By Canadian Press

Businessman Pierre Karl Peladeau purchases Montreal Alouettes from CFL

Mar 10, 2023 | 9:26 AM

MONTREAL — Pierre Karl Peladeau is the new owner of the Montreal Alouettes.

The Montreal business was unveiled as the franchise owner by the CFL at a news conference Friday morning at Olympic Stadium.

Peladeau, the president/chief executive officer of Quebecor Inc., has a reported net worth of US$1.9 billion.

Peladeau will represent the Alouettes as their lead governor on the CFL’s board of governors.

The move comes just over a week after the CFL entered into an exclusive negotiation with Peladeau regarding ownership of the franchise.

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The CFL took over operation of the Alouettes last month, appointing former president Mario Cecchini as its interim president.

Cecchini and Park Lane, the CFL’s investment banking partner, helped facilitate the search for a franchise owner.

This report by The Canadian Press was first published March 8, 2023.

The Canadian Press