CF Montreal put up for sale, door open for relocation

CF Montreal owner Joey Saputo announced Monday that the club is up for sale, creating the possibility of relocation.

"If the club doesn't find a local buyer and I get an offer where the club needs to be relocated, then I have no choice," Saputo said on Monday. "That is the decision I will take."

Saputo founded the club in 1992 as the Montreal Impact and later joined Major League Soccer in 2012.

He and his family will continue to run the club during the process of finding a buyer and said, "It was simply time" to sell.

Saputo and his family will remain in charge during the sale process, he said, but he felt it was important to announce the process ahead of meeting with potential new ownership groups.

"After 33 years, I simply believe it is the time to pass the torch," Saputo said in a statement. "We believe this is the right time to welcome a new ownership group with the resources, vision and commitment to build on the strong foundation we've built."

Saputo said he would prefer the team remain in Montreal, but said he is open to finding the best possible buyer even if it means relocation.

"As much as I would love for this club to be here, if someone has the capacity to do it, and I feel that they have the capacity to do it, then I would love for this club to be here, and stay here and continue to build on what we did," Saputo said. "But if there isn't and there's an offer that comes in to relocate the club and it's in line with Major League Soccer and what they want to do, then yeah, that's where it's going to be."

Montreal finished last in the MLS Eastern Conference this season with 26 points and a league-worst six wins.

Montreal has often been criticized for being one of the league's lowest-spending teams. Saputo said the club was working with Olympic Park to find "a lease that will bring us in line with some of the other teams, and maybe at that particular point in time, we can start spending in line with some of the other teams."

But Saputo said putting the team up for sale was not an economic decision.

With Montreal up for sale, now two of the three Canadian MLS teams are on the market. Vancouver majority owner Greg Kerfoot recently announced the Whitecaps were also up for sale.

"When something has been part of your life for so long, the decision to let go is done with a great deal of emotion," Saputo said.