CALGARY — The Calgary Flames are becoming the majority owners of the CFL’s Stampeders.
The NHL club has had a five per cent share for the past few seasons.
But the Stamps announced today the Flames will become the football team’s “majority and operating partner.”
Stamps chairman John Forzani calls the move a positive step that is in the best interest of the team.
The closing of the transaction is subject to league and other approvals and is expected to take place in the next few weeks.
The existing ownership group comprises Calgary businesspeople, including several former players.
Some of the more public faces of the group included Ted Hellard, Doug Mitchell and John Forzani while former players Dave Sapunjis and Bob Viccars were also involved.
They bought the team in 2005 from California businessman Michael Feterik.
He became the third private owner in club history in 2001 after a deal with Calgary’s Sig Gutsche, who took over in 1996.
Calgary businessman Larry Ryckman had privatized the CFL club in October 1991 to become its sole owner.