Rogers Communications will become the majority owner of Maple Leaf Sports and Entertainment after purchasing Bell Canada Enterprises’ stake in the company for $4.7 billion.
The companies jointly purchased 75 percent of MLSE back in August 2012, with Bell now selling its 37.5 percent share to Rogers, with the deal expected to close in mid-2025 Bell revealed in a media release.
The company also said that it is selling its ownership stake to reduce its debt and “support its ongoing transformation” from a telecommunications firm to a tech company.
MLSE chair Larry Tanenbaum holds a 20 percent stake, while the remaining five percent share is held by the Canadian pension fund Ontario Municipal Employees Retirement System (OMERS) after it acquired the stake from Tanenbaum in the summer of 2023.
Along with owning the Toronto Raptors, MLSE owns the G League’s Raptors 905, the NHL’s Toronto Maple Leafs, the AHL’s Toronto Marlies, the CFL’s Toronto Argonauts, and Toronto FC of the MLS.
The Raptors and Maple Leafs have grown in financial value since the media giants purchased their original joint stake in 2012. Sportico posted the Raptors’ value at $4.1 billion, the ninth highest in the association, while Forbes pegged the Leafs’ value at $2.8 billion, the richest in the NHL.
“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,” Tony Staffieri, president and CEO of Rogers, said in a news release.
“As Canada’s leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy.”
Rogers and Bell currently share the rights for the Maple Leafs and the Raptors. Pending the approval from each league, Bell will have access to content and broadcasting rights to 50 percent of the Leafs’ regional games and 50 percent of the Raptors’ games that MLSE holds. Rogers-owned Sportsnet will continue to air 50 percent of Buds’ and Dinos’ games.
