Rogers Communications, the Canadian telecom giant, announced on Monday that it has signed a $3.06 billion agreement to become the sole owner of Maple Leaf Sports and Entertainment (MLSE), the enterprise which owns the NHL’s Toronto Maple Leafs and the NBA’s Toronto Raptors. Rogers previously held a 75% stake in MLSE and purchased the remaining 25% from Kilmer Sports Inc., according to a report in The Athletic.
The transaction completes Rogers’ consolidation of MLSE after buying out Bell Canada’s 37.5% share of the company in 2024.
“This is a defining moment for Rogers. Our full ownership of MLSE brings together Canada’s premier communications company with Canada’s premier sports and entertainment organization,” Rogers president Tony Staffieri said in a statement. “It gives us even more opportunity to invest in championship-calibre teams, create unique experiences for customers and fans, and unlock long-term value for shareholders.”
Rogers expects the transaction to close in the fourth quarter of this year, per The Wall Street Journal.
As part of the deal, Rogers is expected to combine MLSE with another Rogers-owned Toronto franchise, the Blue Jays, to create a single sports and media behemoth. Such a combination will roll Sportsnet, which airs Blue Jays games across Canada, into the greater MLSE umbrella.
When the deal is finalized, Rogers is expected to sell minority stakes in the consolidated business over the next year.
In addition to the Maple Leafs, Raptors, and Blue Jays, Rogers owns MLS side Toronto FC and the CFL club Toronto Argonauts.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source awfulannouncing.com ’
