David Braley finally seems willing to discuss a legitimate asking price for the Toronto Argonauts, which may actually save the bare-bones CFL franchise from the brink of despair.
Sources have told Sportsnet that Braley, the owner of both the Argos and B.C. Lions, met Tuesday with MLSE chairman Larry Tanenbaum. While the two have had talks in the past, they have been far apart on a purchase price for the Argonauts franchise.
MLSE has interest in acquiring the CFL organization and making a renovated BMO Field its new home, but the sides were nowhere close on a legitimate sale price. As Sportsnet reported earlier this month, Braley was seeking $10 million for the Argonauts and at least one prospective buyer was willing to offer $2 million for a franchise that loses at least $3 million annually and attract flies to the box office.
The timing of Braley and Tanenbaum’s meeting — which included the pair attending Tuesday’s Maple Leafs-Florida Panthers game — comes at a curious time in the evolution of BMO Field. The stadium is in the midst of a face-lift, as part of a two-phase construction project which is to be completed prior to the lease running out on the Argos at Rogers Centre in 2017. Specific revisions must be completed to transform BMO into a facility that would accommodate Canadian football measurements and requirements.
“The ball is in David Braley’s court right now,” said an industry source.
Under Braley’s ownership, the Argonauts have stripped the front office administration to a skeleton staff. The vice president of ticketing, as well as the head of marketing and communications were fired in 2014, and much of the marketing department disappeared. The Argos attendance was negligible and the team moved from one facility to another during the season for practice.
After the Labour Day loss in Hamilton last September, an Argos source vented to Sportsnet.
“Our owner is cheap as [expletive],” he said. “(We’ve) got no (healthy) bodies left. It’s a joke.
“Meeting rooms at the facility can’t fit the team. We have curtains as dividers. And we can’t spend to bring in NFL (training camp) cuts with CFL experience.”
While sources said Scott Milanovich was not happy with the situation, he remains the team’s head coach, although two of his assistants left this season for jobs in Ottawa.
While the CFL has not commented on the Argonauts situation, quietly many in the league office have expressed exasperation with the situation. Former commissioner Mark Cohon, in private, acknowledged to friends that Braley’s ownership has not helped the league progress.
“Everyone is losing money on the Argonauts,” said an industry source. “If David Braley believes he can sell the team and walk away with a boat load of money and leave deficits and debts to others, he’s… fooling himself.”
The 2015 schedule has the Argonauts opening at “home,” in Fort McMurray, Alberta.
