The 1981 Montreal Alouettes finished the season in third place in the East Division with a 3–13 record.

After the season the Alouettes folded after owner Nelson Skalbania lost $2 million, and the CFL revoked the franchise from him with the team now heavily in debt.

His biggest acquisition was Los Angeles Rams quarterback Vince Ferragamo (who appeared in Super Bowl XIV) to a $300,000 contract.

[2] The other signings included wide receiver James Scott, kick return specialist Billy "White Shoes" Johnson, running back David Overstreet and defensive end Keith Gary.

[3] Skalbania lost two million dollars and the CFL revoked his ownership.