Bell and MLSE Chairman to Acquire the Toronto Argonauts in ‘Imminent’ Sale
Looks like Bell is set to acquire another pro sports team, as sources tell The Canadian Press the sale is imminent.
The Toronto Argonauts are on the verge of being sold to Bell and MLSE chairman Larry Tanenbaum.
A league source confirms that the sale of the CFL team is imminent.
Maple Leaf Sports and Entertainment is 75% owned evenly by Bell and Rogers, but the latter is absent from the deal, as they were said to be not interested in acquiring the team, owned by David Braley, the owner of the BC Lions.
Rogers, which owns the Toronto Blue Jays, years ago told the Argonauts it would have to vacate Rogers Centre, as there are plans to install grass after the 2017 CFL season.
The Argos would play at BMO Field, which would require $20 million in renovations to meet CFL field standards, with MLSE to pay half of that cost, along with two Grey Cups to be hosted at the field as part of the deal. TSN first reported the potential sale of the Argonauts last month.
Again, this means a major sports franchise in Toronto would be under control of either Bell or Rogers, which would again continue to push streaming of these events via mobile (via apps like TSN GO for iOS), while similarly cross promoting its sports teams across its media outlets and retail stores.