Rogers buys a majority of the Toronto Maple Leafs: major changes coming
In a historical deal, Rogers has just purchased Bell's stake of Maple Leafs Sports and Entertainment, making it a major shareholder.
Rogers Communications agreed to the purchase of a 37.5 percent interest in Maple Leaf Sports and Entertainment from BCE for CA$4.7 billion, or about USD$3.48 billion. MLSE is the parent company of top sports franchises including the NHL's Toronto Maple Leafs, the NBA's Toronto Raptors and MLS' Toronto FC.
With the purchase, Rogers, who already owned 37.5% of the company, has placed the full enterprise value of MLSE at $9.3 billion. The company also owns the Toronto Blue Jays, with Sportico valuing the franchise at $2.27 billion. Larry Tanenbaum retained his 25% ownership of MLSE, a company that's also purportedly an owner of the CFL's Toronto Argonauts.
Rogers declined to comment on the purchase request; BCE followed moments later, stating it wouldn't either.
Back in 2012, rivals in the telecom industry, Rogers and BCE combined to purchase a controlling interest in MLSE from Ontario Teachers' Pension Plan for CA$1.32 billion ($1.78 billion USD).
| POLL | ||
18 SEPTEMBRE | 91 ANSWERS Rogers buys a majority of the Toronto Maple Leafs: major changes coming Is this a good purchase for the future of the Leafs? | ||
| Yes | 52 | 57.1 % |
| No | 39 | 42.9 % |
| LIST OF POLLS | ||
