- Rogers is buying Kilmer Sports’ remaining 25 percent of MLSE for C$4.35 billion
- The deal gives Rogers 100 percent ownership of the Maple Leafs, Raptors, TFC and Argonauts
- Read below for what it means for Leafs fans and Larry Tanenbaum’s exit
Rogers is about to own the Maple Leafs outright.
The company announced Monday it signed a deal to buy Kilmer Sports’ remaining 25 percent stake in Maple Leaf Sports & Entertainment for C$4.35 billion. That takes Rogers to 100 percent ownership of MLSE, the group that runs the Leafs, the Raptors, Toronto FC and the Argonauts.
The telecom giant already held 75 percent after buying BCE’s stake for $4.7 billion. This last chunk hands Rogers full control of one of the most valuable sports portfolios in North America.
Tony Staffieri, Rogers’ president and CEO, called it a milestone for the company. He talked about what full ownership opens up.
“Our full ownership of MLSE brings together Canada’s premier communications company with Canada’s premier sports and entertainment organization,” Staffieri said. “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.”
The 25 percent came from Kilmer Sports, the firm controlled by Larry Tanenbaum. He has been the governor of the Leafs and Raptors for years and a central figure at MLSE for decades. Edward Rogers, the company’s executive chair, thanked him for his run.
“For decades, Larry has helped shape MLSE and we thank him for his partnership and his lasting impact,” Rogers said.
For Leafs fans, the pitch is more spending. Rogers keeps pointing to championships and promising to invest, which is exactly what a fan base that hasn’t been past the second round in a while wants to hear. Whether the roster gets better is a separate question from who signs the checks.
The front office still has plenty to sort out this summer, from the Werenski trade talk that fizzled to rounding out the roster.
The deal needs league approvals and is expected to close in the fourth quarter. Rogers also owns the Blue Jays, Rogers Centre and Sportsnet, so the Leafs now sit inside a much bigger Toronto sports machine.
