Rogers Communications has acquired BCE’s 37.5% stake in Maple Leaf Sports and Entertainment (MLSE) for approximately CA$4.7 billion ($3.48 billion based on current exchange rates). This deal boosts Rogers’ ownership of MLSE to a total of 75%.
MLSE is the parent company of several major sports franchises, including the NHL’s Toronto Maple Leafs, the NBA’s Toronto Raptors, and MLS’s Toronto FC. The acquisition places a total valuation of MLSE at around $9.3 billion.
Prior to this transaction, Rogers already held a 37.5% stake in MLSE. With this purchase, Rogers further solidifies its position in the Canadian sports market. Additionally, the company owns the Toronto Blue Jays, valued at $2.27 billion, according to Sportico.
The remaining 25% stake in MLSE is owned by Larry Tanenbaum, which also encompasses the Canadian Football League’s Toronto Argonauts.
Rogers has chosen not to comment on the acquisition, and BCE has not yet responded to inquiries regarding the deal.
This acquisition marks a significant development, especially considering that in 2012, Rogers and BCE partnered to buy a majority of MLSE from the Ontario Teachers’ Pension Plan for CA$1.32 billion ($1.78 billion).