Latest news with #EdwardRogers
Yahoo
a day ago
- Business
- Yahoo
Rogers Officially Becomes Majority Owner Of Maple Leaf Sports & Entertainment
The parent company of the Toronto Maple Leafs and Marlies has a new majority owner. 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. Advertisement 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. Advertisement "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." Image 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." Advertisement 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. Advertisement 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. Get the latest news and trending stories by following The Hockey News on Google News and by subscribing to The Hockey News newsletter here. And share your thoughts by commenting below the article on
Yahoo
2 days ago
- Business
- Yahoo
Rogers Becomes Majority Owner of Maple Leaf Sports & Entertainment
Closes transaction to acquire BCE's 37.5% ownership stake in MLSEStrengthens commitment to Canadian sports Will invest to bring championships to Canada TORONTO, July 02, 2025 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) today announced it has closed its transaction to acquire BCE's 37.5% ownership stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion. Rogers is now the largest owner with a 75% interest in MLSE. '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,' said Tony Staffieri, President and CEO, Rogers. 'Live sports are a core part of our business and core to the fans who live and breathe every moment.' Rogers has invested over $15 billion in Canadian sports over the past decade and will continue to invest to bring championships to Canada. 'We're passionate about winning and we're committed to bringing more championships to fans in Canada,' said Edward Rogers, Executive Chair, Rogers. The acquisition expands Rogers leadership in Canadian sports, adding to its portfolio that includes the Toronto Blue Jays, Rogers Centre and Sportsnet – the number one sports network in Canada. Rogers also has long-term strategic partnerships with the NHL including a new 12-year agreement for the national media rights through 2037-2038, and with the Vancouver Canucks, Edmonton Oilers and Calgary Flames.The transaction closed effective July 1 after receiving all necessary regulatory and league approvals. The purchase price was primarily funded from revolving bank credit facilities together with cash on hand. 'MLSE is a valuable and appreciating asset and this investment positions us to unlock more value for Rogers shareholders,' added Staffieri. 'We're building something that lasts – on the ice, on the court, on the field, and across the country.' About Rogers Communications is Canada's leading communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit or For further information:Media Relationsmedia@ Investor in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
2 days ago
- Business
- Associated Press
Rogers Becomes Majority Owner of Maple Leaf Sports & Entertainment
Closes transaction to acquire BCE's 37.5% ownership stake in MLSE Strengthens commitment to Canadian sports Will invest to bring championships to Canada TORONTO, July 02, 2025 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) today announced it has closed its transaction to acquire BCE's 37.5% ownership stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion. Rogers is now the largest owner with a 75% interest in MLSE. '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,' said Tony Staffieri, President and CEO, Rogers. 'Live sports are a core part of our business and core to the fans who live and breathe every moment.' Rogers has invested over $15 billion in Canadian sports over the past decade and will continue to invest to bring championships to Canada. 'We're passionate about winning and we're committed to bringing more championships to fans in Canada,' said Edward Rogers, Executive Chair, Rogers. The acquisition expands Rogers leadership in Canadian sports, adding to its portfolio that includes the Toronto Blue Jays, Rogers Centre and Sportsnet – the number one sports network in Canada. Rogers also has long-term strategic partnerships with the NHL including a new 12-year agreement for the national media rights through 2037-2038, and with the Vancouver Canucks, Edmonton Oilers and Calgary Flames. The transaction closed effective July 1 after receiving all necessary regulatory and league approvals. The purchase price was primarily funded from revolving bank credit facilities together with cash on hand. 'MLSE is a valuable and appreciating asset and this investment positions us to unlock more value for Rogers shareholders,' added Staffieri. 'We're building something that lasts – on the ice, on the court, on the field, and across the country.' About Rogers Communications Inc. Rogers is Canada's leading communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit or For further information: Media Relations [email protected] 1-844-226-1338 Investor Relations [email protected] 1-844-801-4792
National Post
7 days ago
- Business
- National Post
Masai Ujiri's departure marks end of a thrilling era for Toronto Raptors
Everyone knew a day would come when Masai Ujiri would no longer be the face of the Toronto Raptors. Article content But after a dozen years of the man being front and centre — and actually delivering on his oft-stated pledge that 'we will win in Toronto,' — it feels weird that Ujiri's time with the Raptors has come to an end. Article content Article content The news Friday morning was not completely out of left field, of course. Article content Toronto just missed the playoffs for the third season in a row and for the fourth time in five years, and Ujiri had expressed some frustrations about the wheels falling off in recent campaigns. Article content Plus, his biggest booster at Maple Leaf Sports and Entertainment, Larry Tanenbaum, will be forced to sell off his ownership stake by next summer, per when Rogers, Bell and Tanenbaum became co-owners back in the day. Article content Article content Edward Rogers and his company will get full control of the conglomerate at that time (Bell's decision to sell already has been approved and continues to progress) and, though reports of Rogers and Ujiri having a frosty personal relationship have been overstated, per multiple sources, the business side of the relationship was a different matter. Article content Ujiri got a massive financial haul in his last deal (which also made him vice chairman of the Raptors), but he also was closer to the glory years when it was signed. Based on the recent Raptors record, Rogers was unwilling to meet Ujiri's still notable price and he wasn't sure about the fit in the new world order of sports in Toronto, minus Tanenbaum, who has said Ujiri is 'like a son' to him. Article content Article content So, here we are. Article content Article content Though Ujiri had also been upbeat for many months now as a long-awaited rebuild and culture shift started to bear some fruit (he even popped in to talk to local media on draft night Wednesday for a few minutes, acting as if nothing was amiss), the franchise will now be steered by Ujiri's chief lieutenants Bobby Webster — who was hired away from the NBA front office — and Dan Tolzman, who Ujiri brought to Toronto from Denver. Article content Maybe his future is in politics or as a CEO of a large company. A major European soccer club once unsuccessfully tried to poach him.
Toronto Sun
05-06-2025
- Business
- Toronto Sun
Rogers gets all necessary league approvals to buy Bell's MLSE stake
Published Jun 04, 2025 • 1 minute read Rogers Communications Inc. executive chair Edward Rogers stands on the field during batting practice ahead of a Toronto Blue Jays home opener against the Seattle Mariners in American League MLB baseball action in Toronto on April 8, 2024. Photo by Chris Young / The Canadian Press Rogers Communications has received all necessary league approvals to buy out rival Bell's 37.5 per cent stake in Maple Leaf Sports & Entertainment, the telecommunications company said Wednesday. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Rogers announced Sept. 18 that it was buying Bell's stake in Toronto-based MLSE, which includes the NHL's Maple Leafs, NBA's Raptors, CFL's Argonauts, Major League Soccer's Toronto FC and the American Hockey League's Marlies, for $4.7 billion. Rogers said Wednesday those five leagues have signed off on the deal that would see it increase its ownership stake in the company to 75 per cent. The deal also includes the transfer of NBA TV (Canada) from Bell to Rogers, and that aspect is subject to approval from the Canadian Radio-television and Telecommunications Commission. Rogers' sports portfolio also includes Major League Baseball's Toronto Blue Jays and their Rogers Centre home. MLSE chairman Larry Tanenbaum, via his holding company Kilmer Sports Inc., owns the company's other 25 per cent stake. OMERS, a Canadian pension fund, purchased a five per cent indirect stake in MLSE in the summer of 2023 through a 20 per cent direct stake in Kilmer Sports for US$400 million. Celebrity Columnists Canada Canada Toronto & GTA
