Rogers on Monday announced it has signed an agreement to buy the remaining 25-per-cent ownership stake in Maple Leaf Sports and Entertainment (MLSE) from Larry Tanenbaum’s holding company Kilmer Sports Inc. for $4.35 billion, giving the cable giant sole ownership in the sports empire.
“This is a defining moment for Rogers. Our full ownership of MLSE brings together Canada’s premier communications company with Canada’s premier sports and entertainment organization,” Tony Staffieri, president and CEO of Rogers, said in a Monday press release. “It gives us even more opportunity to invest in championship-calibre teams, create unique experiences for customers and fans, and unlock long-term value for shareholders.”
Rogers said Monday it expects the transaction, still subject to league approvals, to close in the fourth quarter of 2026. The company previously became a 75-per-cent owner when it purchased Bell’s 37.5-per-cent stake in the sports company last year.
During a first-quarter earnings conference call in April, Rogers estimated the value of its sports and media business will exceed $25 billion after buying out the remaining stake in MLSE.
As previously disclosed, Rogers said it intends to sell a minority stake in the consolidated Rogers sports, media and entertainment assets over the course of the next year.
MLSE owns the Toronto Maple Leafs, Toronto Raptors, Toronto Football Club and Toronto Argonauts, as well as the Toronto Marlies of the American Hockey League, the Raptors 905 of the NBA G League, and the MLS Next Pro team Toronto FC II. MLSE also owns and operates Toronto’s Scotiabank Arena, and has invested in and operates five Toronto sports facilities, including Coca-Cola Coliseum, BMO Field, BMO Training Grounds at Downsview Park, the Raptors practice facility OVO Athletic Centre, and the Ford Performance Centre for Hockey Excellence, the practice facility for the Maple Leafs and Marlies.
Beyond MLSE, Rogers’s sports portfolio includes ownership of the Toronto Blue Jays, Rogers Centre and Sportsnet. The company also has strategic partnerships with the Vancouver Canucks, Edmonton Oilers, Calgary Flames, the NHL, the NBA, MLB and Live Nation.
Image borrowed from Rogers’s website
