Rogers has closed a deal with Bell for 37.5 per cent ownership of Maple Leaf Sports & Entertainment
On July 2, Rogers announced the closing of their purchase for the 37.5 per cent ownership stake of Maple Leaf Sports & Entertainment (MLSE) held by Bell Canada Enterprises (BCE).
Following this transaction, Rogers became the majority owner of the MLSE, holding a 75 per cent stake in the company.
“MLSE is one of the most prestigious sports and entertainment organizations in the world and we’re proud to be the majority owner of these iconic sports teams,” said Tony Staffieri, President and CEO of Rogers in a press release. “Live sports are a core part of our business and core to the fans who live and breathe every moment.”
Over the past decade, Rogers has invested over $15 billion in Canadian sports. The acquisition of majority ownership of the MLSE expands Rogers’ already large sports portfolio, which includes the Toronto Blue Jays, Sportsnet, and the Rogers Centre. The MLSE owns many teams, including the Toronto Maple Leafs and Raptors.
Along with purchasing the stake of MLSE, Rogers recently signed a 12-year extension for the NHL’s Canadian media rights. This transaction was closed on July 1 after approval from all necessary parties.
Image Source: Shuttershock
Source: Rogers
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