Rogers Communications Takes Full Ownership of MLSE, Home of the Toronto Maple Leafs and Raptors

Wednesday, September 18th, 2024

Rogers Communications now has majority ownership of Maple Leaf Sports & Entertainment (MLSE), Canada's largest sports conglomerate, after purchasing Bell Canada Enterprises' 37.5% stake for $4.7 billion. MLSE owns the Toronto Maple Leafs (NHL), Toronto Raptors (NBA), Toronto FC (MLS), Toronto Argonauts (CFL), Toronto Marlies (AHL), and Raptors 905 (NBA G League). Rogers and Bell had initially acquired a combined 75% stake in MLSE in 2012. With this recent acquisition, Rogers now holds the majority share, while MLSE chair Larry Tanenbaum owns 20%. Tony Staffieri, the president and CEO of Rogers, underlined the significant role that live sports and entertainment play in Rogers' business strategy. Although Bell sold its stake, it still retains broadcasting rights to 50% of the games for the Leafs and Raptors under MLSE's ownership, while the Rogers-owned network Sportsnet will continue to broadcast the other half. Since the initial acquisition by Rogers and Bell, the value of the Maple Leafs and Raptors has surged. Forbes now ranks the Leafs as the most valuable NHL team, and Sportico has placed the Raptors as the ninth most valuable NBA team. MLSE president and CEO Keith Pelley expressed appreciation for the support from both Rogers and Bell and stressed the organization's dedication to success.

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