Rogers Communications has agreed to purchase Bell’s 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for $4.7 billion CAD (~$3.5 billion USD), giving Rogers a controlling 75% interest in the parent company of the Toronto Maple Leafs, Raptors, Toronto FC, and Argonauts.
This move strengthens Rogers’ position in Canada’s sports industry. They already owned 37.5% of MLSE, and it puts their total valuation on the company at $9.3 billion. Larry Tanenbaum owns the remaining 25% stake in MLSE, which also includes the Canadian Football League’s Toronto Argonauts.
MLSE also owns several minor-league affiliates, including the Marlies, Raptors 905, and Toronto FC II. Despite the sale, Bell will retain broadcast rights for 50% of Maple Leafs and Raptors games and continue broadcasting Toronto FC and Argonauts games.
Mirko Bibic, BCE’s CEO, said in a statement, “We are proud of our time as co-owners of these iconic sports teams, and through this agreement have ensured that fans can count on Bell’s continued support of their teams.” He added, “Today’s announcement demonstrates that we are focused on creating the financial flexibility to support our ongoing transformation and core growth drivers.”
The deal, which is pending approval from various sports leagues and regulatory bodies, also includes a long-term agreement with Rogers for broadcast rights for the Maple Leafs and Raptors on TSN for the next 20 years.
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