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Boatman
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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.
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