Rogers Communications Increases Stake in MLSE: Little Change for Toronto Raptors

The ownership structure of the Toronto Raptors and the NHL organization Maple Leafs is currently undergoing significant restructuring, with no major impact on the franchise expected. The Raptors and the Maple Leafs are part of Maple Leaf Sports and Entertainment (MLSE). Rogers Communications and Bell each previously held a 37.5% stake in MLSE. Now, Rogers Communications has agreed to acquire Bell's stake, as reported by Scott Soshnick and Kurt Badenhausen of Sportico, and confirmed by Rogers in a press release. Rogers acquired Bell's stake for 4.7 billion Canadian dollars, approximately 3.46 billion US dollars. Based on this valuation, the total value of MLSE is around 9.3 billion dollars, with Rogers now owning 75% of it. "MLSE is one of the most prestigious sports and entertainment organizations in the world, and we are proud to expand our ownership of these coveted sports teams," said Tony Staffieri, President and CEO of Rogers, in the announcement of the agreement. "As Canada's leading communications and entertainment company, live sports and entertainment are a central part of our corporate strategy." For Raptors fans wondering what this change means for the franchise, there will likely be minimal changes. Rogers made corresponding statements in its press release. "For fans, winning is everything, and that’s why we are committed to continuing to invest to bring more championships to Canada," said Edward Rogers, Executive Chair of Rogers. "We are passionate sports fans and we are passionate about winning." Rogers is a significant investor in Canadian sports. In addition to the Raptors and Leafs, the company owns the Toronto Blue Jays, the Rogers Centre where the Blue Jays play, the MLS team Toronto FC, the Toronto Argonauts (Canadian Football League), the leading sports network Sportsnet, as well as strategic partnerships with the Vancouver Canucks, the Edmonton Oilers, the Calgary Flames, and the NHL overall.