Kevin Garinger, President of Humboldt Broncos holds a press conference at the Humboldt Uniplex on April 7, 2018 in Humboldt, Saskatchewan after a bus carrying a junior ice hockey team collided with a semi-trailer truck near Tisdale and Nipawin, Saskatchewan province, killing 14 people. Hockey-mad Canada was in mourning on Saturday after a bus carrying a junior ice hockey team collided with a semi-trailer truck in Saskatchewan province, killing 14 people.In a country where love of the sport is almost a religion, the crash sparked an outpouring of grief among players and fans on social media, while national political leaders expressed their sympathies.'We can now confirm 14 people have died as a result of this collision,' the Royal Canadian Mounted Police said in a statement, which did not say how many of the victims were players or coaches of the Humboldt Broncos team. / AFP PHOTO / Kymber RAE

Humboldt Broncos to close GoFundMe campaign, establish memorial fund

KYMBER RAE / AFP / Getty

Humboldt Broncos President Kevin Garinger released a statement Monday detailing how the organization will manage the more than $12 million in donations received following the tragic bus accident that killed 16 people:

Going forward, the Broncos' board of directors, in tandem with their legal counsel, MLT Aikins, and executives at GoFundMe.com head office, have determined that the Humboldt Broncos GoFundMe campaign will remain open for two more days to allow for any additional online donations and will then be closed and taken offline on Wednesday, April 18, 2018 at 11:59 pm MT.

All funds donated will be transferred to a new initiative called the Humboldt Broncos Memorial Fund. An advisory committee will then be established to decide on the allocations of the funds.

The HumboldtStrong Community Foundation has also been established in order to support Broncos' players, employees, families, first responders, and others affected by the tragedy.