Canadian telecoms and media giant Rogers has taken 100% control of multi-sport ownership and commercial real estate group Maple Leaf Sports and Entertainment (MLSE), acquiring the remaining 25% in the enterprise that it did not already own.
Rogers has spent C$4.35 billion ($3.06 billion) to buy out the 25% stake held by Kilmer Sports Group, the investment vehicle of Canadian businessman Larry Tanenbaum, after activating a contractual option allowing it to acquire that stake, after buying out rival telecoms firm BCE’s 37.5% stake in 2025.
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Now holding 100% of MLSE, Rogers says that sole ownership will grant the firm greater scope to invest in professional sports upon the closure of the agreement in the fourth quarter of 2026.
Speaking on the announcement, Rogers president and chief executive Tony Staffieri said: “It gives us even more opportunity to invest in championship-calibre teams, create unique experiences for customers and fans, and unlock long-term value for shareholders.
“Sports and entertainment are a core part of our business, and we plan to bring our world-class sports and entertainment assets together and surface more value for our shareholders long-term.
“The strategic value of our sports business is even greater when you combine it with our core connectivity business – it gives us a unique value proposition to compete in a very crowded marketplace.”
In terms of top-tier sports franchises, MLSE owns ice hockey's Toronto Maple Leafs NHL franchise, NBA basketball's Toronto Raptors, Major League Soccer side Toronto FC, and the Toronto Argonauts of the Canadian Football League.
The investment body also owns a number of smaller franchises, many of which are affiliated with their major league teams, such as the Toronto 905 NBA G League side, Toronto FC II of MLS Next Pro, and the American Hockey League’s Toronto Marlies.
With Rogers already the owner of a Major League Baseball franchise, the Toronto Blue Jays, this agreement ensures that Rogers maintains a dominant position in the country’s sports landscape.
With that in mind, Rogers has already committed to selling a minority stake in its overall sports holdings over the next year.
Rogers has now effectively boxed out its closest broadcast competitor (BCE owner Bell Communications owns sports network TSN) from control of the country's biggest sports teams.
On top of its sports team holdings, MLSE also controls Toronto’s Scotiabank Arena (home of the Maple Leafs and Raptors) and the Raptors’ OVO Athletic Center training facility, which Rogers adds to the Rogers Center (home of the Blue Jays) to its sports venue portfolio.
Rogers also enjoys commercial partnerships and broadcast agreements with the Vancouver Canucks, Edmonton Oilers, and Calgary Flames NHL teams, as well as the NHL itself, the NBA, and MLB, via its major commercial network Sportsnet.
Rogers executive chair Edward Rogers added: “Winning is everything for fans and we’re committed to investing to bring championships to Canada as a proud owner and long-term steward of these beloved teams.”
