BREAKING: The Cypher Systems Group (CSG) — John Savage, his brother Stephen Savage and Brian Schwab — will now take a controlling interest of the club.
there is a change in the local ownership of the Ontario Hockey League (OHL) team.
The Cypher Systems Group (CSG) — John Savage, his brother Stephen Savage and Brian Schwab — will now take a controlling interest of the club.
A statement released Thursday said "after much thoughtful discussion with several potential buyers, we have concluded that it is in the best interest of the Spitfires for ownership to remain within the existing group. We have determined that CSG will take both a controlling interest in the club, as well as a more participatory role in its operation."
However, the CSG owners — who also own the LaSalle Vipers of the Greater Ontario Junior Hockey Leage and the Lakeshore Canadians of the Provincial Junior Hockey Leage — are not commenting on how much of a stake they are taking in the club. There is also no information on the shares owned by Bob Boughner and Warren Rychel, who have owned the Spitfires since 2006.
No financial terms have been announced, and the deal is still subject to approval by the OHL Board of Governors, which meets next week.
Boughner is a two-time OHL Coach of the Year with the Spitfires while Rychel has been the General Manager of the team since taking over as part owner.
The Spitfires have won Memorial Cups in 2009, 2010 and 2017.
The statement goes on to say "The Windsor Spitfires are enthusiastic about the 2019-20 season. Our team has an incredibly strong player lineup, which will see a few changes to round out the roster and deliver the hockey experience our fans deserve. Additionally, we will be adding and improving elements within the rink to elevat our overall fan experience."
The current ownership group earlier
released a statement in April confirming discussions were underway for the sale of the club.
It was believed that Dr. Azim Parekh, the Founder and CEO of the Smiles First Corporation in Markham, was the buyer after the Spitfires drafted his two sons in the spring.
Windsor used the fifth pick in the Under-18 Draft to select Aydin Parekh, a 5-foot-9, 190 pound defenceman. The Spits also selected his younger brother Isa Parekh, a 5-foot-9, 113 pound defenceman, in the annual Priority Selection.
Calls to Dr. Parekh have not been returned.
Boughner, Rychel and Peter Dobrich purchased the Spitfires team from Steve Riolo on April 6, 2006.
John and Stephen Savage and Brian Schwab purchased a stake in the Spitfires in May 2013 as Dobrich sold his share of the franchise.
The statement goes on to say "CGS has demonstrated their proven commitment to the Windsor community over the past 35 years, not only through their various business ventures, but most recently through their investment in the revitalization of the downtown core and the rehabilitation of a number of buildings include the Old Fish Market, among others."