Edmonton Elks’ CEO, board chair to speak to media about ownership structure review

The CEO of the Edmonton Elks will join the football club’s board chair for a news conference on Thursday to discuss a review looking into the CFL franchise’s ownership structure.

“With the goal of ensuring professional football continues to thrive in Northern Alberta, the Edmonton Football Club Board of Directors has created a special committee to conduct a review of the Edmonton Elks ownership structure,” the club said in a news release.

The news conference is scheduled to take place at 11 a.m. local time at Commonwealth Stadium.

“With the goal of ensuring professional football continues to thrive in northern Alberta, the Edmonton Football Club board of directors has created a special committee to conduct a review of the Edmonton Elks ownership structure,” the club said in a news release.

“The creation of the five-person special committee was approved by the club’s board late last month. The special committee consists of current board members Tom Richards, Brent Hesje, and Darryl Boessenkool. They’re joined by previous board members Diane Brickner, and Bruce Bentley, who serves as chair of the committee. Current Elks president and CEO Rick LeLacheur serves on the committee as a non-voting member.”

The Elks have faced challenges over the past few seasons, and the team has struggled to win consistently since winning the Grey Cup in 2015. Those struggles on the field were magnified by a record-setting home losing streak that began in October 2019 and only ended in late August.

The Elks finished the 2023 season with a 4-14 record.

“The club’s financial struggles over the last several seasons can’t be overlooked,” LeLacheur said in a news release. “The impacts of the COVID(-19) pandemic, football operations decisions and subsequent struggles on the field have all contributed to a difficult financial situation.

“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 club said the ownership review committee will bring forward recommendations to the board, “which will ultimately determine the best course of action for the club.”

The Elks said no deadline has been set for putting forward recommendations.

The Elks have been a community-owned football club being founded in 1949.

“As the committee does its work, we’re preparing to provide winning and exciting football on the field, and an entertaining game day experience,” LeLacheur said. “We’re confident that 2024 will provide a great fan experience and fun for all.”