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Rogers Communications is making a serious claim as the most powerful team ownership entity in all of sports.
The Toronto-based media and telecommunications giant, already the owner of MLB’s Blue Jays, has reached an agreement to up its stake in Maple Leaf Sports & Entertainment from 37.5% to a controlling stake of 75%. The $3.46 billion agreement involves Rogers buying a 37.5% stake owned by Bell, another Canadian telecom power, and it values the entire MLSE portfolio at about $9.2 billion.
More than a simple equity transaction, though, the deal sees Rogers tighten its grip across Canadian pro sports. Once the deal closes, expected to be in mid-2025, the company will have the following assets under its control:
- MLB’s Blue Jays
- NHL’s Maple Leafs
- NBA’s Raptors
- Toronto FC of MLS
- Toronto Argonauts of the Canadian Football League
- SportsNet, a major Canadian sports network
- Toronto’s Rogers Centre and Scotiabank Arena
- Naming rights to sports venues in Edmonton, Toronto, and Vancouver
- National NHL media rights in Canada
- Local media rights to the NHL’s Canucks, Flames, and Oilers
- Partial local media rights to the Maple Leafs and Raptors
- Several minor-league franchises and esports teams
“MLSE continues to appreciate significantly, and together with our sports and media assets, we plan to surface more value for our shareholders long-term,” said Tony Staffieri, Rogers president and CEO. “This agreement also ensures long-term Canadian ownership and investment of these iconic teams.”
Larry Tanenbaum, MLSE chair and recently reelected as the chair of the NBA Board of Governors, remains a minority owner of the company, and he also owns the WNBA expansion franchise in Toronto. As part of the deal, Bell will also retain partial access “at fair market value” to Maple Leafs and Raptors games for its sports broadcaster TSN.
Other Groups
There are several other notable multi-team owners across the industry, including Stan Kroenke, owner of the NFL’s Rams, NBA’s Nuggets, NHL’s Avalanche, and the Rapids of MLS, among other assets. Fenway Sports Group has MLB’s Red Sox, the NHL’s Penguins, and Liverpool FC of the Premier League in its portfolio. City Football Group Ltd. is a major operator in soccer around the world, led by its flagship team, Manchester City, four-time defending champions of the Premier League.
But none of those entities have as singular a presence as Rogers now holds in Canada.
“Live sports and entertainment are a critical part of our core business strategy,” Staffieri said.
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