MLSE agrees to buy Argos from Bell, Kilmer Group

Maple Leaf Sports and Entertainment (MLSE) reached an agreement to acquire the Toronto Argonauts on Wednesday, the organization announced.

Terms weren't disclosed and the CFL Board of Governors will have to approve the sale in January 2018.

The Argonauts were purchased by Bell Canada and Kilmer Group in May 2015, with each party holding a 50 percent share.

"Under its current ownership, a transformed Argonauts football club enhanced its presence and fan base in Canada’s largest sports market and ultimately marched to the CFL Championship," Michael Friisdahl, President and CEO of MLSE said. "We look forward to building on the Argos’ strong momentum as we welcome the team to the leading provider of sports and entertainment experiences in Canada."

The Argonauts are coming off a triumphant season, defeating the Calgary Stampeders 27-24 to capture the Grey Cup on Nov. 26, the 17th Grey Cup victory in franchise history.

"On the heels of a stunning Grey Cup showdown with the Calgary Stampeders that highlighted the sheer excitement of Canadian football, we’re thrilled that the Argonauts will be joining the MLSE roster,” CFL commissioner Randy Ambrosie said. "We welcome MLSE to the CFL and look forward to working with them to further enhance the experience for Canadian football fans."