Rogers Communications, the Canadian communications/media giant that previously owned 75% of Maple Leafs Sport & Entertainment, now has 100% control of Predators‘parent company, for a Rogers press release.
Until now, Rogers owned 37.5% of Maple Leaf Sports & Entertainment September 2024when it bought a 37.5% stake in BCE (Bell) on the MLSE to increase its stake in the company to 75%. The ownership agreement gave Rogers the right to buy out the remaining 25%, which is mostly owned Larry TanenbaumKilmer Sports Inc.
Preliminary reporting indicated that Tanenbaum had until July 7, 2026 to begin that sale process, and on July 6, Rogers announced that reached a deal for the purchase of the remaining 25% of shares. The purchase agreement was subject to approval by the various leagues that include the MLSE teams and was expected to close by the end of 2026.
Rogers paid C$4.35 billion for the remaining 25% of the company, equivalent to approximately US$3.06 billion.
The Raptors are considered the most valuable asset in MLSE’s portfolio, with a Scored by Sportico 5.22 billion dollars. The company also controls the NHL’s Toronto Maple Leafs, the MLS club Toronto FC, and several minor sports teams such as the Toronto Argonauts (Canadian Soccer League) and the Raptors 905 (G League). The company also owns and operates the Scotiabank Center and the OVO Athletic Center, the Raptors’ home arena and practice facility, respectively.
“We’re proud to bring these beloved teams together with the rest of Rogers to do more for fans, viewers and customers“, he said Tony StaffieriPresident and CEO Rogers. “We know how much these teams mean to fans, and we are fully committed to investing in building championship-caliber teams, improving the fan experience and delivering compelling experiences for our customers..”
Tanenbaum was a long-time governor of the Raptors and chairman of the MLSE, as well as chairman of the NBA Board of Governors. However, the plan was for him to officially step down from those roles. Tannenbaum was expected to step down as Raptors executive and chairman of the NBA’s board of governors at the end of September and leave his position at MLSE after the sale is completed.
During an earnings call in late July, Rogers CFO Glenn Brandt said the company plans to sell a minority stake in MLSE at some point in the first half of 2027 after it takes full control. However, Thursday’s announcement did not reveal those plans.
