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The Saputo family has begun the process to sell CF Montreal, the Major League Soccer club announced on Monday.

The family has owned the team since 1992, when the then-Montreal Impact was part of the American Professional Soccer League. The club joined MLS in 2012.

“After more than three decades of commitment, we believe this is the appropriate time to begin the process of identifying new ownership for CF Montreal,” Joey Saputo said in a statement. “This club has been a central part of our lives. We have dedicated significant time, energy and resources to building it, and we are proud of what CF Montreal has become. I would also like to thank the fans, whose passion and loyalty have been at the heart of this club.”

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Saputo said the family would prefer to sell to a buyer that will keep the team in Montreal, but would not rule out the possibility that new ownership could move the club.

Montreal is coming off its worst season in MLS, going 6-20-8 and finishing last in the Eastern Conference.

At a news conference on Monday, Saputo insisted the decision to sell was not based on the team’s performance or financial concerns.