Former CFL commissioner Mark Cohon joins Northern Super League as board chair | Canada News Media
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Former CFL commissioner Mark Cohon joins Northern Super League as board chair

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Former CFL commissioner Mark Cohon is joining the new Northern Super League as chair of its board of directors.

Cohon succeeded Tom Wright as CFL commissioner in 2007, signing a three-year contract extension in 2012. He stepped down in January 2015 ahead of his contract expiration in April 2015.

“Mark brings a lot to this role,” said NSL president Christina Litz. “Obviously an all-Canadian league is quite rare. So having that experience with the CFL and being able to bring that perspective, particularly in terms of governance and organization and helping set culture across the board, is really unique.

“And he knows that. So it’s great to have him as we begin our journey here.”

The six-team women’s pro soccer league is set to kick off in April with teams in Vancouver, Calgary, Toronto, Ottawa, Montreal and Halifax.

Cohon and Litz have history.

Cohon hired Litz at the CFL in 2014 as head of broadcast and digital. Their paths crossed again on the board of the Canadian Academy of Recording Arts and Sciences/Juno Awards which Cohon chaired from September 2015 to September 2022.

“I always known him to be a big thinker,” said Litz, who worked for the CFL until 2019 with her last position as chief marketing, digital and strategy officer. “He had big ambitions for the CFL that were achieved while he was there … And he was like that at the Junos board as well, really pushing us constantly — as a board and with management there — to think as big we could. So I know he’s going to do this here and I love that.

“The women who have been playing this game really deserve us to be thinking and acting as big as possible.”

Cohon’s achievements at the Canadian Football League included negotiating a lucrative, new broadcast deal, bringing football back to Ottawa with the Redblacks and celebrating the 100th Grey Cup in 2012.

The NSL says Cohon “will support the league’s board of directors on several key initiatives, including economic growth, expansion initiatives, international competition, player welfare and promoting inclusivity.”

“I really love the vision of the league,” Cohon said.

“The entrepreneurial nature of building a league, doing something that’s important for Canada was, No. 1, really exciting for me,” he added. “And two, this is a moment in time if you think about what’s happening in the world of women’s sports, this is a critical moment — being part of that movement, that was very exciting for me.

“And I guess the third thing is I feel like I can really make a difference.”

He said his wife Suzanne and daughter Parker also urged him to take the job.

“I’m all-in to making this thing a success for our Canadian women and the country,” Cohon said.

The new women’s league will not have the position of commissioner. Instead, Litz will take the lead as president.

Before the CFL, Cohon worked for the NBA as vice president of business development and managing director of NBA Europe and for Major League Baseball as director of International game and business development.

Cohon, a dual citizen whose late father George Cohon was McDonald’s of Canada senior chairman, was born in Chicago but moved to Toronto when he was two.

He has spent the last eight years as chair and partner at the Georgian Bay Spirit Company and served as chair of Toronto Global, which assists international companies exploring business opportunities in the Toronto area since November 2016.

He has also advised CVC Capital Partners, a private equity and credit company, and a director of Great Canadian Entertainment, an Ontario-based company that operates gaming, entertainment and hospitality facilities in Ontario, British Columbia, New Brunswick, and Nova Scotia.

In 2013, Cohon was appointed to the Order of Ontario and in 2015, received the Meritorious Service Medal from the Governor General of Canada.

The NSL board will include Cohon and representatives of the six ownership groups with Litz and Diana Matheson, whose title is the league’s chief growth officer, as observers.

Matheson and Tom Gilbert, co-founders of the league via Project 8, now have an ownership stake in Ottawa Rapid FC with Gilbert the team’s representative on the board.

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This report by The Canadian Press was first published Nov. 12, 2024

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Bitcoin is at the doorstep of $100,000 as post-election rally rolls on

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NEW YORK (AP) — Bitcoin topped $98,000 for the first time Thursday, extending a streak of record after record highs since the U.S. presidential election. The cryptocurrency has rocketed more than 40% in just two weeks.

Now, bitcoin is at the doorstep of $100,000, just two years after dropping below $17,000 following the collapse of crypto exchange FTX. The recent, dramatic rally arrives as industry players expect the incoming Trump administration to bring a more “crypto-friendly” approach toward regulating the digital currency.

Bitcoin traded as high as $98,349 early Thursday, according to CoinDesk, and was slightly below that level at 1:25 p.m. ET.

As with everything in the volatile cryptoverse, the future is impossible to know. And while some are bullish, other experts continue to warn of investment risks.

Here’s what you need to know.

Back up. What is cryptocurrency again?

Cryptocurrency has been around for a while now. But, chances are, you’ve heard about it more and more over the last few years.

In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it’s typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain.

Bitcoin is the largest and oldest cryptocurrency, although other assets like ethereum, tether and dogecoin have also gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money — but it can be very volatile, with its price reliant on larger market conditions.

Why is bitcoin soaring?

A lot of the recent action has to do with the outcome of the U.S. presidential election.

