Will reports of David Braley's penny-pinching ways in Toronto force action? Or are the Argonauts doomed to remain in limbo for a while?

Current Toronto Argonauts and B.C. Lions owner David Braley is one of the more polarizing figures in the CFL, with people particularly divided on whether his ownership has been good or bad for the Argos. Braley did prop up the team (albeit with secret loans) when no one else would and bought it when no one else wanted it in 2010, preserving the CFL's presence in Toronto. However, his ownership has recently come under fire, with his demands for a high sale price and a percentage of future revenues being cited as a factor in why MLSE hasn't yetbought the Argos. His inability to find them a stadium solution has also been a big part  of the team's current attendance, scheduling and financial struggles. The Argos' marketing budget has reportedly been slashed as well, and several top executives have left. Sportsnet's Arash Madani sent out several tweets critical of Braley Sunday that summarize the case against him and indicate there may be severe problems ahead in Toronto:

Those are some strong criticisms of Braley, and they come from someone within the Argos' organization as well as Madani himself. The criticisms of the team's practice setup are particularly interesting, as the team was supposed to be firmly established in their new training facility (built in partnership with MLSE) by now; their practice/office setup has been a problem for years, but it was expected to get better under this new deal. Apparently, it hasn't. Braley's reported penny-pinching ways are problematic, and they don't speak well of his ownership tenure.
However, there's another side to this. The Argonauts have reportedly been losing tons of money each year under Braley's ownership, and while he made substantial money off the 2012 Grey Cup (and the 2011 one in Vancouver, and he'll undoubtedly make more after getting to host it again in Vancouver this year), those revenues may not cover his losses. Financials for the Argonauts aren't available, but piecing together data from the league's releases and the new TV deal suggests their non-TV finances are either at least $1.85 million worse off per year now than they were in 2012, or that the team was losing money even then despite the Grey Cup.

Moreover, it's not like marketing itself would necessarily fix the team's attendance issues; they've tried all sorts of campaigns and promotions over the years, and few have had a lasting effect. The biggest issue for the team is a new stadium and a better game-day experience (and a better schedule), and until that gets worked out, it's hard to see them being profitable even with boosted revenues from this new TV deal. Gutting the marketing department may not be the wisest approach here, especially for the long term, and it may make things even worse in the short term. It's at least possible to see why Braley doesn't want to keep spending for no apparent return, though.

In the end, however, it's somewhat of a catch-22. Braley doesn't want to pour money into a team he's trying to get rid of, but it becomes much more difficult to sell it in its current state. Say the Argonauts were a crumbling, historic house; Braley deserves praise for stepping in to buy them and preventing their demolition or relocation, but although he's made some minor repairs (such as bringing in a strong football team led by GM Jim Barker and HC Scott Milanovich), he hasn't got anywhere on the major issues (particularly the lack of a long-term stadium deal). His attempts to sell them (for outrageous numbers ranging from $10 to $20 million) haven't suceeded yet, and the structural issues the team still has are a major reason why. Spending the necessary money to fix those and improve the team may not be an easy sell for Braley, but it might enable him to finally find a buyer for the Argos.

What if Braley refuses to pony up, though? Madani theorizes that the league may step in, but that could be difficult. With Braley owning two teams, he has a fair bit of power on the CFL's board, and undoubtedly, other owners want to stay on his good side so he'll support things that matter to them. The league office generally hasn't had a ton of ability to involve itself in team operations, either, and it's not like other teams would be eager to chip in some of their hard-earned money to help out Toronto. For the moment, the Argonauts appear to be in limbo. They need Braley to step up his investment, the league to step in, or a sale of the team to someone willing to take them as is (and for a reasonable price). None of those three options appear imminent, though, and that's worrying for the CFL's future in Toronto.