Rogers Communications is one step closer to buying out Bell's stake in Maple Leaf Sports & Entertainment.
The communications and entertainment company announced Wednesday it received approvals from the NHL, AHL, NBA, CFL and MLS to become 75 percent owners of MLSE, which owns the Toronto Maple Leafs, Toronto Marlies, Toronto Argonauts and Toronto FC.
“We’re pleased to have league approvals to expand our ownership of MLSE, one of the most prestigious sports and entertainment organizations in the world,” Rogers president-CEO Tony Staffieri said in a press release. “As Canada’s leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy.”
Rogers previously announced its agreement to buy Bell's stake in September 2024 for $4.7 billion Cdn.
"We’re not only happy to be consolidating our ownership, but Bell and TSN are staying partners in Maple Leaf Sports and Entertainment, and we think that’s a good thing," Edward Rogers, executive chairman of Rogers Communications, told The Hockey News publisher-owner W. Graeme Roustan in the 2025 Money & Power issue. "They’ve been great partners. But we’re bullish for the future in being a 75-percent holder. We’ve still got strong partners in Kilmer Sports and OMERS, and we’re very bullish as we look out into the future."
When asked whether Rogers plans to buy the remaining 25-percent stake, Edward Rogers said the company is focused on closing the current deal now.
"We’ll see what happens in the future, but we’re taking it one step at a time," he said.
The Graeme Roustan Show: Edward Rogers And Tony Staffieri
Edward Rogers, the executive chairman of Rogers Communications, and Tony Staffieri, the president-CEO of Rogers Communications, discuss their backgrounds in hockey, why the Rogers company wanted to invest in the Maple Leafs and when a Stanley Cup is coming to Toronto.
In Wednesday's announcement, Rogers Communications said the deal to buy Bell's stake had already received approval from Canada's Competition Bureau, and it is subject to approval from the Canadian Radio-television and Telecommunications Commission to acquire "an additional indirect interest in Toronto Raptors Network Ltd.," which runs specialty channel NBA TV Canada.
The Maple Leafs finished first in the Atlantic Division with 108 points, beat the Ottawa Senators in the first round of the playoffs but lost to the Florida Panthers in the second round. The Marlies, meanwhile, finished ninth out of 11 teams in the AHL's Eastern Conference and lost 2-0 to the Cleveland Monsters in the best-of-3 first-round series.
Promo image credit: John E. Sokolowski-Imagn Images
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