Negotiations on Argos sale continuing past deadline

BMO Field Renovation Groundbreaking Ceremony

Talks between the Toronto Argonauts owner David Braley and Maple Leaf Sports and Entertainment regarding the sale of the club are continuing past the May 4 deadline.

Outgoing MLSE  president and CEO Tim Leiweke told the Exhibition Place board in late April that they were just days away from a possible deal that would include the sale of the team and a $10 million contribution towards renovations at BMO Field but an agreement had to be reached by today to allow enough time to alter construction plans to accommodate football in time for the 2016 season.

But negotiations are still continuing, according to statement issued by the club today.

“From the club’s perspective, conversations are ongoing regarding a potential sale of the Argonauts and a lease agreement for the team at BMO Field,” the statement read. “We can’t speak to the comments made by Mr. Leiweke, but we understand there is flexibility in the dates and timing that were provided.”

Reports suggest that the negotiations involving Braley, Tanenbaum and Bell are complicated by the fact that Rogers owns a 37.5 per cent stake in MLSE, with Bell owning a 37.5 per cent stake and Tanenbaum owning the final 25 per cent. While the deal makes sense for Bell – it owns TSN, exclusive broadcaster of the CFL – Rogers reportedly does not want to be involved in any ownership group to buy the Argos.

– with files from the Toronto Star.

 

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