Rogers Communications Inc. has successfully acquired the remaining 25% ownership stake in Maple Leaf Sports & Entertainment from Kilmer Sports Inc., owned by Larry Tanenbaum. This $4.35-billion transaction now gives the telecommunications giant full ownership of the sports conglomerate, which includes the Maple Leafs, Raptors, Toronto FC, and Argonauts.
To consolidate its sports properties, Rogers plans to establish a new entity called Rogers Sports, integrating MLSE assets with its existing holdings like the Toronto Blue Jays and various media and entertainment ventures. The company’s extensive portfolio also encompasses the Rogers Centre, Sportsnet, over 30 television networks, and more than 40 radio stations.
In organizational changes, Keith Pelley will continue as the president and CEO of MLSE while assuming additional responsibilities for Rogers Sports. Mark Shapiro will retain his role as president and CEO of the Blue Jays.
In line with its strategy to leverage its sports and media assets, Rogers aims to capitalize on the combined value of over $25 billion by selling minority interests in the portfolio to external investors by the first half of 2027. The proceeds from these transactions will be utilized to reduce the company’s debt.