Both the NBA’s Toronto Raptors and NHL’s Toronto Maple Leafs have seen seismic shifts in their ownership groups. On Wednesday, a $3.5 billion sale has been announced involving the two Canadian franchises.
Rogers Communications has acquired Bell Canada Enterprises’ 37.5% share of Maple Leaf Sports and Entertainment. The deal was for $4.7 billion Canadian dollars, equivalent to $3.4 billion USD, via Scott Soshnick and Kurt Badenhausen of Sportico. MLSE functions as the Raptors and Maple Leafs’ parent company.
“MLSE is one of the most prestigious sports and entertainment organizations in the world and we’re proud to expand our ownership of these coveted teams,” Rogers CEO Tony Staffieri said. “MLSE continues to appreciate significantly, and together with our sports and media assists, we plan to surface more value for shareholders long-term.”
Rogers’ acquisition adds to the already 37.5% they owned of MLSE. The entire business is…
