TORONTO – Toronto FC soccer team owner Maple Leaf Sports & Entertainment said today that it will buy majority ownership of GolTV from Insight Sports.
The agreement to purchase, the price for which was not disclosed, was made by one of MLSE’s affiliate companies, which will see it acquire an 80.1% stake in the 24-hour soccer network. The transaction will require CRTC approval.
"Given Maple Leaf Sports & Entertainment’s operation of Toronto FC, its on-going investment in soccer in Canada and its existing broadcast business we believe soccer fans will continue to be extremely well-served," said Mark Rubinstein, president of Insight Sports, said the press release announcing the agreement.
"Insight Sports remains committed to our other strong broadcast properties, WFN: World Fishing Network and GameTV and are excited about a number of upcoming initiatives that will be announced shortly regarding both networks,” added Rubinstein.
"GolTV is a great acquisition for our organization," said Tom Anselmi, EVP and COO of MLSE. "We’re looking to take GolTV programming to the next level, which will benefit soccer, and support the development of the game at both the professional and grassroots levels. GolTV is 100% dedicated to soccer and will continue to feed the insatiable appetite of soccer fans across our country."
MLSE, owners of The Toronto Maple Leafs and LeafsTV, as well as the Toronto Raptors and RaptorsTV, will use GolTV to “create greater programming opportunities for our soccer club Toronto FC and also help the growth of Major League Soccer in Canada,” added Anselmi.
GolTV’s current soccer programming ranges from live league action from Europe and South America to behind the scenes access to some of soccer’s biggest superstars in the world. GolTV Canada will also have exclusive coverage of qualifying Italian, Spanish and South American matches leading up to the 2010 World Cup.
GolTV U.S. will still retain an ownership stake of 19.9% in GolTV Canada and will supply soccer game broadcasts from South American and various European leagues.
