Credible valuations of the Roughriders are around $40-45 million. This is "real value," based on actual revenue, expense, profit, etc.

Real valuations of the middle tier of MLS would probably be in a similar range. But the $150 million figure is not based on real value. It's perceived value, which is a different animal. At the end of the day, billionaires are willing to pay $150 for an MLS team because, as others have said, that's what it's worth to them (prestige, city pride, whatever).

No CFL team has a perceived value that high.