Surprise transaction in Toronto as Maple Leafs’ stake are sold!

The takeover has begun. On Wednesday morning, Rogers controlling interest in the Toronto Maple Leafs when it purchased Bell’s 37.5 percent stake of Maple Leaf Sports & Entertainment at a whopping $4.7 billion Canadian ($3.5 billion US). The sale would put a $9.3 billion US valuation on MLSE.

“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,” said Tony Staffieri, President and CEO, Rogers. “As Canada’s leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy.”

MLSE owns the Toronto Maple Leafs and the Toronto Raptors, while Rogers, which already had a 37.5 percent stake in the company, already owns the Toronto Blue Jays, the Rogers Centre and Sportsnet, the Toronto Argonauts and Toronto FC.
The deal therefore allows Bell to retain the opportunity to renew its broadcast and sponsorship rights which includes 50% of the Leafs’ regional games and 50% of Toronto Raptors games for the next 20 years, for which MLSE controls the rights.

The transaction is subject to league approvals but is expected to close in mid-2025.
As for the other 25 percent stake in the company, Larry Tanenbaum is the owner, though it has been reported that Bell and Rogers hold a clause to buy out Tanenbaum’s stake by 2026.

“MLSE has been fortunate to have one of the very best ownership groups in sports and entertainment for many years and it has led to MLSE becoming one of the leading organizations in our industry. As an organization, we are grateful for their contributions, and we remain fully focused on our priorities and further driving a championship mentality across MLSE,” the company said in a statement.