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Golden Gate Capital Steps Back from Renegades Bid

April 5, 2006 - Canadian Football League (CFL) - Ottawa Renegades News Release

Ottawa, ON - (April 5, 2006) - Golden Gate Capital announced today that it has informed the Canadian Football League that it will not proceed at this time with continued discussions in regards to the purchase of the Ottawa Renegades Football Club. In a letter to Commissioner Tom Wright, Anthony Primerano, President, confirmed that Golden Gate Capital strongly believes the Ottawa Renegades will be successful in Ottawa-Gatineau under the right ownership. At the same time, he acknowledged, "that the requirements of building and operating the team present challenges in the near term given the short period of time between now and training camp."

Mr. Primerano thanked the CFL for their strong support in the examination process and wished the League success in securing new ownership and rebuilding Canadian football in Ottawa.

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