Rogers to become 100 percent owner of Maple Leafs Sports & Entertainment
Rogers Communications announced Monday morning that it has agreed to terms on a deal that will see it take control of 100 percent of the ownership of Maple Leafs Sports & Entertaiment (MLSE), the parent company of the NHL’s Toronto Maple Leafs.
Rogers has owned 75 percent of MLSE since July 2025, when it closed a deal to buy out Bell Canada’s 37.5 percent ownership stake in the company. As part of that deal, Rogers retained the option to purchase the remaining 25 percent stake in MLSE from Kilmer Sports Inc., a holding company controlled by Larry Tanenbaum.
In a press release issued on Monday, Rogers confirmed that it has signed an agreement to buy out Tanenbaum’s interest in MLSE for $4.35 billion CAD, a transaction that places the company’s overall valuation at $17.4 billion — a substantial increase from last year, when Rogers paid $4.7 billion for Bell’s 37.5 percent stake. In addition to the Maple Leafs, MLSE controls the NBA’s Toronto Raptors, the CFL’s Toronto Argonauts, and MLS club Toronto FC, among other subsidiaries; it also owns Scotiabank Arena, where the Maple Leafs and Raptors play.
“This is a defining moment for Rogers. Our full ownership of MLSE brings together Canada’s premier communications company with Canada’s premier sports and entertainment organization,” Rogers president and CEO Tony Staffieri said in Monday’s press release. “It gives us even more opportunity to invest in championship-caliber teams, create unique experiences for customers and fans, and unlock long-term value for shareholders.”
Rogers bought its first ownership stake in MLSE in 2012, taking control of 37.5 percent of the company through a deal with its previous owners, the Ontario Teachers’ Pension Plan. As part of that deal, Rogers and Bell controlled 75 percent of MLSE through a joint venture, with Tanenbaum — who first bought into MLSE in 1996 — owning the remaining 25 percent.
This new deal between Rogers and Tanenbaum is expected to close in the fourth quarter of 2026, at which time Rogers will become the 100 percent owner of Toronto’s entire major professional sports landscape. The telecom has owned the MLB’s Toronto Blue Jays, who play in the Rogers Centre, since 2000.
In Monday’s release, Rogers confirmed that it “intends to finance this transaction with its committed liquidity,” while also committing its intention “to sell a minority stake in the consolidated Rogers sports, media and entertainment assets over the course of the next year.”
The deal is subject to league approvals, including from the NHL.