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2mo ago

Rogers Secures 75% Stake in MLSE with $4.7B Acquisition

The telecom giant is preparing to monetize part of its sports portfolio through minority sales or an IPO ahead of its option to acquire the remaining stake in 2026

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Scotiabank Arena before a Toronto Maple Leafs game in May. Rogers has closed a deal to become the majority owner of the parent company of sports teams including the Maple Leafs, Toronto Raptors and Toronto Argonauts.
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Overview

  • Rogers closed its $4.7 billion purchase of BCE’s 37.5 per cent MLSE stake, raising its holding to 75 per cent after receiving all regulatory and league approvals.
  • The acquisition makes Rogers the majority owner of MLSE, which oversees the Toronto Maple Leafs, Raptors, Argonauts and Toronto FC.
  • With full ownership of the Blue Jays and Sportsnet, Rogers now controls teams in four of North America’s five major leagues alongside Canada’s largest sports media brand.
  • CEO Tony Staffieri says the company plans to unlock shareholder value by selling minority stakes or infusing private equity and may explore an IPO for its sports assets.
  • Rogers expects to exercise its 2026 option to purchase the remaining 25 per cent of MLSE held by Larry Tanenbaum’s Kilmer Sports.