TORONTO – The Ontario Teachers’ Pension Plan is holding on to its majority stake in Maple Leaf Sports and Entertainment, putting to rest rumours of a merger between the sports empire and the country’s broadcasters or telcos.
“Following various unsolicited expressions of interest in MLSE, Teachers' and its advisors began a process in March of this year to review its ownership stake in the company”, reads a statement issued Friday by the OTPP. “Teachers' has concluded this eight-month process with the decision to maintain its stake in MLSE, which has been and continues to be a very successful investment.”
With the acquisition of TD Capital Group's 13.46% minority stake in September, OTPP now owns 79.53% of MLSE.
The sports and media giant reportedly owns more than a billion dollars worth of assets ranging from Air Canada Centre to the Toronto Maple Leafs, Toronto Raptors and sports channels Leafs TV, NBA TV Canada and Gol TV.
