HAMILTON, Ontario, Nov. 13 (UPI) -- Bob Young, a successful technology entrepreneur and Hamilton native, Thursday was named the new owner of the CFL's Hamilton Tiger-Cats.
The deal was closed late Wednesday afternoon, according to the team, which had been run by the league since mid-August. The future of the team was left in doubt this summer when the league issued a notice of default for failing to pay players.
By failing to play their players, team owners David Macdonald and George Grant gave the CFL the right to revoke the franchise and take control of it.
On the field, Hamilton was a league-worst 1-17.
Young reiterated his earlier pledge to "make the Hamilton Tiger-Cats the most entertaining team in the CFL."
"We're committed now," he said. "The new Ti-Cats are going to succeed, if only because we are not going to accept the hand we've been dealt. No way are we going 1-17 next year!"
Young will attend his first CFL governors' meeting this weekend in Regina, Saskatchewan.