The Alberta Junior Hockey League (AJHL) has approved a new ownership group for the Olds Grizzlys Junior A hockey team.
That announcement was made Friday (June 30) by the league and the Friends of the Grizzlys. June 30 was the deadline for league approval, set earlier by the AJHL.
It's expected that a press conference will be held later this week, at which time the coaching staff and new management team will be introduced.
"Over the coming days and weeks, we will begin to announce further developments in regards to the team, as well as ways the community can show their support (volunteer opportunities, community events, sponsorship opportunities, season ticket drive etc)," a Friends of the Grizzlys news release says.
Earlier this spring, there was fear the Grizzlys might have to fold, due to concerns over the team's debt, which officially stood at of $321,579.
However, by late last month, a group of 15 private investors ñ including Grizzly alumni and local businesspeople ñ came up with $500,000, enough to cover that debt and still have more in the bank to keep the franchise on solid footing.
