Rogers Officially Becomes Majority Owner Of Maple Leaf Sports & Entertainment
Rogers Communications closed the deal on July 1 to buy BCE's 37.5 percent stake in Maple Leaf Sports & Entertainment. It became the majority owner of the company that also owns the NBA's Toronto Raptors, CFL's Toronto Argonauts and MLS' Toronto FC.
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Rogers announced in June it received all league approvals to buy the stake of BCE, the holding company of Bell Canada, and approval from Canada's Competition Bureau. At the time, it awaited approval from the Canadian Radio-television and Telecommunications Commission to acquire "an additional indirect interest in Toronto Raptors Network Ltd."
Now, Rogers received all necessary approvals to acquire the stake for $4.7 billion Cdn.
'MLSE is one of the most prestigious sports and entertainment organizations in the world and we're proud to be the majority owner of these iconic sports teams,' Tony Staffieri, president and CEO of Rogers, said in a news release on July 2. 'Live sports are a core part of our business and core to the fans who live and breathe every moment.'
Edward Rogers, the executive chair of Rogers Communications, told The Hockey News publisher-owner W. Graeme Roustan in January that becoming the majority owner speaks to Rogers' commitment to the Maple Leafs.
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"Our track record is a track record of good ownership in everything we do," Rogers said in the interview for the 2025 Money & Power Issue. "We up our investments. You look at MLSE, we've won a few championships, and the vast majority of profits that MLSE makes go back into the business, back into player salaries."
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Rogers Communications is also the sole owner of MLB's Toronto Blue Jays.
"With the Toronto Blue Jays, we're consistently within the top 10 in terms of payroll in the league," Rogers said. "We recently invested upwards of half a billion dollars in the Rogers Centre stadium to increase the fan experience. So, we're very much investors. Ultimately, we want winning teams, and we need to invest to do that, and we know that."
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The executive chairman also said winning teams increase viewership and value, so they're aligned with fans on the desire for squads that capture championships.
In April, the NHL and Rogers announced a new 12-year Canadian TV deal that begins after their current 12-year deal ends after the 2025-26 campaign.
The Graeme Roustan Show: Edward Rogers And Tony Staffieri
The Graeme Roustan Show: Edward Rogers And Tony Staffieri Edward Rogers, the executive chairman of Rogers Communications, and Tony Staffieri, the president-CEO of Rogers Communications, discuss their backgrounds in hockey, why the Rogers company wanted to invest in the Maple Leafs and when a Stanley Cup is coming to Toronto.
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The Maple Leafs finished first in their division for the second time in five seasons and third time in 25 seasons, with 108 points. They advanced past the first round of the playoffs for the second time in 21 years but lost in the second round to the Florida Panthers, which went on to win their second straight Stanley Cup championship. The Marlies, meanwhile, made a first-round appearance in the AHL playoffs.
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