Rogers has officially become the majority owner of Maple Leaf Sports & Entertainment (MLSE), after buying out Bell’s 37.5% stake in the company for $4.7 billion.
The deal, which closed on July 1 after getting all necessary approvals, gives Rogers a 75% ownership share in MLSE, which owns the Toronto Maple Leafs, Raptors, Toronto FC, and other teams.
“MLSE is one of the most prestigious sports and entertainment organizations in the world and we’re proud to be the majority owner of these iconic sports teams,” said Rogers CEO Tony Staffieri in a statement on Wednesday in a press release. “Live sports are a core part of our business and core to the fans who live and breathe every moment.”
Rogers says it has invested over $15 billion in Canadian sports over the past 10 years, including ownership of the Toronto Blue Jays, the Rogers Centre, and Sportsnet. The company also holds national NHL media rights through 2038 and has long-term deals with teams like the Canucks, Oilers, and Flames.
“We’re passionate about winning and we’re committed to bringing more championships to fans in Canada,” said Edward Rogers, Executive Chair of Rogers.
Staffieri added that the MLSE deal is a strategic move that also makes business sense: “MLSE is a valuable and appreciating asset and this investment positions us to unlock more value for Rogers shareholders. We’re building something that lasts – on the ice, on the court, on the field, and across the country.”
Rogers funded the deal using a mix of cash and credit.
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