Deal gives Canada’s Rogers Communications significant stake in several Toronto teams

In a deal announced on Wednesday, Canada’s Rogers Communications Inc. owns a majority stake in Maple Leaf Sports & Entertainment, giving the communications and media company a huge stake in several Toronto sports teams.

Eric Fisher of Front Office Sports detailed the specifics.

“Canadian media giant Rogers Communications closed on Wednesday a $3.46 billion deal to acquire 37.5% of Maple Leaf Sports & Entertainment from Bell, another Canadian telecom power,” Fisher wrote. “The pact, in development since last September, brings the Rogers stake in MLSE to a controlling 75% and values the entire portfolio at $9.2 billion.”

Fisher also noted that with the sale, “Arguably the most powerful sports ownership entity in the world has now officially been formed.” It’s easy to see why.

Rogers has a stake in the Toronto Blue Jays of Major League Baseball, the Toronto Maple Leafs of the National Hockey League, the Toronto Raptors of the National Basketball Association and Major League Soccer’s Toronto FC.

And it doesn’t stop there.

“The agreement gives Rogers a dominant presence across Canadian pro sports, with its sports holdings now including MLB’s Blue Jays, the NHL’s Maple Leafs, the NBA’s Raptors, Toronto FC of MLS, the Canadian sports network Sportsnet, and Rogers Centre and Scotiabank Arena in Toronto, among numerous other assets,” Fisher detailed. “Rogers also just signed a 12-year, CDN $11 billion media rights extension with the NHL stretching to 2038.”

Rogers President and CEO Tony Staffieri discussed the deal, as well.

“MLSE is one of the most prestigious sports and entertainment organizations in the world and we’re proud to be the majority owner of these iconic sports teams,” Staffieri said, per Sportsnet. “Live sports are a core part of our business and core to the fans who live and breathe every moment.”