Pierre Karl Péladeau is the new owner of the Montreal Alouettes of the Canadian Football League.

The news was confirmed by CFL Commissioner Randy Ambrosie during a news conference with the Quebec businessman at Montreal’s Olympic Stadium on Friday morning.

It is important to note that Pierre Karl Péladeau is acquiring the Montreal formation in a personal capacity and not as the owner of the Quebecor conglomerate.

Rumors had been circulating for a few days that the Quebec businessman was the potential buyer favored by the Canadian football world as the franchise returned to league oversight.

“Our goal in this process was to set the Alouettes on a path to long-term success with local and strong ownership,” Ambrosie said in a statement.

“This goal has been achieved. It’s a special day for this franchise and its supporters in Montreal and across Quebec. Pierre Karl’s passion for sports, entertainment and his community is remarkable. I know he will do a great job leading the Alouettes.

“I am very excited to be the new owner of the Montreal Alouettes, a team that has a rich history and is making a significant impact on our community because it brings us together,” said Pierre Karl Péladeau, still per press release.

“I love sports and am a proud Montrealer. The team that I saw at the top of the CFL that won the Gray Cup is our team, it’s the fans’ team. I want to create stability and a long-term vision, conditions that will allow us to bring Montreal back to the top of Canadian football,” he explained.

Jeremy Filosa, who attended the press conference, and Richard Legendre, former Sports Minister of Quebec, comment on the purchase of the Alouettes at the microphone of Luc Ferrandez…