Rogers Acquires Bell's 37.5% Stake in MLSE for $4.7 Billion, Gains 75% Control

Sep 18, 2024, 02:35 PM

Rogers Communications Inc. has reached an agreement to acquire Bell's 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for $4.7 billion CAD, approximately $3.5 billion USD. This acquisition increases Rogers' ownership to 75% of MLSE, giving it majority control over the parent company of the Toronto Maple Leafs and Toronto Raptors. Edward Rogers will now have full control of the city's major sports teams. The deal significantly enhances Rogers' influence in the Canadian sports market, adding to its existing ownership of the Toronto Blue Jays. The transaction, which is expected to close next year, marks a major shift in the ownership structure of MLSE, with implications for the broadcasting rights and future operations of the sports teams involved.