Canada Sport News

Rogers Communications acquires Bell's stake in MLSE for $4.7 billion

Rogers Communications acquires Bell’s stake in MLSE for $4.7 billion

September 18, 2024

Rogers Communications Inc. is buying out Bell’s 37.5 per cent share of Maple Leaf Sports & Entertainment for $4.7 billion, giving it 75 per cent ownership of the sports conglomerate.

Rogers and Bell had held equal shares of MLSE, which owns the NHL Maple Leafs, NBA Raptors, CFL Argonauts, MLS Toronto FC and AHL Marlies.

“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 chairman Larry Tanenbaum, via his holding company Kilmer Sports Inc., owns a 20 per cent stake in MLSE after selling a five per cent share to OMERS, a Canadian pension fund, in the summer of 2023.

Rogers, which owns Sportsnet, already owns Major League Baseball’s Blue Jays and its Rogers Centre home.

The deal, subject to league and regulatory approvals, provides Bell with the opportunity to “renew its existing MLSE broadcast and sponsorship rights long-term at fair market value.” This includes access to content rights for 50 per cent of Maple Leafs regional games and 50 per cent of Toronto Raptors games for which MLSE controls the rights.

Rogers said the purchase will not affect its debt leverage “and financing will include private investors.”

–with files from Sportsnet staff

In a major move in the world of sports and entertainment, Rogers Communications has acquired Bell’s stake in Maple Leaf Sports & Entertainment (MLSE) for a whopping $4.7 billion. This deal marks a significant shift in ownership for one of the most prominent sports and entertainment companies in Canada.

MLSE is the parent company of several well-known sports teams, including the Toronto Maple Leafs (NHL), Toronto Raptors (NBA), and Toronto FC (MLS). In addition to its sports teams, MLSE also owns and operates various entertainment venues, such as the Scotiabank Arena and BMO Field.

The acquisition of Bell’s stake in MLSE by Rogers Communications is expected to have a significant impact on the sports and entertainment landscape in Canada. With this deal, Rogers now holds a majority stake in MLSE, giving them greater control over the operations and strategic direction of the company.

This acquisition also solidifies Rogers’ position as a major player in the sports and entertainment industry in Canada. With ownership of some of the most popular sports teams in the country, as well as key entertainment venues, Rogers is well-positioned to capitalize on the growing demand for live sports and entertainment experiences.

It will be interesting to see how this acquisition plays out in the coming months and years. With Rogers now holding a majority stake in MLSE, fans can expect to see potential changes in how the company operates and how it engages with its audience. This deal could also have implications for the broader sports and entertainment industry in Canada, as other companies may look to make similar moves to strengthen their position in the market.

Overall, the acquisition of Bell’s stake in MLSE by Rogers Communications is a significant development that will undoubtedly shape the future of sports and entertainment in Canada. Fans and industry insiders alike will be watching closely to see how this deal unfolds and what it means for the future of MLSE and the Canadian sports and entertainment landscape.