Parent company of Bell Canada says it will use the proceeds to pay down debt and expand its telecom network
Maple Leaf Sports and Entertainment headquarters in Toronto on Sept. 18. Rogers is purchasing Bell Canada parent BCE ’s 37.5-per-cent stake in MLSE .’s 37.5-per-cent stake in MLSE , owner of the NHL’s Maple Leafs, NBA’s Raptors, CFL’s Argonauts and MLS’s Toronto FC, after sharing ownership of the company for the past 12 years. Bell decided to sell the holding to pay down debt and invest in its telecom business. The transaction values MLSE at $12.
Rogers already owns MLB’s Toronto Blue Jays and the Sportsnet television network. The Toronto-based telecom company will own 75 per cent of MLSE if regulators and sports leagues sign off on the purchase from Bell, which is expected to close by the middle of next year.Rogers has the right to buy the remaining 25 per cent of MLSE from chairman Larry Tanenbaum in 2026. On Wednesday, Mr. Staffieri and Mr. Tanenbaum declined to comment on MLSE’s future ownership.
“Winning is everything for fans, and that’s why we’re committed to investing to bring more championships to Canada,” Mr. Rogers said in a press release on Wednesday. “We’re passionate about sports and we’re passionate about winning.” “When you combine MLSE with the Jays, just having those assets in the same portfolio, I think it’s the crown jewel of sports. I don’t think there’s any other property that’s as attractive,” Mr. Leiweke said.The shared challenge for players and management is “how can we get to our ultimate goal of winning the Stanley Cup?” Mr. Shanahan said. “As far as the ownership announcement today, their focus and their goal are shared by me, and they’re very supportive.
In April, Rogers sold exclusive rights to broadcast Monday night NHL games to Amazon’s Prime Video service over the next two seasons, starting in October, 2024.Rogers and Bell need two regulators – the Competition Bureau of Canada and the Canadian Radio-television and Telecommunications Commission – to sign off on the transaction. The Competition Bureau attempted to block Rogers’s purchase of Shaw, but was overruled by the Competition Tribunal.
Mlse Bell Sports Cent Toronto Rogers Bce Argos Tim Leiweke Brendan Shanahan
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