Massive chunk of Toronto Maple Leafs sold in $4.7 billion dollar deal: the hockey world has changed
A record-breaking $4.7 billion deal sees Rogers acquire the majority ownership of the NHL's Toronto Maple Leafs, as well as the NBA's Toronto Raptors
The landscape of the NHL has changed following a massive deal that sees a new company in control of one of the league's most storied franchises. Rogers has acquired a 37.5 percent stake in Maple Leafs Sports and Entertainment (MLSE) from Bell Canada, making Rogers the majority owner of the Toronto Maple Leafs and the NBA's Toronto Raptors.
"Rogers already owned 37.5% of MLSE, and it puts a total valuation on the entity of $9.3 billion. Rogers also owns the Toronto Blue Jays, who are worth $2.27 billion, according to Sportico. Larry Tanenbaum owns the remaining 25% stake in MLSE, which also includes the Canadian Football League's Toronto Argonauts."
Rogers and Bell teamed up in 2012 to purchase the majority of MLSE from the Ontario Teachers' Pension Plan for $1.32 billion. This new deal takes Bell out of the equation all together.
It remains to be seen what, if any, changes Rogers intends to make to either the Toronto Maple Leafs or the Toronto raptors. One this is certain, the deal makes Rogers a massive powerhouse in Canadian sports, and the sports world in general.
"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 of Rogers.
"As Canada's leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy."
"As Canada's leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy."
Rogers doesn't necessarily have a good track record with customers in the telecom industry. However, this new deal puts the company in a very powerful position. Both Rogers and Bell have declined to comment on the deal.
| POLL | ||
SEPTEMBRE 18 | 300 ANSWERS Massive chunk of Toronto Maple Leafs sold in $4.7 billion dollar deal: the hockey world has changed Do you think Rogers will do a good job running the Toronto Maple Leafs? | ||
| Yes | 60 | 20 % |
| No | 168 | 56 % |
| Not sure | 72 | 24 % |
| LIST OF POLLS | ||
Top 10 latest hockey stories
