The Toronto Rock announced today that James R. Dawick, an Oakville-based businessman, has purchased the team from the current ownership group.

"The Toronto Rock is one of the cornerstone franchises of the National Lacrosse League," Dawick said. "My goal is to restore the winning tradition of the Rock and ensure that it once again becomes one of the most competitive franchises in the league."

"It is with confidence that we pass this team to Jamie," current Rock president Brad Watters said.

"It has been twelve years since our group started this team and I know Jamie will continue to build the Rock for many years to come," Watters added.

Watters will continue on during the transition of the team.

"I believe there is tremendous potential to expand the franchise and broaden the fan and sponsorship base of the team and the league as a whole," said Dawick.

The Rock also announced that Terry Sanderson has been brought on board as general manager, effective immediately.

Sanderson is no stranger to Toronto, as he joined the Rock as head coach and general manager midway through the 2004 season. He remained with the club for the 2005 and 2006 seasons, making the playoffs all three seasons and winning the NLL Champions Cup in 2005. In three seasons with the Rock, Sanderson tallied an overall 30-16 record.