Toronto Maple Leafs officially sold to Canadian business conglomerate
Photo credit: USA Today's FTW
In what is being described as a historical deal, Bell's stake of MLSE has been sold to Rogers, making them the majority owners of the Maple Leafs.
Rogers Communications acquired BCE's 37.5% ownership in Maple Leafs Sports and Entertainment for CA$4.7 billion, or $3.48 billion in U.S. dollars. The majority of the ownership is in the NHL's Toronto Maple Leafs, the NBA's Toronto Raptors, and the MLS's Toronto FC.
The deal values the entire company at $9.3 billion, accounting for Rogers' previous 37.5% stake in MLSE. The Toronto-based communications company also has ownership of Major League Baseball's Toronto Blue Jays, which Sportico valued at $2.27 billion. The remaining 25% stake in MLSE, which also operates the CFL's Toronto Argonauts, belongs to Larry Tanenbaum.
While Rogers declined to comment on the deal, a comment is still pending from BCE.
In 2012, competitors Rogers and BCE collaborated to purchase a majority of MLSE from the Ontario Teachers' Pension Plan for CA$1.32 billion or $1.78 billion USD at the time.
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18 SEPTEMBRE | 127 ANSWERS Toronto Maple Leafs officially sold to Canadian business conglomerate Will the Toronto Maple Leafs win the Stanley Cup this season? | ||
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