Harry Ornest sold the Toronto Argonauts to Bruce McNall, Wayne Gretzky and John Candy on Monday, February 25. On Wednesday, July 24, the Board of Directors of the Ottawa Rough Riders resigned, causing the CFL to assume the ownership duties of the franchise, two days later. Three months later, the Rough Riders were sold by the CFL to Bernie and Lonie Glieberman on Saturday, October 19. Furthermore, the Calgary Stampeders was purchased by Larry Ryckman from Stampeder Football Club Limited on Friday, October 24.

All eight clubs combined for a record 64.2 points per game and attendance figures broke the 2 million mark for the 10th time in CFL history (2,001,858). The Grey Cup game was hosted by the city of Winnipeg for the first time on Sunday, November 24. In that game, the Toronto Argonauts defeated the Calgary Stampeders 36–21 in front of 51,985 football fans. The Grey Cup game was also the most-watched Canadian television show with an audience of 3,531,000 viewers.

J. Donald Crump resigned as CFL Commissioner on Tuesday, December 31.

After the shutdown of the Canadian Football Network, this left the CFL with two television outlets: CBC Television, which had coverage for some regular season games and exclusive coverage of all CFL playoff games, including the Grey Cup game, and TSN on cable, airing some regular season games.

Final regular season standings edit

Note: GP = Games Played, W = Wins, L = Losses, T = Ties, PF = Points For, PA = Points Against, Pts = Points

• Bold text means that they clinched the playoffs.
• Edmonton and Toronto had first round byes.

The Toronto Argonauts are the 1991 Grey Cup champions, defeating the Calgary Stampeders 36–21, at Winnipeg Stadium. This was the first championship for the Argonauts in eight years. The Argonauts’ Raghib "Rocket" Ismail (WR) was named the Grey Cup's Most Valuable Player and Stampeder's Dave Sapunjis (SB) was the Grey Cup's Most Valuable Canadian.

Playoff bracket edit

• CFL Passing Leaders
• CFL Rushing Leaders
• CFL Receiving Leaders^[1]

Special teams edit

• P – Hank Ilesic, Toronto Argonauts
• K – Lance Chomyc, Toronto Argonauts
• ST – Henry "Gizmo" Williams, Edmonton Eskimos

Special teams edit

• P – Hank Ilesic, Toronto Argonauts
• K – Lance Chomyc, Toronto Argonauts
• ST – Raghib "Rocket" Ismail, Toronto Argonauts

Special teams edit

• P – Brent Matich, Calgary Stampeders
• K – Dave Ridgway, Saskatchewan Roughriders
• ST – Henry "Gizmo" Williams, Edmonton Eskimos

• CFL's Most Outstanding Player Award – Doug Flutie (QB), BC Lions
• CFL's Most Outstanding Canadian Award – Blake Marshall (FB), Edmonton Eskimos
• CFL's Most Outstanding Defensive Player Award – Greg Battle (LB), Winnipeg Blue Bombers
• CFL's Most Outstanding Offensive Lineman Award – Jim Mills (OT), BC Lions
• CFL's Most Outstanding Rookie Award – Jon Volpe (RB), BC Lions
• CFLPA's Outstanding Community Service Award – Stu Laird (LB), Calgary Stampeders
• CFL's Coach of the Year – Adam Rita, Toronto Argonauts
• Commissioner's Award - Jake Matheson, Winnipeg