The Saputo family has initiated the process of selling CF Montreal, putting the Major League Soccer club's future in the Canadian city in question.

The club announced the decision on Monday, saying the family, which has owned the team for more than three decades, was beginning the process of finding new ownership.

The family has been associated with the club since 1992, when it was known as the Montreal Impact and competed in the American Professional Soccer League. The team 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.

He described the club as a central part of the family's lives, saying they had invested considerable time, effort and resources in building it.

Saputo also thanked the fans, saying their passion and loyalty had been central to the club.

The family would prefer to sell the team to a buyer willing to keep it in Montreal, Saputo said, although he did not rule out the possibility of the club moving to another city under new ownership.

The announcement comes after CF Montreal endured its worst season in MLS, finishing at the bottom of the Eastern Conference with a record of six wins, 20 losses and eight draws.

Speaking at a news conference on Monday, Saputo, however, insisted that the decision to sell was not driven by the team's on-field performance or financial concerns.