Here's a link to an article overviewing the sale, https://www.progressiverailroading.com/m_a/news/Jaguar-Transport-Ontario-pension-fund-acquire-five-short-lines-construction-firm--62011

I can't help but wonder how this will turn out overall and specifically what it means for steam.

John

I'd wait and see. It might be good or it might mean that steam gets parked, depending on financial performance. My guess long term is that steam might be relegated to special events, but then I am not aware of the specifics of the market where TSR is located. For certain operators like the Grand Canyon Railway, steam has little to do with their success. For most of their passengers, the train is mostly a way to get to the scenery at the end of the line without having to drive to the park.

Unless something changed, the Western Group does not own the Texas State Railroad, they are the operator on a 5-year lease that began in 2017.

source - https://www.railwaypro.com/wp/western-group-operate-texas-state-railroad/

I don't think there will be any significant changes to the Texas State, although this change may result in yet another new operator for the group. Texas State hasn't had a very easy time finding a good long-term operator. (American Heritage, Iowa Pacific, and now Western Group).

Left unmentioned is the fact (as of last report) that The Western Group (primarily David Durbano) still owns and operated the Arizona Central RR, over which the Verde Canyon Railroad excursions operate. That operation started in large part with the FP7s and cars acquired from the Wyoming & Colorado decades ago.

There was recently a big shuffle of motive power "musical chairs" just before this transaction wasd announced, with the AZCR ending up with the only two ex-Southwestern RR (nee-IC) Paducah GP26 locos to either supplement or replace the (reportedly thoroughly clapped out) three Geeps used for freight.

I wondered about that, the same as I did when the new operating group took over Mt Rainier, then made comments that they were interested in selling assets off when things imploded there, as I understood they were just an operating group and didn't actually own much of anything...

The Texas State RR is owned by the Texas state RR Authority, a local entity set up to take over the RR when the Texas Department of Parks and Wildlife decided to get rid of the RR. The TSR Authority owns everything above the ground, rails, ties, rolling stock, structures, etc. The State of Texas still owns the right of way and surrounding property.

Western Group, like IPH and American Heritage Rys before them, is simply a contract operator.

Mt Rainier is a different story, as American Heritage actually became owner of much of the property and rolling stock.

One has to wonder about the new operator. they don't seem to have any experience running a steam excursion railroad.

"One has to wonder about the new operator. they don't seem to have any experience running a steam excursion railroad."

Could be a big plus! Fresh eyes might well improve things rather than same old, same old.

And could also be a minus. The operator will be interested in meeting their contractual obligations while making as much profit as possible. As a pension fund, their goal is to make money for their clients.

This is the same group that once upon a time had ownership in Maple Leafs Sports & Entertainment, correct?