After nearly 10 years with the Winnipeg Blue Bombers - and a topsy-turvy 2009 season - Lyle Bauer has signed on to head the Calgary Stampeders franchise. (stampeders.com)

Lyle Bauer has gone from Bomberville to Cowtown.

In a statement on its website, CFL team the Calgary Stampeders has named Bauer as their new president and chief operating officer.

Bauer stepped down as CEO and president of the Winnipeg Blue Bombers last month after being with the team for nearly a decade.

Bauer was credited with reversing the financial woes of the Winnipeg team and twice came close to raising the Grey Cup.

Bauer joined the Blue Bombers in February 2000, taking over a franchise that was nearly $5 million in debt and on the verge of bankruptcy. Bauer resigned from the CFL club last month, not only leaving it with money in the bank but also $5 million in its rainy day fund.

Bauer's departure came after a disastrous 2009 season both on and off the field for the team.

Bauer becomes the 28th president in Stampeders history and will handle all aspects of business operations for the team.

He replaces Scott Ackles, who had stepped down to become the chairman of the 2011 Grey Cup in Vancouver.

Football operations will remain in the hands of head coach and general manager John Hufnagel, the team said.

In a statement, Bauer said he's been admiring the Calgary franchise from afar for a while.

“Over the years, I have been able to watch the commitment this ownership group has demonstrated to ensure the viability of this organization for the city, their fans, staff and players," he said.

"They have also demonstrated the commitment to acquire the best talent on and off the field and understand the required investment to be a premier franchise in the Canadian Football League."

With file from The Canadian Press