Rogers Communications Inc. is buying out Bell’s 37.5% share of Maple Leaf Sports & Entertainment for $3.5 billion.
FILE - The Toronto Maple Leafs play the Anaheim Ducks during the third period NHL hockey game action in Toronto, Ontario, Saturday, Feb. 17, 2024. FILE - Toronto Maple Leafs ’ Auston Matthews reacts during his team’s loss to the Vegas Golden Knights in an NHL hockey game in Toronto, on Tuesday, Feb. 27, 2024. FILE - The Toronto Maple Leafs play the Anaheim Ducks during the third period NHL hockey game action in Toronto, Ontario, Saturday, Feb. 17, 2024.
“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,” Rogers President and CEO Tony Staffieri said Wednesday. “As Canada’s leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy.”
The proposed sale puts the value of MLSE at $12.53 billion . Bell said the transaction is expected to close in mid-2025. It said it plans to use proceeds of the sale toward reducing debt levels and to focus on core growth drivers. MLSE chairman Larry Tanenbaum, via his holding company Kilmer Sports Inc., owns a 25% stake in MLSE. Tanenbaum has represented the Raptors at the NBA’s board of governors and the Leafs with the NHL.
Inc. Toronto Maple Leafs Toronto Raptors Finance Sports Calgary Flames MLB Baseball Larry Tanenbaum Vancouver Canucks NHL Hockey Canada Edmonton Oilers Business
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