It wasn’t that long ago that there were reports that the Ontario Teachers’ Pension Plan was looking at selling its majority share in Maple Leafs Sports and Entertainment (MLSE). Now, it is a reality.
The Teachers’ Pension Plan confirmed on Saturday night that they are looking at selling their 66 percent majority share in MLSE when they released the following statement:
“The Ontario Teachers Pension Plan today stated that it will explore the possibility of selling its 66% majority share of Maple Leafs Sports and Entertainment, and will be making no further public comment on the matter.”
Earlier in the day, Montreal newspaper La Presse reported that the Ontario Teachers’ is looking to sell their share for $1.3 billion. The report also said that they have hired investment bank Morgan Stanley to find potential buyers.
Larry Tanenbaum, who currently owns 20.5 percent of the team, has first dibs over the shares, but many reports suggest that Rogers Telecommunications is most likely to purchase the 66 percent.
MLSE owns the NHL’s Toronto Maple Leafs, the NBA’s Toronto Raptors, the AHL’s Toronto Marlies, MLS’ Toronto FC, the Air Canada Centre, BMO Field and Ricoh Coliseum.
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