The Hamilton Tiger-Cats have set a financial record in the Canadian Football League, according to TSN reporter Dave Naylor.
It’s believed that the recent transaction that saw local steelmaker Stelco take on a 40 per cent share of the Tiger-Cats, Forge FC of the Canadian Premier Soccer League, and the lease at Tim Hortons Field, placed a value on those assets of more than $50 million.
That means Stelco paid roughly $20 million for its 40 per cent share, quietly marking the highest valuation of a CFL franchise in history.
The existing ownership group led by Bob Young will retain majority ownership of the Hamilton Sports Group and continue to manage the Ticats and the Canadian Premier League’s Forge FC.
Stelco is an independent steelmaker with one of the largest steelmaking facilities in North America. Its steel products are supplied to customers in the construction, automotive, energy, appliance, and pipe and tube industries across Canada and the United States.
Young took over ownership of the Tiger-Cats in 2003 and has invested tens of millions in the franchise to build real economic value.
