There are two articles on the same subject this morning in the Globe and Mail. It looks like its a matter of days (hours?) before the Gliebermans buys 51% of the Renegades.
The paper says Lonie Gliebermans is in town to perform a "due dilligence". While I'm no business expert, I believe the due dilligence is the process that involves giving access to your financial books to a buyer who already agreed to buy your property, pending that what he sees in these books match what you already told him about your financial situation.
The article also said that the commish Wright turned down a demand of Ottawa current owners to get league money so they could live through 2005.
As well, Wright sent a letter to the current owners saying the situation in Ottawa is perceived as harmful to the CFL. The word "harmful" was carefully selected by the commish, because in the CFL Constitution, article 3.08 says the league can take over a team even if it hasn't missed a payroll yet if its management is believed to be harmful to the league. The letter was then a way of saying: "straighten things out NOW or I'll straighten you out".
Maybe some of you don't like the Gliebs, but at least it garantees that the Ottawa won't fold again... at least not now.