Rogers Communications Inc. has finalized its acquisition of BCE`s 37.5 per cent ownership stake in Maple Leaf Sports & Entertainment, the company announced Wednesday.
This transaction brings Rogers` total ownership to 75 per cent, establishing it as the majority owner of MLSE.
Tony Staffieri, President and CEO of Rogers, commented in a statement: “MLSE is one of the most prestigious sports and entertainment organizations in the world and we’re proud to be the majority owner of these iconic sports teams. Live sports are a core part of our business and core to the fans who live and breathe every moment.”
Rogers has significantly invested in Canadian sports, committing over $15 billion in the past decade.
Edward Rogers, Executive Chair at Rogers, added: “We’re passionate about winning and we’re committed to bringing more championships to fans in Canada.”
MLSE`s portfolio includes major sports franchises such as the Toronto Maple Leafs, Raptors, Argonauts, and Toronto FC, among other properties.
This recent purchase expands Rogers` existing sports media and ownership assets, which include the Toronto Blue Jays baseball team, Rogers Centre stadium, and the Sportsnet media brand.
Rogers also recently concluded a 12-year extension agreement for the Canadian broadcasting rights to the NHL.
The completion of the deal was effective as of Tuesday, following the receipt of all necessary regulatory and league approvals.
