By Field Level Media
Oct 02 (Field Level Media) - Rogers Communications Inc., already a 75% owner in Maple Leaf Sports & Entertainment, bought the last 25% of the company on Thursday, paying Kilmer Sports Inc. $4.35 billion (Canadian).
MLSE owns the NBA's Toronto Raptors, the NHL's Toronto Maple Leafs, MLS' Toronto FC and the CFL's Toronto Argonauts in addition to Scotiabank Arena, home of the Raptors and Leafs.
Rogers, whose media holdings include Sportsnet, also owns the Toronto Blue Jays and their
home field, Rogers Centre.
The company wrote in a press release, "Rogers will create a new business unit, Rogers Sports, that brings Rogers sports, media and entertainment businesses together including MLSE and the Toronto Blue Jays.
"Now that we have completed the acquisition, Rogers will now build the best operating model for Rogers Sports."
Rogers CEO Tony Staffieri added in a statement, "Our full ownership of MLSE brings together Canada's premier communications company with Canada's premier sports and entertainment organization.
"It gives us even more opportunity to invest in championship-calibre teams, create unique experiences for customers and fans, and unlock long-term value for shareholders."
Keith Pelley will stay on as MLSE's president and CEO, in addition to heading Rogers' media holdings. Mark Shapiro still will be the Blue Jays' president and CEO.
Kilmer, the holding company of Canadian billionaire Larry Tanenbaum, reached the deal with Rogers regarding its share in MLSE in July. According to The Athletic, the agreement regarding the Maple Leafs and Raptors had to get approval from the teams' leagues to close by the end of the year.
Rogers gained controlling interest in MLSE when it purchased 37.5% of the company from telecommunications firm Bell in a deal announced in September 2024. Within nine months, Rogers ousted the team presidents of the Maple Leafs and the Raptors.
(--Field Level Media)
