Joey Saputo is getting out of the Major League Soccer business.
The Montreal-born businessman announced the launch of a structured process to sell CF Montreal.
“After more than three decades of family ownership and leadership, the decision was made to undertake a structured sale process,” Saputo said at a press conference on Monday.
The Saputo family founded the team, then the Montreal Impact, in 1992. The club transitioned into an MLS side in 2012.
Saputo said he believes there remains a strong future for the team and MLS in Montreal.
“The club is stable, well positioned and part of a growing league and market,” Saputo said. “For years, we have worked to establish the winning conditions necessary for CF Montréal’s long-term success. Today, there is a clearer path forward, particularly with the Olympic Stadium and in our pursuit of Canada Soccer’s National Training Centre. We have laid important groundwork, and it is essential that this momentum continues to secure the club’s future in Montreal. Precisely because of that, we believe this is the right moment to begin a structured process to identify the right group to take the club forward and build on what has been accomplished.”
The team is coming off of a last-place finish in the Eastern Conference and a MLS-low six wins in 34 matches. The team has made the playoffs four times in 14 seasons and won three games.
Coaching instability has also become a hallmark of the team. The team has had 11 full-time managers in its 14 MLS seasons, including six since 2019. The most recent manager, Marco Donadel, was fired this past April. Philippe Eullaffroy served as caretaker manager for the remainder of the season.
Saputo says the club will operate normally as the sale procedure commences. The preference would be to sell to a Quebec-based owner. BMO Capital Markets will serve as primary financial advisor.
Saputo remains owner of Bologna. The Serie A side was purchased in 2014.