Rogers Communications has signed an settlement to purchase Bell’s 37.5% possession stake in Maple Leaf Sports activities & Leisure (MLSE) for C$4.7 billion.
MLSE owns the Toronto Maple Leafs, Toronto Raptors, Toronto FC, Toronto Argonauts, Toronto Marlies of the American Hockey League, the NBA G League Raptors 905, MLS Subsequent Professional crew TFC II, and the Raptors Rebellion Gaming Membership, the Toronto Raptors esports franchise within the NBA 2K League. MLSE additionally owns and operates Toronto’s Scotiabank Enviornment and has invested in and operates 5 Toronto sports activities services, together with Coca-Cola Coliseum, BMO Area, BMO Coaching Grounds at Downsview Park, OVO Athletic Centre, the apply facility for the Raptors, and Ford Efficiency Centre for Hockey Excellence, the apply facility for the Leafs and Marlies. Its charitable arm, MLSE Basis, funds initiatives to assist youth by way of sport and leisure applications.
Rogers and Bell have had a mixed possession place in MLSE since 2012. When the transaction closes, topic to league and regulatory approvals, Rogers will achieve a 75% controlling curiosity in MLSE.
Rogers says the deal will present Bell with the chance to resume its current MLSE broadcast and sponsorship rights longterm at truthful market worth, together with entry to content material rights for 50% of Toronto Maple Leafs regional video games and 50% of Toronto Raptors video games for the subsequent 20 years, for which MLSE controls the rights. Bell Media’s TSN would additionally proceed to broadcast Toronto Argonauts and Toronto FC video games by way of impartial agreements with the respective leagues. Bell would moreover stay the official telecom sponsor of the Raptors and preserve its sponsorships of the Argonauts and Toronto FC.
“MLSE is likely one of the most prestigious sports activities and leisure organizations on this planet and we’re proud to broaden our possession of those coveted sports activities groups,” stated Tony Staffieri, Rogers’ President and CEO, in an organization announcement. “As Canada’s main communications and leisure firm, stay sports activities and leisure are a vital a part of our core enterprise technique.”
“This settlement confirms TSN’s place as Canada’s Sports activities Chief with long-term entry to content material rights to a few of Canada’s most beloved sports activities groups,” stated Sean Cohan, President, Bell Media. “On the coronary heart of this deal are passionate followers, which TSN will proceed to serve throughout all of our platforms with the premium protection that audiences anticipate from Canada’s Sports activities Chief.”
The settlement provides to Rogers current sports activities portfolio, which encompasses the Toronto Blue Jays, Rogers Centre and Sportsnet, along with strategic partnerships with the Vancouver Canucks, Edmonton Oilers, Calgary Flames and the NHL.
In keeping with a Rogers launch, the corporate is financing the transaction by way of personal funding.
“MLSE continues to understand considerably, and along with our sports activities and media belongings, we plan to floor extra worth for shareholders longterm,” stated Staffieri. “This settlement additionally ensures long-term Canadian possession and funding of those iconic groups.”
The transaction is predicted to shut in mid-2025.
Subscribe Now – Free!
Broadcast Dialogue has been required studying within the Canadian broadcast media for 30 years. While you subscribe, you be a part of a neighborhood of linked professionals from media and broadcast associated sectors from throughout the nation.
The Weekly Briefing from Broadcast Dialogue is delivered completely to subscribers by e mail each Thursday. It’s your hyperlink to vital trade information, well timed folks strikes, and wonderful profession development alternatives.
Let’s get began proper now.