The Edmonton Elks have created a new committee to review the club’s ownership structure.
The committee was approved last month and consists of current board members Tom Richards, Brent Hesje, and Darryl Boessenkool, along with previous board members Diane Brickner and Bruce Bentley. Bentley will serve as the chair of the new committee with team president and CEO Rick LeLacheur serving as a non-voting member.
“The club’s financial struggles over the last several seasons can’t be overlooked. The impacts of the COVID pandemic, football operations decisions, and subsequent struggles on the field have all contributed to a difficult financial situation,” said LeLacheur in a statement.
“We’re confident in our ability to operate in 2024 thanks to our trust fund, strong season seat renewals, and the support of our sponsors and fans. We will, however, need new investment before the end of next season to ensure the club is positioned to succeed for years to come.”
The committee will make recommendations to the club regarding its ownership for the future. No timeline has been set for this decision, though they will strive for expediency.
“As the committee does its work, we’re preparing to provide winning and exciting football on the field, and an entertaining game day experience,” said LeLacheur. “We’re confident that 2024 will provide a great fan experience and fun for all.”
The Elks have been community-owned since the team was founded in 1949.
CFL commissioner Randy Ambrosie was asked about the possible privatization of the Elks during his annual State of the League address during Grey Cup and declined to speculate.
In August, Richards denied speculation that the team was considering a move to private ownership due to its financial difficulties, citing a reserve fund of $10 million. This came mere days after the Elks mutually parted ways with president Victor Cui, who led the team to a 4-23 record during his tenure as the club’s president and CEO.
Edmonton posted a $3.3 million net operating loss in 2022 as attendance plummeted 9.1 percent. Average ticket sales rose 4.1 percent to 24,774 in 2023 but remain well below pre-pandemic levels.
LeLacheur came out of retirement to take over as the team’s interim president and is expected to remain with the club through 2024. He previously served as the team’s president and CEO from 2002 to 2011, winning a pair of Grey Cups.
The veteran executive later joined the B.C. Lions in the same capacity from 2018 to 2022 and is widely credited with spearheading the sale of the team from the estate of the late David Braley to current owner Amar Doman.
