Rogers Communications Inc. has finalized the acquisition of the remaining 25 percent ownership in Maple Leaf Sports & Entertainment from Kilmer Sports Inc., owned by Larry Tanenbaum. The $4.35 billion transaction now gives Rogers full ownership of the sports conglomerate, which includes popular teams like the Maple Leafs, Raptors, Toronto FC, and Argonauts.
In light of this deal, Rogers plans to establish a new division called Rogers Sports, incorporating MLSE properties along with its existing assets such as the Toronto Blue Jays and various media and entertainment ventures. The company’s extensive portfolio encompasses key entities like Rogers Centre, Sportsnet, over 30 television networks, and more than 40 radio stations.
In organizational news, Keith Pelley will continue in his role as president and CEO of MLSE, assuming added responsibilities for Rogers Sports immediately. Furthermore, Mark Shapiro will maintain his position as president and CEO of the Toronto Blue Jays.
Rogers has expressed intentions to capitalize on its combined sports and media assets, estimating a total value exceeding $25 billion. The company aims to divest minority stakes in the portfolio to external investors by the first half of 2027, utilizing the proceeds to reduce debt.