A Rogers Communications buy additional 37.5% of Maple Leafs Sports & Entertainment (MLSE)held by Bell, and took a majority stake in the company which already owned another 37.5%.
“Maple Sports and Entertainment is the most prestigious sports and entertainment organization in the world and we are proud to expand our presence,” said Tony Staffieri, CEO of Rogers.
With this, the media company will own 75% of the sports conglomerate’s capital, in a deal worth 4.6 billion Canadian dollars (US$3.48 billion). MLSE has Toronto Maple Leafs (NHL), did Toronto Raptors Players (NBA) and do it Toronto FC (MLS).
Larry Tannenbaum, Bell’s president, will retain the remaining 25% of the capital. On the other hand, Bell and Rogers added a clause in the contract that gives the media company the power to acquire Tannenbaum’s 25% stake in 2026.
“This agreement demonstrates our focus on creating financial flexibility to support the transformation and growth of our team,” said Mirko Bibic, Bell CEO.
New project
The 79-year-old businessman, who built the Maple Leafs Sports empire, was re-elected as chairman of the NBA owners’ board. He is one of the most recognizable figures in the North American sports industry.
A few months ago, Tannenbaum launched his own sports holding company, outside of the Maple Leafs, with which he has achieved an expansion team in the WNBA and the purchase of Saint-Étienne, which competes in Ligue 1, the top division in France.
Maple Leafs Sports, in turn, is Canada’s largest sports holding company. With the arrival of Rogers, in addition to having franchises in the NBA, NHL and MLS, it also adds to its portfolio. Toronto Blue Jays Team (MLB) which is already owned by the company.
Rogers also has Toronto Argonautswhich competes in the Canadian Football League, a Canadian football league (similar to American football).
Timeline
The operation is due to be completed by mid-2025. The resources will be used to reduce Bell’s own debt, which needs to divest its assets in a complex transformation that Bibic himself calls the company’s transition “from telecom to technology.”
Bell also reached a deal to broadcast games from the two major franchises, the Raptors and Maple Leafs, on its own channel, TSN, for the next 20 years. It will also sponsor the Raptors, Argonauts and Toronto FC.
