Rogers Communications has purchased Bell Canada Enterprises’ (BCE Inc.) 37.5 percent stake in Maple Leaf Sports and Entertainment (MLSE) for $4.7 billion in a move that will make it the majority owner of the company that owns the Toronto Raptors, Toronto Maple Leafs, Toronto FC, Toronto Marlies, and Toronto Argonauts.
Bell and Rogers jointly purchased a 75 percent stake in 2012, which Rogers will assume full control over once the deal is approved. Through the sale, BCE Inc. hopes to reduce its debt loads while it undergoes a transition from telecommunications to technology.
Pending approval, the deal is expected to close mid-2025. Bell will have access to content rights for half of the Maple Leafs’ regional games and half of Toronto Raptors’ games, which MLSE controls the rights to. A long-term agreement has been reached for some Leafs and Raptors games to be broadcast on TSN over the next 20 years.
The other 25 percent stake is owned by MLSE chair Larry Tanenbaum, who owns 20 percent, and Ontario Municipal Employees Retirement System (OMERS), who acquired a five percent stake from Tanenbaum in 2023.
