Rogers Communications is set to tighten its grip on Toronto sports after announcing a deal Monday to buy the remaining 25 per cent of Maple Leaf Sports & Entertainment it didn’t already control.
The reported price tag: $4.35 billion, paid to Larry Tanenbaum and Kilmer Sports Inc.
With MLSE in hand, Rogers would own the Toronto Maple Leafs, Toronto Raptors, Toronto FC and Toronto Argonauts - a massive slice of the city’s pro sports landscape. The only top-tier Toronto teams outside its portfolio are the PWHL’s Toronto Sceptres, which are owned by the league, and the WNBA’s Toronto Tempo, owned by Tanenbaum through Kilmer Sports Inc.
Tanenbaum has been MLSE chair for nearly 28 years, and his run has included some of the biggest moments in Toronto sports. Under his tenure, the city won several Grey Cup championships, Toronto FC captured the 2017 MLS Cup, and the Raptors delivered their first NBA title in 2019.
Rogers’ path to full control has been quick. It bought Bell’s 37.5 per cent stake in MLSE in 2024, then climbed to 75 per cent nearly a year later, becoming the majority owner. The new deal would finish the job.
The company already has deep roots in Toronto sports. It has owned the Blue Jays and the Rogers Centre since 2000, and Sportsnet remains a major part of its sports business.
In announcing the transaction, Rogers said it will keep investing in championships, the fan experience and sports content for Canadians.
“Our full ownership of MLSE brings together Canada's premier communications company with Canada's premier sports and entertainment organization,” said Tony Staffieri, Rogers president and CEO.
“It gives us even more opportunity to invest in championship-calibre teams, create unique experiences for customers and fans, and unlock long-term value for shareholders.”
Rogers said it expects the deal to close in the fourth quarter of this year, pending league approvals.
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