http://www.tsn.ca/cfl/news_story/?ID=173923&hubname=
Apparently, three groups are expressing interest in doing as such.
At least three groups are expected to file their intention to seek a Canadian Football League franchise for the city of Ottawa by the Friday deadline.
According to several published reports, Golden Gate Capital Corporation of Toronto, brewery entrepreneur Frank D'Angelo and a U.S. investment group which includes former CFL'er Bill Palmer, whose son is NFL quarterback Jesse Palmer.
I think it would be great to see the CFL have a team in the nation's capital; however, I'm not sure whether or not the fan support is there. Mind you, they have had extremely crappy ownership for the most part (the Glierbman's, anybody? Horn Chen?

)
Also this interesting tidbit:
At least one of the groups has reportedly worked out a deal with former CFL owner Horn Chen to secure the rights and revive the Rough Riders name and logo for the new team.