TORONTO – Rogers Communications has received all necessary league approvals to buy out rival Bell’s 37.5 per cent stake in Maple Leaf Sports & Entertainment, the telecommunications company said Wednesday.
Rogers announced Sept. 18 that it was buying Bell’s stake in Toronto-based MLSE, which includes the NHL’s Maple Leafs, NBA’s Raptors, CFL’s Argonauts, Major League Soccer’s Toronto FC and the American Hockey League’s Marlies, for $4.7 billion.
Rogers said Wednesday those five leagues have signed off on the deal that would see it increase its ownership stake in the company to 75 per cent.
The deal also includes the transfer of NBA TV (Canada) from Bell to Rogers, and that aspect is subject to approval from the Canadian Radio-television and Telecommunications Commission.
Rogers’ sports portfolio also includes Major League Baseball’s Toronto Blue Jays and their Rogers Centre home.
MLSE chairman Larry Tanenbaum, via his holding company Kilmer Sports Inc., owns the company’s other 25 per cent stake. OMERS, a Canadian pension fund, purchased a five per cent indirect stake in MLSE in the summer of 2023 through a 20 per cent direct stake in Kilmer Sports for US$400 million.
