Rogers Communications intends to buy the remaining 25% ownership stake in Maple Leaf Sports & Entertainment (MLSE), subject to approvals.
Rogers previously bought out Bell’s 37.5% ownership stake for C$4.7 billion. Sport investment group Kilmer Sports owns the remaining 25% share, valued at $4.35 billion.
MLSE’s holdings encompass the Toronto Maple Leafs, Toronto Raptors, Toronto FC, Toronto Argonauts, Toronto Marlies of the American Hockey League, the NBA G League Raptors 905, MLS Next Pro team TFC II, and the Raptors Uprising Gaming Club, the Toronto Raptors esports franchise in the NBA 2K League. MLSE also owns and operates Toronto’s Scotiabank Arena and has invested in and operates five other Toronto sports facilities.
“This is a defining moment for Rogers. Our full ownership of MLSE brings together Canada’s premier communications company with Canada’s premier sports and entertainment organization,” said Tony Staffieri, President and CEO, Rogers, in a company announcement. “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.”
“Sports is a great unifier, it rallies us and brings us together in a truly unique way,” added Edward Rogers, Executive Chair, Rogers. “Winning is everything for fans and we’re committed to investing to bring championships to Canada as a proud owner and long-term steward of these beloved teams.”
The transaction would see Larry Tanenbaum exit MLSE, who has been in an ownership position for the last 30 years and currently serves as Chair Emeritus on the Board of Directors.
Rogers reaffirmed earlier this year that it’s doubling down on its sports strategy, bringing together “its full sports and entertainment portfolio to deliver unique and compelling offers and experiences to fans and to Rogers customers.”
“We will create more opportunities for fans to connect with the teams they love, and we will invest to deliver unique and compelling rewards for our customers,” said Staffieri.
“Sports and entertainment are a core part of our business, and we plan to bring our world-class sports and entertainment assets together and surface more value for our shareholders long-term,” he continued. “The strategic value of our sports business is even greater when you combine it with our core connectivity business – it gives us a unique value proposition to compete in a very crowded marketplace.”
Rogers said in the announcement, it intends to finance the MLSE transaction by selling a minority stake in its consolidated Rogers sports, media and entertainment assets over the next year.
Subject to league approvals, the transaction is expected to close in Q4 2026.
