Rogers Communications has reached an agreement to acquire BCE’s 37.5% stake in Maple Leaf Sports and Entertainment for CA$4.7 billion ($3.48 billion based on current exchange rates). MLSE is the parent company of the NHL’s Toronto Maple Leafs, the NBA’s Toronto Raptors and MLS’ Toronto FC.
Rogers already owned 37.5% of MLSE, and it puts a total valuation on the entity of $9.3 billion. Rogers also owns the Toronto Blue Jays, who are worth $2.27 billion, according to Sportico. Larry Tanenbaum owns the remaining 25% stake in MLSE, which also includes the Canadian Football League’s Toronto Argonauts.
The transaction is expected to close in mid-2025, subject to league approvals.
“We are proud of our time as co-owners of these iconic sports teams, and through this agreement have ensured that fans can count on Bell’s continued support of their teams,” Mirko Bibic, BCE’s CEO, said in a statement. “Today’s announcement demonstrates that we are focused on creating the financial flexibility to support our ongoing transformation and core growth drivers.”
