Rogers to buy Leafs for over $1 billion?
The Toronto Star is reporting that Rogers Communications could be in the market to purchase most of the holdings of MLSE for over $1 billion dollars. The deal would include the Leafs, the Raptors (and their respective TV stations), the Toronto FC and the Marlies, but not MLSE's real estate holdings, which I assume means Maple Leafs Square and the ACC (not sure what this means for BMO field and Ricoh coliseum, as well as Gol TV which they also own).
It would be one of the biggest (if not THE biggest) deals in sports history, and considering that Rogers already owns the Blue Jays it would mean that they would dominate all of the sports teams in Toronto.
I'm sure one of the Leafs bloggers will have more on it soon just thought I would get this up for discussion.
Source: TSN
TORONTO - A published report suggests Rogers Communications is in talks to buy the Toronto Maple Leafs in a deal worth more than $1 billion.
Citing anonymous sources, the Toronto Star reports the sale would include the NBA's Toronto Raptors, Toronto FC of Major League Soccer and the Marlies, the Maple Leafs' American Hockey League minor hockey team.
The $1.3 billion deal would be the biggest transaction in Canadian sport history and transform Rogers Communications Inc., which already owns the Toronto Blue Jays, into one of the most powerful sports enterprises in North America.
Sources said the deal to buy a majority stake in Maple Leafs Sports and Entertainment from the Ontario Teachers' Pension Plan would include the Leafs and Raptors TV stations, but not MLSE's real estate holdings.
"I know it's real," a top sports industry executive, who requested anonymity, told the newspaper. "I've heard it from Rogers at a high executive level and from MLSE at (the highest) level."
Spokespersons with both Rogers and the Ontario Teachers' Pension Plan declined comment.
“It's our policy to neither confirm or deny,” said Deborah Allan, director of communications and media relations for the Ontario Teachers Pension Plan.
Richard Peddie, MLSE's chief executive officer, referred all questions to Teachers' representatives.
“It's a shareholder matter,” he said. “I have not been involved in any discussions and I have no knowledge of it.”
PLEASE let this happen
shitty network, shitty teams
A sport enterprise could attract an NFL team to Toronto
Pat's right about that. All Rogers has to do is say "hey look how many financially successful franchises we have. But ugh, don't look at their records and standings over the last few years."
Seriously though NFL in Toronto would be pretty cool. Hope it can happen.
yeah and not Buffalo's sloppy seconds