Edmonton Elks introduce new private owner Larry Thompson

August 15, 2024 Canuck

After reports surfaced earlier this week that the Edmonton Elks had a new owner, he was officially introduced by the team on Thursday.

Larry Thompson, former owner of Thompson Brothers Construction, said he’s loved Edmonton’s football team since he started attending games at Clarke Stadium in 1972.

“My family and I can’t wait to bring our passion for the team to the table as owners and build on the club’s proud history of excellence,” Thompson said in a news release Thursday.

“My promise to our fans is that I’ll do everything in my power to ensure the club has the resources to be the best in the CFL and provide a product our fans can be proud of.”

Thompson sold his construction business in 2023. Over four decades with the Spruce Grove-based company, he grew it to include 1,500 employees.

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The team has been community-owned since it was founded in 1949. The Saskatchewan Roughriders and Winnipeg Blue Bombers are now the last two community-owned CFL teams.

“To move away from 75 years of community ownership was not taken lightly,” said Rick LeLacheur, president and CEO of the Elks.

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“Now we are moving into a new era, and that is with Larry Thompson as the club’s proud owner.”

Businessman Larry Thompson is the new owner of the Edmonton Elks. Courtesy / Edmonton Elks

The Elks said Thursday that the sale of the team received unanimous support from the club’s board of directors and the CFL’s board of governors.

“In Larry and his family, we’ve found an ownership team that possesses all the attributes we were looking for to ensure that professional football continues to thrive in Northern Alberta,” said Tom Richards, chair of the Edmonton Football Club’s board of directors.

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“Larry’s passion for the team, vision for a strong community presence, and financial resources gave the board the confidence to pass the baton. We know the future is bright and we will continue to be steadfast supporters of the Double E.”

The football club reported a $3.3-million deficit in 2022 and was looking for private investment to stabilize its future.

In November 2023, a five-person committee was formed to evaluate the team’s ownership structure.

The Elks have a 2-7 record this season and have not made the playoffs since 2019.

After getting off to a 0-5 start to the season, head coach and general manager Chris Jones was fired last month.