Rogers will acquire a 37.5% stake in MLSE from BCE for $3.5 million

Rogers Communications has reached an agreement to acquire Bell Canada Enterprise’s 37.5% stake in Maple Leaf Sports and Entertainment for CA$4.7 billion ($3.48 billion at current exchange rates). MLSE is the parent company of the NHL Toronto Maple Leafsof the NBA Toronto Raptors and Toronto FC of the MLS.

Rogers already owned 37.5% of MLSE and puts a total valuation of the entity at $9.3 billion. Rogers also owns the Toronto Blue Jays, which are worth it 2.27 billion dollarsseconds sportive. Larry Tanenbaum owns the remaining 25% of MLSE, which also includes the Canadian Football League’s Toronto Argonauts.

The transaction is expected to close in mid-2025.

“We are proud of our time as co-owners of these iconic sports teams, and through this agreement we have ensured that fans can count on Bell’s continued support for their teams,” BCE CEO Mirko Bibic said in a communicated “Today’s announcement demonstrates that we are focused on building the financial flexibility to support our ongoing transformation and key growth drivers.”

BCE intends to use the proceeds to reduce debt and support its ongoing “telecom to technology” transformation. In addition, Bell Media reached a long-term deal with Rogers for the rights to broadcast the Maple Leafs and Raptors on TSN for the next 20 years. Bell will also remain the official telecommunications sponsor of the Raptors, along with sponsorships of the Argonauts and Toronto FC.

In 2012, rival telecommunications giants Rogers and BCE teamed up to buy MLSE’s majority stake in the Ontario Teachers’ Pension Plan for C$1.32 billion ($1.78 billion). The value of NBA and NHL teams has exploded since then. sportive most recently rated the Raptors 4.1 billion dollarsthe ninth highest in the NBA, and the Maple Leafs a 2.65 billion dollarstops in the NHL. In January, sportive reported that Toronto FC was rated at 725 million dollarsninth overall in MLS.

MLSE’s ownership structure is unique among major sports franchises. In addition to the competitors owning equal stakes, Tanenbaum, with the smallest stake of the three groups, was president of the MLSE and served as governor of the Raptors, Maple Leafs and Toronto FC in league matters. Last week, the NBA re-elected the 79-year-old billionaire as chairman of the NBA board. Rogers and BCE had the right to buy Tanenbaum’s stake in MLSE in 2026.

Last year, Rogers and BCE challenged Tanenbaum’s plan to sell a 20% stake in Kilmer Sports to the Ontario Municipal Employees Retirement System (OMERS). Kilmer owns Tanenbaum’s stake in MLSE, and the deal valued MLSE at $8 billion. The transaction was finally approved.

“MLSE is one of the most prestigious sports and entertainment organizations in the world and we are proud to expand our ownership of these coveted sports teams,” said Rogers CEO Tony Staffieri. “MLSE continues to appreciate significantly, and together with our sports and media assets, we plan to unlock more value for shareholders over the long term.”

(This story has been updated throughout with more information about the sale and to clarify that MLSE has reached an agreement to acquire Bell Center Enterprise’s stake.)

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top