Rogers Communications is now the majority owner of Maple Leafs Sports and Entertainment (MLSE). The company owns the Toronto Maple Leafs, Toronto Raptors, the American Hockey League’s (AHL) Toronto Marlies, MLS’s Toronto FC and the CFL’s Toronto Argonauts.
The company also owns and operates Scotiabank Arena, the home of the Maple Leafs and Raptors.
According to the CBC, the deal is worth C$4.7 billion. The deal is expected to close in mid-2025. The deal is subject to regulatory approvals.
Bell has sold its stake in Maple Leaf Sports & Entertainment, the company that owns the Toronto Maple Leafs and Toronto Raptors, to Rogers Communications for $4.7 billion. https://t.co/1Z463CM6JO
— CBC News (@CBCNews) September 18, 2024
“MLSE is one of the most prestigious sports and entertainment organizations in the world and we’re proud to expand our ownership of these coveted sports teams,” Rogers CEO and president Tony Staffieri said in a statement.
As part of the deal, which is subject to league approval, Bell will acquire the rights from Rogers to air Maple Leafs and Raptors games on TSN for the next 20 years. Bell also remains the official telecom sponsor of the Raptors and will continue sponsorships of the Argonauts and Toronto FC.
TSN will also continue to broadcast Argonauts and Toronto FC games through independent agreements with the respective leagues.
Rogers is on the cusp of being at the helm of nearly every Toronto sports team. They already own the Toronto Blue Jays, their stadium, Rogers Centre, and SportsNet.
Bell has a 37.5% share in MLSE, so the sale puts the value of the company at around C$12.53 billion, according to BNN Bloomberg. Once the deal closes, Rogers will own 75% of the company.
The two companies originally went in together on a purchase of MLSE in 2012. This sale is expected to streamline the decision-making process for the company.
