MONTREAL (AP) — The Montreal Alouettes have been sold to the Canadian Football League.

The CFL and Robert Wetenhall, the American businessman who owned the team since 1997, and his family confirmed the move Friday in a statement released by the league.

"We want to reassure Alouettes' players, coaches, staff and fans that this is part of an orderly, step-by-step process that is entirely devoted to putting in place a new foundation for the Alouettes' and the CFL's success" CFL Commissioner Randy Ambrosie said. "Our conversations have led to significant interest by new ownership groups and we are confident in the process we initiated many months ago."

Wetenhall resurrected the Alouettes in 1997 after they were revoked from Michael Gelfand and declared bankruptcy. Wetenhall also assumed the organization's debts despite not legally being obligated to do so.

Early in Wetenhall's tenure, the Alouettes were a CFL powerhouse. From 1999 to 2012, they finished atop the East Division nine times and advanced to the Grey Cup on eight occasions, winning three.

But Montreal hasn't been to the Grey Cup since winning it in 2010. The club has missed the CFL playoffs the past four seasons, amassing a 21-51 record over that span.