Rogers has received the green light from five major sports leagues for its $4.7-billion purchase of BCE’s 37.5% stake in Maple Leaf Sports & Entertainment (MLSE). BCE is the parent company of Bell.
The move brings Rogers closer to holding a 75% majority stake in the company behind some of Canada’s biggest sports teams.
The NHL, NBA, CFL, MLS, and AHL have all approved the deal, which values MLSE at $12.5 billion—a record for Canadian sports franchises, according to the Globe and Mail. MLSE owns the Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts, and Toronto FC.
Rogers is still waiting for the Canadian Radio-television and Telecommunications Commission (CRTC) to approve its increased indirect interest in the Toronto Raptors Network Ltd., a basketball-focused TV station.
The company expects the deal to close by mid-2025 and also holds the right to buy the remaining 25% of MLSE from chair Larry Tanenbaum in 2026.
Rogers says securing long-term control of live sports is key to retaining customers as more Canadians move away from traditional TV in favour of streaming. The company is also exploring opportunities to raise its share price by attracting institutional investors to its growing sports portfolio. Some analysts believe Rogers could turn MLSE into a major sports IPO worth over $16 billion.
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