Elks to review ownership structure due to financial struggles

The Edmonton Elks have created a five-person special committee to review their ownership structure.

The Edmonton Elks have created a five-person special committee to review their ownership structure.

The community-owned Elks cited financial reasons for the decision approved by the board late last month.

"The Club's financial struggles over the last several seasons can't be overlooked," Elks president and CEO Rick LeLacheur said in a release on Thursday. "The impacts of the COVID 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 committee consists of current and previous board members: Tom Richards, Brent Hesje, Darryl Boessenkool, Diane Brickner and Bruce Bentley, the chair of the committee. LeLacheur is also on the committee as a non-voting member.

The committee will make recommendations to the board, who will ultimately decide the best course of action, the club said. There is no firm deadline for the process.

The Elks have been community-owned since 1949.