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Rogers Acquires Bell's 37.5% Stake in MLSE for $4.7 Billion, Now Holds 75% of Maple Leafs and Raptors

Sep 18, 2024, 01:29 PM

Rogers Communications Inc. has reached an agreement to acquire Bell's 37.5% ownership stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion (approximately $3.5 billion USD). This acquisition will give Rogers a 75% controlling interest in MLSE, which owns major sports teams including the Toronto Maple Leafs, Toronto Raptors, and Toronto FC. The deal marks a significant shift in the Canadian sports landscape, with Rogers solidifying its position as a dominant player. Bell will have the opportunity to retain existing broadcast rights for certain games, such as 50% of Raptors games. Rogers also owns the Toronto Blue Jays, further expanding its influence in the sports industry. The transaction follows the 2012 sale of MLSE by Ontario Teachers to a Rogers/Bell consortium. Larry Tanenbaum, who has had a significant influence on MLSE, is expected to exit around 2026.