Canadian telecommunications giant Rogers Communications is set to take a controlling stake in the Toronto Maple Leafs’ parent company.
It’s hard to fully see how the marriage of Canada’s most valuable sports entity to Canada’s most dominant telecommunications conglomerate will be a massive benefit to the Maple Leafs — or its fans.
At least those fans will know who to blame if the Leafs fail to advance past the first round again this season – or who to thank if they make it through.
Rogers announced on Wednesday it had agreed to purchase Bell Canada’s 37.5-percent stake in Maple Leaf Sports & Entertainment (MLSE) for $4.7 billion, giving Rogers a majority stake in Canada’s most valuable sports conglomerate. In the process, the target on Rogers’ back became that much larger.
#BREAKING: Rogers Communications to buy out Bell's share of MLSE for $4.7 billionhttps://t.co/soOSn5hXqh pic.twitter.com/zc6elxZgYy
— CP24 (@CP24) September 18, 2024
Rogers, which already had a 37.5-percent stake in the company, would increase their ownership of the parent company that owns the NHL’s Maple Leafs, Toronto Raptors, Toronto FC and Scotiabank Arena to a majority stake of 75 percent.
MLSE chairman Larry Tanenbaum still controls a 20-percent stake, but Rogers and Bell had the right to purchase his stake in 2026, according to sportico.com. If Rogers does so, that would deliver the company 100 percent ownership.
Rogers is already the sole owner of the Toronto Blue Jays, flagging this latest move as a cornering of the Toronto sports market.
Rogers, however, isn’t the only multi-team owner across the North American sports landscape. Fenway Sports Group controls the Pittsburgh Penguins, Liverpool FC of the Premier League and MLB’s Boston Red Sox in its portfolio. American billionaire Stan Kroenke owns the Colorado Avalanche, the NFL’s Los Angeles Rams, the NBA’s Denver Nuggets and the Colorado Rapids of MLS.
But none have as dominant a presence as Rogers and its executive chairman, Edward Rogers, now hold in Toronto. The telecom company could become the largest sports holding company in the world, per Michael Grange of Sportsnet.
Rogers Communications has agreed to buy Bell’s 37.5% interest in Maple Leaf Sports & Entertainment for $4.7B, giving Rogers a majority stake in Canada’s most valuable sports empire and advancing Rogers executive chairman Edward Rogers’ standing as one of Canada’s most powerful…
— Rick Westhead (@rwesthead) September 18, 2024
The acquisition is one in a long line of recent actions undertaken by Rogers to grow its sports empire in Canada and Toronto specifically. Last year, Rogers finalized a $26-billion takeover of Shaw Communications Inc. With this latest addition to its portfolio, it’s not hard to wonder whether this could see ticket prices increase to offset the cost of this sale and other acquisitions. There’s no word yet on whether that will happen or not.
Prior to the deal, there seemed to be more semblance of accountability and competition in this sphere, both in terms of team ownership and broadcasting rights. But now there will be one majority stake calling the shots. Some consider that as a way to streamline operations, while some could consider it as having less accountability.
That being said, despite Bell’s divestment from MLSE, it still holds the option to broadcast up to 50 percent of Maple Leafs and Raptors games for 20 years. The other half belongs to Rogers.
Rogers is already the sole national rightsholder of NHL games in Canada through the 2025-26 season. Regionally, Rogers holds the rights to Vancouver Canucks, Edmonton Oilers and Calgary Flames games and shared rights with Bell to Maple Leafs games. Rogers also holds the arena naming rights to the Canucks and Oilers’ venues.
Rogers has said it intends to secure the NHL’s national broadcast rights again when the $5.2-billion, 12-year agreement it struck with the league expires in two seasons, according to the Canadian Press.
In the 10 years since that deal was signed, the Leafs have won just one playoff round.
“Winning is everything for fans, and that’s why we’re committed to investing to bring more championships to Canada,” Edward Rogers said in a press release. “We’re passionate about sports, and we’re passionate about winning.”
How passionate?
You only need to look at the Blue Jays to determine whether passion translates to championships. Rogers has owned the Blue Jays since 2000 and the team’s stadium, Rogers Centre, since 2004. During that 24-year span, the team has missed the playoffs 19 times, reached the ALCS twice and is undergoing what looks like a third rebuild.
With the three stakes in MLSE before this latest acquisition, it saw championships from the Toronto Marlies, Raptors, Toronto FC and Toronto Argonauts.
Rogers will soon own everything…
They haven't done the best of jobs with the Toronto Blue Jays, and now imagine what they will do with majority ownership involving the Raptors and Maple Leafs…
There might be some big-time changes & the top soon. #MLSE pic.twitter.com/PsHPNrLdaE
— Jacob Pacheco (@JacobPacheco6) September 18, 2024
Until the Maple Leafs actually do something in the playoffs this year, it’s safe to assume Rogers will be an easy punching bag for fans and their frustrations. But if the Leafs reach the next step and win it all, Rogers will now get the majority of the credit. Stay tuned to see how it all unfolds in the years to come.
Get the latest news and trending stories right to your inbox by subscribing to The Hockey News newsletter here. And share your thoughts by commenting below the article on THN.com or by visiting our forum.
News Summary:
- Opinion: Rogers’ Majority Stake In MLSE Isn't Guaranteed To Do Favors For The Toronto Maple Leafs — Or Its Fans
- Check all news and articles from the latest NHL updates.