A Major Stake in the Toronto Maple Leafs Sold for A Record $4.7 Billion dollar transaction
Photo credit: New York Times
A $4.7 Billion transaction between Rogers Communication and MLSE has reshaped the ownership group of the Toronto Maple Leafs, and Toronto Raptors.
The deal which has been completed, gives Rogers Communications a major stake in MLSE, Maple Leafs Sports and Entertainment.
It expands the company's role in the sports landscape of Canada.
Rogers now owns 37.5% of MLSE and from Bell Canada, and now owns a significant portion of two major sports franchises in Toronto, the Maple Leafs and Raptors.
Sportico reports that this transaction completed, values MLSE at a whopping $9.3 Billion, ensuring Rogers Communication as a stronghold in the sports industry.
"Rogers already owned 37.5% of MLSE, and it puts a total valuation on the entity of $9.3 billion. Rogers also owns the Toronto Blue Jays, who are worth $2.27 billion, according to Sportico. Larry Tanenbaum owns the remaining 25% stake in MLSE, which also includes the Canadian Football League's Toronto Argonauts."
This sees Rogers own the majority stake once shared between themselves and Bell in 2012 which bought a majority stake from the Ontario Teachers and Pension Plan for $1.32 Billion. Bell Canada has exited ownership entirely,
What's next?
It's interesting to ponder what changes could occur with Rogers Communications at the helm of both the Maple Leafs and Raptors. There are no indications or announcements of plans to be implemented as of yet, but Rogers remains a compelling force in Canadian sports.
The company also owns the Toronto Blue Jays, which means they have a spectrum of dominance in Toronto.
"MLSE is one of the most prestigious sports and entertainment organizations in the world, and we're proud to expand our ownership of these coveted sports teams,» said Tony Staffieri, President and CEO of Rogers.
"As Canada's leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy."
"As Canada's leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy."
Rogers Communications' majority stake in MLSE means it holds a great amount of power in the local media. Its track record in the telecom industry leaves much to be desired, however. Rogers and Bell Canada have refused to comment on the matter.
With new ownership at the helm, there's no word of major changes for the Maple Leafs in the long run. But we await in the coming years, for new edicts, and a new direction should GM Brad Treliving fail to deliver.
Source: Hockey Trade Rumors
Major stake in Toronto Maple Leafs sold in $4.7 billion record-breaking transaction
Major stake in Toronto Maple Leafs sold in $4.7 billion record-breaking transaction
| POLL | ||
18 SEPTEMBRE | 44 ANSWERS A Major Stake in the Toronto Maple Leafs Sold for A Record $4.7 Billion dollar transaction Do you think the Maple Leafs will be worse off with new ownership? | ||
| Yes | 15 | 34.1 % |
| No | 29 | 65.9 % |
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