Rogers officially acquires Toronto Maple Leafs stakes in massive deal
Photo credit: Toronto Star
Rogers officially acquired Toronto Maple Leafs stakes in a massive deal with Bell.
As confirmed by multiple reports, Rogers Communication decided to buy out Bell Canada out of the Maple Leafs Sports & Entertainment group for $4.7B. Rogers now has a $9.3B part of the Leafs, in addition of owning the Toronto Blue Jays, in the MLB, which is worth $2.27B.
Bell stated that the deal should be closed in less than a year. It is believed that before 2026, the remaining of the stakes, which are owned by Larry Tannenbaum, should also be acquired by Rogers.
Tony Staffieri, CEO and President of Rogers Communication, commented on the situation, saying how proud he is to be associated with one of the most legendary Canadian sports team:
«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. As Canada's leading communications and entertainment company, live sports and entertainment are a critical part of our core business strategy.»
This could change a lot of things in Toronto. With new owners, we often see some changes in the organization. They could bring some fresh air on the infrastructures or development programs, which would help the team in the long run.
By buying a stake of the team at that price, Rogers also set a benchmark for other teams. Even if the Leafs are one of the most valuable teams in the NHL, this move could help with the value of other organizations, possibly impacting the salary cap over time.
| POLL | ||
18 SEPTEMBRE | 47 ANSWERS Rogers officially acquires Toronto Maple Leafs stakes in massive deal Do yo uthink Rogers will become the sole owner of the Toronto Maple Leafs by 2026? | ||
| Yes | 39 | 83 % |
| No | 8 | 17 % |
| List of polls | ||
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