Rogers Communications Inc. announced Thursday it has completed the acquisition of Maple Leaf Sports & Entertainment (MLSE), acquired the remaining 25 per cent ownership stake in the sports and entertainment company from Kilmer Sports Inc. for $4.35 billion.
The deal brings the remaining Toronto sports franchises – the Maple Leafs, Raptors, Toronto FC, Argonauts, and their affiliated development teams – under the same ownership umbrella as the Toronto Blue Jays, along with adding Scotiabank Arena, and its partnership with Live Nation to Rogers Centre, Sportsnet, and over 30 television networks and more than 40 radio stations to a new Rogers Sports unit.
“MLSE has some of the most iconic sports teams, they are part of the fabric of our communities and our country,” said Edward Rogers, Executive Chair, Rogers in a statement. “Sports fans invest more than their money into their teams, they invest their time, passion and dreams. Their investment is personal and so is our responsibility.”
As a result of the takeover, the executive structure will remain unchanged with Keith Pelley as President and CEO of MLSE, while adding Rogers Media to his responsibilities, and Mark Shapiro remaining President and CEO of the Toronto Blue Jays.
“We know how much these teams mean to fans and we are fully committed to investing to build championship-calibre teams, to enhancing the fan experience, and to delivering compelling experiences for our customers,” said Tony Staffieri, President and CEO, Rogers.
The company has previously discussed a plan to monetize its combined sports and media assets, which it estimates are worth more than $25 billion in total, saying it will sell minority stakes in the portfolio to other investors by the first half of 2027 and use those proceeds to pay down debt.
Files from The Canadian Press were used in this report.
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