Nov. 11: CF Montréal owner Joey Saputo (pictured) has begun a formal process to sell the Major League Soccer club, more than three decades after he founded it, and has not ruled out an out-of-town buyer.
Saputo was emotional when he made the announcement. “This decision is not driven by urgency, nor dictated by circumstances,” he said. “It is the result of careful and deliberate reflection on where we are today and, more importantly, on the opportunities we have at the club.”
He said he wanted an owner who would keep the club in Montreal, but was blunt when asked about the move.
“I’m not going to discount the club to the point of giving it away just to give it away,” he said. “If an owner comes in who doesn’t have the ability to keep the club at the level it needs to be and spend the money that needs to be spent to bring in the players this city wants to see, then I’m not going to do anyone any favors by selling it to someone just to keep it here.”
He did not give a price or a timeline. The sale will be made with MLS and the club’s investment banks.
The numbers have changed dramatically since Saputo paid a $40 million expansion fee in 2012. Sporting Kansas City sold a majority stake this year at a $700 million valuation, and a share of Columbus Crew was $900 million. Montreal has been estimated to be one of the least valuable clubs in the league, at around $435 million. It owns Stade Saputo, which holds just over 19,000, but MLS’ move to a winter schedule raises questions about playing outdoors in a Montreal winter.
The club has also been one of the lowest spenders in MLS, something Saputo acknowledged when he said the next owner needs to “start spending in line with some of the other teams.”
Saputo founded the Montreal Impact in 1992 and is also the president of Bologna. Montreal now joins Vancouver, also in the process of being sold, as Canadian clubs that could move. Phoenix, Indianapolis and Detroit are among the cities interested in MLS teams. Montreal fans will remember how the Expos ended.
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