Quebec Government Weighs State Stake to Keep CF Montréal in City
Officials explore potential equity participation to prevent the MLS club from relocating after sale.
1Ownership Change Sparks Anxiety
CF Montréal owner Joey Saputo officially announced a structured sale process for the MLS club, triggering immediate relocation fears. The city remains deeply scarred by the 2004 departure of the Expos baseball team to Washington. Local officials are now scrambling to ensure the soccer franchise remains in the metropolis.
2Government Open to Equity
Premier Paul St-Pierre Plamondon confirmed the government is willing to evaluate potential state participation as a minority shareholder. While emphasizing that no formal proposals exist yet, he stated that a responsible government cannot dismiss the possibility of investing to secure the club's future within the province of Quebec.
3Economic Minister's Strategic Role
Economy Minister Stéphane Paquet, who also oversees the Olympic Stadium, is actively monitoring the sale. He expressed a clear desire to keep the team in Montreal but acknowledged that the final decision rests with private business interests. He remains open to meeting with any potential buyers committed to staying.
4Rejection of Direct Subsidies
Despite the interest in equity, the government explicitly ruled out traditional subsidies. St-Pierre Plamondon criticized the previous administration's open-checkbook approach, vowing not to write grants that risk public funds. Any state involvement must be structured as a business investment rather than a donation to a private entity.
5Alternative Ownership Models
Discussions regarding the club's future include unconventional structures, such as a community-owned cooperative. Minister Paquet noted that he is open to exploring this model, which has gained some public traction. However, any such arrangement would require careful coordination with Major League Soccer to ensure compliance with league regulations.
6Political Opposition and Skepticism
The official opposition expressed strong reservations about state intervention, citing the province's eight-billion-dollar deficit. Critics argue that now is not the time to invest public money into a private sports club. They suggest the government should act only as a facilitator rather than a direct financial partner.
7Context of Recent Performance
The sale follows a difficult period for the club, which finished last in the Eastern Conference during its most recent season. With only six wins in 34 matches, the team faces both sporting and financial challenges. These poor results add complexity to the valuation and the search for buyers.
8Future Outlook and Uncertainty
The future of CF Montréal remains uncertain as the government awaits formal bids from private investors. While the province hopes to keep the team, the final outcome depends on market forces and the league's approval. Officials will continue to monitor the situation to protect the club's local economic impact.
Original article: La Presse — Quebec Government Weighs State Stake to Keep CF Montréal in City