Edmonton's CFL team has struck a committee to review its ownership structure.
The goal of the five-person committee is to ensure professional football continues to thrive in northern Alberta, the Elks said Thursday in a statement.
Elks interim president and chief executive officer Rick LeLacheur, who serves on the committee as a non-voting member, said the "club’s financial struggles over the last several seasons can't be overlooked."
"The impacts of the COVID pandemic, football operations decisions, and subsequent struggles on the field have all contributed to a difficult financial situation," he said.
The committee includes board members Tom Richards, Brent Hesje and Darryl Boessenkool, along with previous board members Diane Brickner and Bruce Bentley, who serves as chair.
The team had an operating loss of $3.3 million in 2022, which was the fourth straight year the community-owned club ran a deficit.
LeLacheur said he's confident the Elks will operate in 2024, but new investment is needed for the future.
This report by The Canadian Press was first published Nov. 23, 2023.