Calgary Flames owners closing in on deal to sell the team

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Ryan Hall
May 12, 2024 (2:57 PM)

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It was reported recently by David Pagnotta that Calgary Flames ownership is preparing to sell a portion of their team as the organization continues to reshuffle and restructure itself on an off the ice.

The tweet also mentioned that three of the owners who are part of the partnership are getting older in age especially Alvin Libin who is 93 years old. It's likely they're deciding to cash out their portion of ownership and get out of the business altogether well looking to the future of the organization as the team is preparing to build a new arena.

Selling between 15 and 30% of the stake in the team still gives the majority owner control as the organization charts its new path. On the ice, there has been a staggering amount of loss in terms of players wanting to leave the team to find better opportunities.

Exodus does not stop at ownership

This exodus began when Matthew Tkachuk announced he had no interest in signing with the Flames long term along with Johnny Gaudreau who chose to sign with the Columbus Blue Jackets as an unrestricted free agent. Ever since this began, general manager Craig Conroy has had to make decisions on how to trade his stars to regain any form of value as they look to continue the reconstruction.

This summer will be another eventful time for the flames as starting goaltender Jacob Markstrom will likely be traded along with Andrei Kuzmenko There are turbulent times ahead for this organization and it remains to be seen on how the outcome will look.