The Edmonton Elks of the CFL has “struck a committee to review its ownership structure” as the club deals with “mounting losses,” according to the CP. The Elks have been “community-owned” since its founding in 1949, but interim president & CEO Rick LeLacheur said that there “has been interest in the club from potential private owners.” LeLacheur, who serves on the committee as a non-voting member, said in a statement earlier Thursday that the “club’s financial struggles over the last several seasons can’t be overlooked.” In 2022, the team had an operating loss of $3.3M, marking the “fourth straight year” the community-owned club ran a deficit. LeLacheur said that he is “confident the team will operate in 2024,” but “new investment is needed for the future.” LeLacheur: “We are going to need a capital investment on the club going forward, because it’s going to take us a couple of years to get out of these losses we’ve been accumulating on an annual basis” (CP, 11/24).
The Edmonton Elks have been community-owned since its founding in 1949, but given recent financial struggles the structure is being evaluatedGetty Images
