Rogers Communications has agreed to buy Bell’s 37.5% interest in Maple Leaf Sports & Entertainment for $4.7B, giving Rogers a majority stake in Canada’s most valuable sports empire and advancing Rogers executive chairman Edward Rogers’ standing as one of Canada’s most powerful Show more
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Rogers purchases Bell’s share of Maple Leaf Sports & Entertainment
Photo credit: John E. Sokolowski-USA TODAY Sports
By Jon Steitzer
Sep 18, 2024, 11:30 EDTUpdated: Sep 18, 2024, 11:20 EDT
The MLSE marriage between Rogers and Bell is finally ending in divorce with Rogers getting the kids.
The two telecommunications giants have agreed to Rogers purchasing Bell’s 37.5% stake in Maple Leaf Sports & Entertainment for $4.7B. ($4,700,000,000 if you want to see it written out more impressively.)
MLSE’s statement on purchase (via Blake Murphy):
“MLSE has been fortunate to have one of the very best ownership groups in sports and entertainment for many years and it has led to MLSE becoming one of the leading organizations in our industry As an organization, we are grateful for their contributions, and we remain fully focused on our priorities and further driving a championship mentality across MLSE.”
The move gives Rogers the controlling stake in every male professional sports team in Toronto, as Rogers already owns the Toronto Blue Jays in addition to their MLSE properties. While Rogers’ ownership of the Blue Jays draws criticism, it is entirely possible that MLSE moving in a singular direction could benefit the Maple Leafs and Raptors.
Bell’s decision to back out of the ownership of MLSE has led to speculation that they will be going all-in on the NHL broadcast rights in Canada, but in the short term both TSN4 and Sportsnet Ontario will split the local rights to the Maple Leafs.
In the long term MLSE said in a statement “Sportsnet will continue to broadcast 50% of Maple Leafs regional games & 50% of Raptors games controlled by MLSE … deal will provide Bell with the opportunity to renew its existing MLSE broadcast and sponsorship rights long-term at fair market value.”
A move of this magnitude has the potential to show up in operations, and on the opening day of NHL training camps the Leafs are probably not going to experience any change of vision in the 2024-25 season. There might just be some added pressure from Rogers to build some playoff revenue after shelling out $4.7B for a larger piece of the pie.
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