Crypto industry players have welcomed Trump’s victory, in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for — which, generally speaking, aim for an increased sense of legitimacy without too much red tape.

Trump, who was once a crypto skeptic, recently pledged to make the U.S. “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies.

How of this will actually pan out — and whether or not Trump will successfully act quickly on these promises — has yet to be seen.

“This is not necessarily a short-term story, it’s likely a much longer-term story,” Citi macro strategist David Glass told The Associated Press last week. “And there is the question of how quickly can U.S. crypto policy make a serious impact on (wider adoption).”

Adam Morgan McCarthy, a research analyst at Kaiko, thinks the industry is craving “just some sort of clarity.” Much of the approach to regulating crypto in the past has been “enforcement based,” he notes, which has been helpful in weeding out some bad actors — but legislation might fill in other key gaps.

Gary Gensler, who as head of the Securities and Exchange Commission under President Joe Biden has led a U.S. government’s crackdown on the crypto industry, penalized a number of crypto companies for violating securities laws. Gensler announced Thursday that he would step down as SEC chair on Jan. 20, Inauguration Day.

Despite crypto’s recent excitement around Trump, McCarthy said that 2024 has already been a “hugely consequential year for regulation in the U.S.” — pointing to January’s approval of spot bitcoin ETFs, for example, which mark a new way to invest in the asset.

Spot ETFs have been the dominant driver of bitcoin for some time now — but, like much of the crypto’s recent momentum, saw record inflows postelection. According to Kaiko, bitcoin ETFs recorded $6 billion in trade volume for the week of the election alone.

In April, bitcoin also saw its fourth “halving” — a preprogrammed event that impacts production by cutting the reward for mining, or the creation of new bitcoin, in half. In theory, if demand remains strong, some analysts say this “supply shock” can also help propel the price long term. Others note it may be too early to tell.

What are the risks?

History shows you can lose money in crypto as quickly as you’ve made it. Long-term price behavior relies on larger market conditions. Trading continues at all hours, every day.

At the start of the COVID-19 pandemic, bitcoin stood at just over $5,000. Its price climbed to nearly $69,000 by November 2021, during high demand for technology assets, but later crashed during an aggressive series of Federal Reserve rate hikes. And in late 2022 collapse of FTX significantly undermined confidence in crypto overall, with bitcoin falling below $17,000.

Investors began returning in large numbers as inflation started to cool — and gains skyrocketed on the anticipation and then early success of spot ETFs. But experts still stress caution, especially for small-pocketed investors. And lighter regulation from the coming Trump administration could mean less guardrails.

While its been a big month for crypto — and particularly bitcoin, which McCarthy notes has set record highs for ten of the last 21 days — there’s always risk for “correction,” or seeing prices fluctuate back down some. Some assets may also have more restrictions than others.

“I would say, keep it simple. And don’t take on more risk than you can afford to,” McCarthy said — adding that there isn’t a “magic eight ball” to know for certain what comes next.

What about the climate impact?

Assets like bitcoin are produced through a process called “mining,” which consumes a lot of energy. Operations relying on pollutive sources have drawn particular concern over the years.

Recent research published by the United Nations University and Earth’s Future journal found that the carbon footprint of 2020-2021 bitcoin mining across 76 nations was equivalent to the emissions from burning 84 billion pounds of coal or running 190 natural gas-fired power plants. Coal satisfied the bulk of bitcoin’s electricity demands (45%), followed by natural gas (21%) and hydropower (16%).

Environmental impacts of bitcoin mining boil largely down to the energy source used. Industry analysts have maintained that clean energy has increased in use in recent years, coinciding with rising calls for climate protections



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Transgender community gathers in remembrance, opposition to Alberta legislation |

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Members of Edmonton’s transgender community and their loved ones gathered to mark the international Transgender Day of Remembrance where they held candles and mourned for transgender people who have recently died from violence or suicide. In Alberta, the gathering was also about opposing proposed legislation in the province. (Nov. 21, 2024)



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Canadian basketball player Chad Posthumus dead at 33 after brain aneurysm

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WINNIPEG – Canadian basketball player Chad Posthumus, a founding member of the Canadian Elite Basketball League, died Wednesday. He was 33.

The CEBL’s Winnipeg Sea Bears said Thursday that Posthumus, the team’s captain, suffered a brain aneurysm during a training session in Winnipeg on Nov. 9.

He then battled complications from a corrective surgery that left him in critical condition in the intensive care unit and did not recover.

Posthumus, a Winnipeg native, played for the CEBL’s Saskatchewan Rattlers, Ottawa BlackJacks, Edmonton Stingers and Brampton Honey Badgers before joining his hometown team.

He also played for teams in Argentina and Japan.

Internationally, the six-foot-11 Posthumus played for the 3×3 national team, representing Canada at the 3×3 AmeriCup in 2023.

This report by The Canadian Press was first published Nov. 21, 2024.

The Canadian Press. All rights reserved.



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