The Calgary Flames are a professional ice hockey team based in Calgary, Alberta, Canada. They compete in the National Hockey League (NHL). The team is operated by the private company Calgary Sports and Entertainment Corporation (CSEC). The Chairman of CSEC is N. Murray Edwards, who is one of the principal owners.
Founded in its current ownership structure in 2012 (though the franchise traces back further), the company owns and operates multiple sports franchises in Calgary.
Ownership Status of the Calgary Flames
There is no single individual who owns the Calgary Flames outright. The team is owned by a group of investors through CSEC. The major ownership group includes N. Murray Edwards (as Chairman) along with co-owners such as Alvin G. Libin, Allan Markin and Jeffrey J. McCaig.
Major Shareholders
| Shareholder / Entity | Ownership Status or Role | Notes |
|---|---|---|
| N. Murray Edwards | Majority owner / Chairman of CSEC | Became co-owner of the Flames in 1994 and is the lead name in the ownership group. |
| Alvin G. Libin | Co-owner | Local Calgary investor; part of the ownership group since 1994. |
| Allan Markin | Co-owner | Businessman who co-founded Canadian Natural Resources with Edwards; ownership since 1994. |
| Jeffrey J. McCaig | Co-owner | Succeeded his father’s stake; part of the ownership group. |
Note: Because CSEC is privately owned, the exact ownership percentages of each partner are not publicly disclosed in the same manner as a publicly traded company.
About the Owner N. Murray Edwards
N. Murray Edwards (born December 10, 1959) is a Canadian businessman and investor. He holds a Bachelor of Commerce (Great Distinction) from the University of Saskatchewan and an LLB (Honours) from the University of Toronto.
He became co-owner of the Calgary Flames in 1994 and serves as Chairman of Calgary Sports and Entertainment Corporation.
Beyond sports, Edwards is involved in oil & gas (especially through the company Canadian Natural Resources Limited), aerospace (Magellan Aerospace Corporation) and other industries.
His leadership extends into philanthropy and education—among other things, his donation to the University of Saskatchewan led to the renaming of its business school as the N. Murray Edwards School of Business.
N. Murray Edwards Net Worth
Estimating net worth for private businessmen involves some uncertainty, but here are credible figures:
- In a list of Canadians by net worth, Edwards is listed at US$2.7 billion under oil & gas.
- A 2024 article ranked him with a net worth of CA$4.6 billion (which converts to roughly US$3–4 billion depending on exchange rate).
- A biography from January 2025 estimated his net worth at approximately US$3.1 billion.
Thus, we can say that as of recent years, N. Murray Edwards has a net worth in the ballpark of US$3 billion, primarily driven by his holdings in oil & gas, aerospace, and his sports/esports-related investments.
Key Shareholder Highlights
- N. Murray Edwards: He is the most prominent figure in the ownership structure. Beyond the Flames, he has major interests in Canadian oil & gas and aerospace, making him one of Canada’s wealthier business figures.
- The ownership group is responsible for multiple sports franchises under CSEC (not just the Flames), which includes other Calgary teams—thus reinforcing their broader influence in Calgary’s sports and entertainment industry.
- The group has maintained a relatively stable core of owners for decades, meaning the major names haven’t changed frequently. This tends to provide continuity in team operations and local influence.
Recent Developments in Ownership
While there have been no major publicly announced changes in the ownership stakes of the Flames in the recent past, some relevant points:
- In the league’s list of franchise owners, N. Murray Edwards is listed as the principal owner of the Calgary Flames.
- The operating entity CSEC was reorganised in 2012 from the previous structure (the Calgary Flames Limited Partnership) into its current form.
- Beyond ownership shares, the group is active in decisions around venues (such as the managing of the Scotiabank Saddledome) and broader sporting assets, which shows ownership is operational and strategic, not purely passive.
FAQs
1. Who is the current owner of the Calgary Flames?
There is no single owner. The Calgary Flames are owned by a group via the Calgary Sports and Entertainment Corporation. The most visible figure is N. Murray Edwards, who serves as Chairman.
2. Is the Calgary Flames franchise publicly traded or privately owned?
The franchise is privately owned through CSEC; it is not publicly traded.
3. Who founded the Calgary Flames?
The team was originally founded as the Atlanta Flames in 1972 and relocated to Calgary in 1980. The current ownership group (via CSEC) has evolved since then.
4. Has the ownership changed recently?
While the core owners have remained relatively constant, the corporate structure was reorganised in 2012 into CSEC. The specifics of ownership stakes are private, so any shift in percentages would not always be publicly announced.