Rogers closes deal with BCE to become majority owner of Maple Leafs Sports & Entertainment
Rogers Communications Inc. has officially completed its acquisition of BCE Inc.’s 37.5 per cent stake in Maple Leaf Sports & Entertainment (MLSE), solidifying its position as the majority owner of the prestigious sports and entertainment organization. With this transaction, Rogers now holds a commanding 75 per cent stake in MLSE, which is the parent company of iconic sports teams such as the Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts, and Toronto FC.
The deal, valued at $4.7 billion, was successfully closed on Tuesday after obtaining the necessary regulatory approvals and league consent. Rogers’ Chief Executive Officer, Tony Staffieri, expressed his excitement about the acquisition, highlighting MLSE as one of the most renowned sports and entertainment entities globally.
This strategic move significantly expands Rogers’ sports portfolio, which already includes assets like the Toronto Blue Jays, Rogers Centre, and Sportsnet. Earlier this year, Rogers inked a lucrative 12-year, $11 billion agreement with the National Hockey League (NHL) for the national media rights to NHL games until 2037-2038. This new deal will come into effect once the current 12-year agreement concludes.
The acquisition of MLSE further solidifies Rogers’ stronghold on Toronto’s professional sports landscape, as the company now controls all major men’s sports teams in the city, including the Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts, Toronto FC, and the American Hockey League’s Toronto Marlies.
As Rogers continues to expand its presence in the sports and entertainment industry, this acquisition reinforces the company’s commitment to delivering top-tier sports content and experiences to fans across Canada. The integration of MLSE into Rogers’ diverse portfolio sets the stage for exciting developments and enhanced offerings for sports enthusiasts nationwide.
