach me, that’s the truth. It’s now three but that’s beside the point." The CP's Dan Ralph noted Braley would not specify if MLSE was "one of the parties interested in the Argos." But he was "adamant his top priority is reaching a lease agreement with MLSE for BMO Field." The Argos’ lease at Rogers Centre runs out at the end of the '17 (CP, 9/16).

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