In 1993, the Canadian Football League finalized their six-team expansion into the United States, with Speros being named the Owner and Team President of the
Baltimore CFL Colts (later known as the
Baltimore Stallions), the most successful team from the
Canadian football league expansion south to the United States. The Stallions' success was due in large part to Speros' involvement. He managed to build a successful franchise in Baltimore with crowds that consistently topped 30,000 at the renovated four-decade old
Memorial Stadium on 33rd Street in northeast Baltimore over its two-year existence. During his time with the Stallions, Speros also served as Vice Chairman of the Canadian Football League under commissioner
Larry Smith. The Stallions were a runaway success on the field as well. He knew that Canadian football was very different from the American game, and stocked the Stallions with CFL veterans. This approach paid off very well, as the Stallions advanced all the way to the
Grey Cup final in both seasons, winning it in 1995–Baltimore's first major-sports title since the Orioles won the
1983 World Series. The 1995 Baltimore Stallions were the first American franchise in the CFL to win the Grey Cup, and as of 2024 are still the only American based team to win the CFL championship in the leagues 100+ year history. However, Speros' ambitious ownership of the Stallions would not last long. During the 1995 Grey Cup playoffs, the
Cleveland Browns under long-time owner
Art Modell,
announced plans to move to Baltimore. The resulting dispute ultimately resulted in the Browns' franchise being suspended for four years, while the Browns' players and personnel moved to Baltimore and were renamed as the
Baltimore Ravens. Although the Stallions had been a hit, Speros knew that they could not even begin to compete with an NFL team. Rather than face being effectively reduced to "minor league" status (as he put it years later), Speros moved the team to
Montreal to become the current incarnation of the
Alouettes. However, the CFL refused to let Speros' team keep their legacy as the Stallions, though it allowed him to reclaim the history and records of the previous two incarnations of the Alouettes. According to official CFL records, Speros is reckoned as having canceled his franchise in Baltimore and "reactivated" the dormant 1946-86 Alouettes franchise. After moving to Montreal, Speros' Alouettes franchise continued their success, making it to the CFL Eastern Conference Finals for the third consecutive year. Although the team continued their winning ways, compiling a 12–6 record by the end of the 1996 Season, Speros decided to sell the Montreal franchise to
Robert C. Wetenhall in early 1997 to pursue other business and sports ownership opportunities in the United States, and handed over the title of Team President to Larry Smith. ==United Football League involvement==