Edmonton Elks to be sold to Larry Thompson: CFL source [Video]

Larry Thompson is the new private owner of the Edmonton Elks.

A CFL source requesting anonymity said the former owner of Thompson Brothers Construction, will become the franchise’s new owner.

The source spoke on the condition of anonymity because neither the CFL nor the Elks have publicly confirmed the sale.

With Thompson taking over, the CFL now has just two community-owned franchises — the Saskatchewan Roughriders and Winnipeg Blue Bombers.

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The Elks (2-7) sit last in the CFL’s West Division but have won two straight.

Last November, the franchise formed a five-person committee to evaluate its ownership structure due to financial struggles.

The team, which has been community-owned since it was founded in 1949, reported a $3.3 million deficit in 2022 and was looking for private investment to stabilize its future.

“We are going to …