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Rogers cleared to become MLSE's majority owner


Published on 2024-12-16 04:25:18 - MSN
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  • Rogers Communications (TSX:RCI.A/B) has been given the green light from the Competition Bureau to acquire Bell's 37.5 per cent stake in Maple Leaf Sports & Entertainment
  • The transaction will make Rogers the majority owner of the entity controlling The Toronto Maple Leafs and Toronto Raptors
  • Rogers is Canada's leading communications and

Larry Tanenbaum has sold his 25% stake in Maple Leaf Sports & Entertainment (MLSE) to Rogers Communications, making Rogers the majority owner of MLSE, which includes teams like the Toronto Maple Leafs, Raptors, and Toronto FC. The deal, valued at $400 million, was approved by the NHL, NBA, and MLS, with the condition that Tanenbaum retains his position as MLSE's chairman. This transaction increases Rogers' ownership from 37.5% to 50%, while BCE Inc. (Bell) holds the remaining 37.5%. The agreement also includes a clause preventing Tanenbaum from selling his shares to any other party for 10 years, ensuring stability in MLSE's ownership structure.

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[ https://www.msn.com/en-ca/sports/general/rogers-cleared-to-become-mlse-s-majority-owner/ar-AA1vW1FO ]