Rogers Communications said it’s paying $4.35 billion Cdn to acquire the remaining 25 percent stake in Maple Leaf Sports & Entertainment.
Rogers signed an agreement with Kilmer Sports Inc. after acquiring Bell Media’s 37.5 percent stake in 2025. The communications and media giant is on its way to becoming the 100 percent owner of MLSE, which owns the NHL’s Toronto Maple Leafs, AHL‘s Toronto Marlies, NBA’s Toronto Raptors, CFL’s Toronto Argonauts and MLS’ Toronto FC.
“This is a defining moment for Rogers,” Tony Staffieri, president and CEO of Rogers, said in a statement. “Our full ownership of MLSE brings together Canada’s premier communications company with Canada’s premier sports and entertainment organization.”
The deal marks the beginning of the end for Maple Leafs governor Larry Tanenbaum’s stake in MLSE.
Tanenbaum, the chairman of Kilmer Sports, helped create MLSE in 1998 by merging the Maple Leafs and Raptors companies. He was MLSE’s chair of the board for more than two decades before Rogers became the majority owner last year.
Kilmer Sports has remained active in Toronto’s sporting scene recently, creating, owning and operating the WNBA’s Toronto Tempo and joining the PWHL as a strategic partner and the women’s hockey league’s first Canadian outside investor.
“We want to recognize Larry Tanenbaum for his contributions to MLSE and to sports in Toronto,” said the executive chair of Rogers, Edward Rogers. “For decades, Larry has helped shape MLSE, and we thank him for his partnership and his lasting impact.”
Rogers, which also owns the MLB’s Toronto Blue Jays, has strategic partnerships with the NHL, Vancouver Canucks, Edmonton Oilers and Calgary Flames.
The parent company of Sportsnet is also beginning a new 12-year Canadian television broadcasting deal with the NHL, reportedly worth $7.7 billion, after finishing the previous 12-year deal.
While Rogers remain involved with the NHL and clubs outside of MLSE, it says it’s committed to win championships.
“(The agreement with Kilmer Sports) gives us even more opportunity to invest in championship-caliber teams, create unique experiences for customers and fans and unlock long-term value for shareholders,” Staffieri said.
Rogers said it expects to close the transaction in the fourth quarter of 2026. It said it intends to sell a minority stake in the consolidated Rogers sports, media and entertainment assets over the next year to finance the transaction.
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‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source ca.finance.yahoo.com ’
