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 when he was just 12 years old.
“It is truly an honour to have this opportunity to be part of this team,” Thompson said at a media availability at Commonwealth Stadium Thursday morning. “They’re very near and dear to my heart and I’m a passionate fan of not only the Elks, but the rest of the teams in the league. I watch every football game I can get my hands on.
“I’m just proud to be an owner of a CFL team.”
When asked what his first order of business would be as the team’s new owner, Thompson said the answer is simple.
“We need to bring back our winning ways. That means winning football games,” he said.
“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.
“My success in that community afforded me this opportunity today,” he said.
The team had 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.
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“To move away from 75 years of community ownership was not taken lightly,” said Rick LeLacheur, president and CEO of the Elks.
“Now we are moving into a new era, and that is with Larry Thompson as the club’s proud owner.”
Future brand of the Elks
Edmonton’s football club rebranded to become the Elks in June 2021.
On Thursday morning, Thompson was asked if he was committed to keeping the Edmonton Elks name.
“I don’t think that’s a question for today. Today I want it to be a fun and celebrative day for everybody — the fans, the City of Edmonton, the Elks club, everybody. We will be focusing, just to let you know, in the future, on Double E more.”
CFL commissioner Randy Ambrosie added that he has spoken about the team’s branding with Thompson, and both agree that the Double E — EE — is the way forward.
“The brand that I feel, and I think I speak for the alumni, most strongly about is the Double E. And the Double E, I think, is a big part of Larry’s plan going forward. So I think that, largely, will be the identity of this organization and frankly, I’m very comfortable with that,” Ambrosie said Thursday.
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.
“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.
This year marks the Edmonton football club’s 75th season.
The team’s next home game is on Saturday, Sept. 7 against the Calgary Stampeders.
— with files from The Canadian Press.
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