According to a source, the CFL has reached an agreement to sell the franchise and will make the formal announcement Friday at a news conference in
The source requested anonymity as neither the league nor Alouettes have released details of the agreement.
But the move will come roughly a week after the CFL entered into an exclusive negotiation with
The 61-year-old Peladeau is also a former leader of the Parti Québécois.
It's unclear whether
The CFL took over operation of the Alouettes last month, appointing former president
Earlier this week, the QMJHL announced it had hired Cecchini as its commissioner to replace
But the league said Cecchini wouldn't take over immediately because he was involved in the sale of the Alouettes. The QMJHL added interim commissioner
The CFL's assuming control of the Alouettes marked the second time in roughly four years that it had been forced to do so. The league took over the franchise
The CFL sold the Alouettes to
Spiegel's estate had maintained a 75 per cent ownership stake in the franchise, with Stern assuming the other 25 per cent. Last August, Stern announced he was stepping away from day-to-day operations with the team and leaving his position on the CFL board of governors.
However, Stern didn't give up his ownership stake in the franchise.
Cecchini was hired as Alouettes president in 2020, signing a three-year contract. But last December, Cecchini was informed by Spiegel's estate that his deal wouldn't be renewed.
This report by The Canadian Press was first published
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