CFL Sells Toronto Argonauts and Hamilton Tiger-Cats

On November 12, 2003, the Canadian Football League (CFL) entered into a new membership agreement with 3082696 Nova Scotia Company, a company controlled by Bob Young, granting 3082696 a membership in the CFL for the Hamilton area to operate under the Hamilton Tiger-Cats name. Concurrently, Richter & Partners Inc., as interim receiver, completed a sale of the operating assets of the former operator of the Hamilton Tiger-Cats Football Club to 3082696. The value of the transaction was undisclosed.

On November 5, the CFL entered into a new membership agreement with a limited partnership controlled by Howard Sokolowski, CEO, Tribute Communities, and David Cynamon, CEO, KIK Corp., granting the limited partnership a membership in the CFL for the Toronto area to operate under the Toronto Argonauts name. Concurrently, Richter & Partners, as interim receiver of the former operator of the Toronto Argonauts, completed a sale of the operating assets of the Toronto Argonauts Football Club to Sokolowski and Cynamon. With their purchase, the 130-year old franchise returned to local ownership for the first time in 30 years. The deal closed on December 22, and its value was undisclosed.

CFL was represented in both transactions by Torys LLP, with a team that included Scott Bomhof, Gary Solway, Jim Welkoff, Ed Babin, Adam Armstrong, Marc Lavigne and Kevin Andrade. 3082696 was represented by McMillan Binch LLP, with a team that included Ted Scott, William Woloshyn and Michael Campbell, and David Elenbaas (labour), Sharon Groom (trademarks) and Alex MacFarlane (insolvency).

Sokolowski and Cynamon were represented by Goodmans LLP, with a team that included Stephen Bloom, Matt Angus and Mark Ableman (corporate), Amalia Trister (intellectual property), Joe Latham and Derek Bulas (insolvency) and Carrie Smit (tax). Richter & Partners was represented in both transactions by Ogilvy Renault, with a team that included Tony Reyes, Virginie Gauthier and Jennifer Teskey.