Official announcements from Rogers Communications or Bell, regulatory filings

Rogers Communications Acquires 75% Ownership in MLSE for $4.7 Billion

Sep 18, 2024, 02:35 PM

Rogers Communications Inc. has reached an agreement to buy Bell's 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion (approximately $3.5 billion USD). This acquisition increases Rogers' ownership to 75% of MLSE, making it the majority owner. MLSE owns prominent sports teams including the Toronto Maple Leafs, the Toronto Raptors, and the Toronto FC. The deal, which was initially made in 2011 when both Bell and Rogers each bought a 37.5% stake, signifies a significant shift in the Canadian sports landscape. Bell will retain some existing broadcast rights, such as 50% of Raptors games. The acquisition is expected to close next year, and Rogers plans to bring in additional private investors. Larry Tanenbaum is anticipated to exit MLSE by 2026. This move solidifies Rogers' position as a dominant player in the sports industry, particularly in Canada, and adds to its ownership of the Blue Jays.