Argos sold to Bell, MLSE chairman Tanenbaum; plan to move to BMO Field in 2016

The Toronto Argonauts confirmed Wednesdsay they've been sold to Bell Canada and MLSE minority owner Larry Tanenbaum in a joint agreement.

Additionally, the club announced they will be moving to downtown Toronto's BMO Field for the 2016 season.

The sale was announced at a press conference attended by CFL commissioner Jeffrey Orridge, Bell president & CEO Gorge Cope, former Argonauts owner David Braley, new Argonauts part-owner Tanenbaum, and Toronto mayor John Tory, as well as Argos players Chad Owens and Andre Durie.

"The Argos and the CFL are an incredibly important part of not only Toronto, but the cultural landscape of Canada," said Tanenbaum. "We believe this new chapter will only strengthen our CFL story right now."

The new ownership voiced its commitment to ensuring long-term sustainability of the Argos in the city of Toronto.

"This league is an exciting place right now, we are squarely focused on the future," assured Orridge.

During the presser, Tory suggested the city will host the Grey Cup in 2016, which Orridge did not confirm.

President and CEO of Maple Leaf Sports & Entertainment, Tim Leiweke also made an appearance, fielding questions about BMO field renovations and pitch conditions, including implementing real grass to the field.

"Both (Toronto FC and the Argos) will have to make sacrifices to make this work," said Leiweke. "It's a unique situation."

When asked about Toronto FC fan frustration over the Argos potentially being detrimental to field conditions, Tanenbaum assured the quality of the pitch will remain up to standards.

"There are no compromises for Argo or TFC fans," said Tanenbaum. "That field will be equally as good for both sports."

"Toronto is the biggest media market, it is also the biggest commercial market," said Orridge. "It's a new era for the CFL."