A deal to sell the Toronto Argonauts and move them to the more intimate facility at BMO Field in time for the 2016 season could be only days away.

It emerged this week that Maple Leaf Sports and Entertainment chairman Larry Tanenbaum and Bell (part owners of MLSE) are negotiating to buy the Argos and contribute $10 million to ensure that stadium renovations meet CFL standards.

Some frequently asked questions about the potential Argos sale and move:

What conditions are attached to the deal?

A new owner wants the CFL to guarantee that BMO Field at Exhibition Place would host the Grey Cup game twice within 10 years. Interim CFL commissioner Jim Lawson said he doesn’t think the league’s board would have a problem with that condition.

Who are the key parties involved?

Lawson has been monitoring talks between Argos owner David Braley, Bell, Tanenbaum and MLSE, which runs the city-owned BMO Field. City councillor Mark Grimes (open Mark Grimes's policard), chairman of the Exhibition Stadium board, has also been kept apprised of developments. (Jeffrey Orridge took over as CFL commissioner Wednesday.)

Why is Braley trying to sell the Argos?

Braley bought the Argos in 2010 from David Cynamon and Howard Sokolowski even though he already owns the B.C. Lions. There’s nothing in the CFL’s constitution preventing one person from owning two different teams. Braley is 73 and wants to sell one team before he turns 75. The Argos have been losing money for years. The Lions are in better financial shape.

Why do the Argos have to move?

Their lease at Rogers Centre expires at the end of 2017 and the Jays want them out so they can put down natural grass. Also, the Rogers Centre is so cavernous, seating more than 50,000 for football, that it’s not a great football environment when fewer than 20,000 are in the stadium. They averaged less than 18,000 last year.

If the Argos move by 2016, does that mean the Jays can play on grass next season?

No. Steven Brooks, Blue Jays senior vice-president of operations, said if the Argos left Rogers Centre before the lease ends in 2017, it would not speed up the installation of real grass. “There is still significant investigation, analysis and research to do as to the feasibility of real grass,” he said in an email.

Why are Larry Tanenbaum and Bell in talks to buy the team?

There were other groups who had interest in buying the Argos, but they were not realistic bidders because they didn’t have a stadium. MLSE has a lease at BMO Field, a property owned by the city of Toronto. Bell owns TSN and has broadcast rights to the CFL. A strong CFL team in Toronto can only help ratings.

Are there any other suitable stadiums?

No. There are other stadiums with great locations in the city, but they are too small. The Argos need a crowd of at least 20,000 a game to break even or make a profit. At BMO, after renovations, they’d be able to host 30,000 fans.

What is the deadline for the deal?

On Friday, outgoing MLSE CEO Tim Leiweke told the Exhibition Place board that the clock had ticked down to 10 days (May 4) to allow enough time to alter construction plans so the soccer field can accommodate football in time for the 2016 season.

Loading... Loading... Loading... Loading... Loading... Loading...

What are the hurdles involved?

Reports suggest that the negotiations involving Braley, Tanenbaum and Bell are complex. Rogers owns a 37.5 per cent stake in MLSE. Bell also owns 37.5 per cent while Tanenbaum owns 25 per cent. Rogers reportedly does not want to be involved in any ownership group to buy the Argos. BMO Field is owned by the city and managed by MLSE.

Can Rogers block a deal?

Yes. Rogers is playing hard ball with this deal, according to sources and previous reports. Rogers owns Sportsnet, a competing network, and doesn’t stand to gain much from a deal.

What is the financial breakdown?

The total cost of the renovation was pegged at $120 million, with MLSE putting up the initial $90 million. Here’s how the rest of the financing breaks down: A $10 million loan from city, $10 million offered by the new Argo owners and $10 million possibly from the province, but nothing has been officially committed.

How much are the Argos being sold for?

Braley won’t speak publicly about a sale price for the Argos while the negotiations are going on.

Why are TFC fans upset?

BMO was Canada’s first soccer-specific stadium, and home to the national soccer team, as well as Toronto FC. In 2010, natural grass was installed. Supporters of Toronto FC argue that by sharing the field with the Argos, the field will be destroyed by the football team.

Will this result in the Argos moving practice facilities?

No, the Argos will still continue to practise on an artificial turf field at Downsview Park.

Read more about: