Rogers Communications Inc. has finalized its acquisition of BCE`s 37.5% ownership share in Maple Leaf Sports & Entertainment, the company confirmed recently.
This transaction increases Rogers` stake in MLSE to 75%, establishing it as the majority shareholder.
In a statement, Tony Staffieri, President and CEO of Rogers, commented on the deal: “MLSE is recognized globally as a leading sports and entertainment entity, and we are pleased to take majority control of these renowned teams. Live sports are fundamental to our operations and deeply valued by dedicated fans.”
Rogers highlights its significant investment in Canadian sports, exceeding $15 billion over the last ten years.
Edward Rogers, Executive Chair at Rogers, added, “We are driven by success and dedicated to helping bring more championships to Canadian fans.”
MLSE`s portfolio includes prominent teams such as the Toronto Maple Leafs, Raptors, Argonauts, and Toronto FC, among other assets.
This acquisition further enhances Rogers` sports holdings, which already feature the Toronto Blue Jays baseball team, Rogers Centre stadium, and the Sportsnet media network.
Additionally, Rogers recently finalized a 12-year extension for the exclusive Canadian media rights to the NHL.
The deal officially closed on Tuesday, following the successful obtainment of all required regulatory and league approvals.
Tristan Blackwood