CFL's Edmonton Elks announce Alberta businessman Larry Thompson is new owner

The Edmonton Elks have announced Larry Thompson as the CFL team's new owner.

The former owner of Thompson Brothers Construction and longtime fan of the club is the Elks' first private owner.

With Thompson taking over the Elks, the Saskatchewan Roughriders and Winnipeg Blue Bombers are the last two community-owned teams in the league.

The Elks (2-7) sit last in the CFL's West Division and haven't made the playoffs since 2019.

Last November, the team, which has been community-owned since it was founded in 1949, reported a $3.3 million deficit in 2022.

It was the fourth straight year the club ran a deficit.