Latest news with #MapleLeafSports&Entertainment
Toronto Star
23-07-2025
- Business
- Toronto Star
Rogers looks for cost savings in sports portfolio after becoming MLSE majority owner
TORONTO - Rogers Communications Inc. hopes to find 'revenue and cost synergies' in its expanded portfolio of sports assets after becoming the majority owner of Maple Leaf Sports & Entertainment. The Toronto-based telecom company believes its stock price undervalues its media and sports holdings and says it is 'pursuing all options ... to monetize and surface the very substantial unrecognized market value' of those assets.
Vancouver Sun
10-07-2025
- Business
- Vancouver Sun
Ex-head of MLSE Tim Leiweke indicted in U.S. arena bid-rigging scheme
WASHINGTON — Former chief executive officer and president of Maple Leaf Sports & Entertainment Tim Leiweke has been indicted by the U.S. Department of Justice for allegedly orchestrating a conspiracy to rig the bidding process for an arena at a public university in Austin, Texas. It was announced later Wednesday that Leiweke would step down as CEO of Oak View Group, a sports and real estate company he co-founded. He will transition to vice-chairman of OVG's board of directors and remain a shareholder of the company. 'It has been my great honour to help found and lead OVG as it has grown into the special, customer-oriented company it is today,' Leiweke said in a statement. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. The board has appointed Chris Granger, president of OVG360, to serve as interim CEO. 'I am honoured to serve in this role and am looking forward to working with our deep roster of leaders and talented team as we deliver on our mission to provide the best possible service and outcome for our customers and partners,' said Granger. Leiweke is charged with a violation of Section 1 of the Sherman Act, facing a maximum penalty of 10 years in prison and a US$1-million fine. According to the DOJ, Leiweke told colleagues a rival company was 'bidding against us' and expressed a desire to 'get them to back down' — a goal he later achieved through a 2018 agreement under which the competitor didn't submit a bid and instead received subcontracts, leaving OVG as the lone qualified bidder. None of the allegations have been proven in court. The project became the Moody Center, home to University of Texas basketball, and opened to the public in April 2022. OVG continues to receive significant revenues from the venue. OVG and Legends Hospitality have agreed to pay $15 million and $1.5 million in penalties, respectively, related to the conduct outlined in the indictment. In a statement that did not mention Leiweke, OVG said it 'co-operated fully with the Antitrust Division's inquiry' and was 'pleased to have resolved this matter with no charges filed against OVG and no admission of fault or wrongdoing.' Leiweke also said he was pleased that OVG resolved its DOJ inquiry without any charges filed or admission of wrongdoing. 'The last thing I want to do is distract from the accomplishments of the team or draw focus away from executing for our partners, so the board and I decided that now is the right time to implement the succession plan that was already underway and transition out of the CEO role,' he said in his written statement. 'In my new role as vice chairman of the board and as an OVG shareholder, I remain as committed as ever to the long-term success of the company, and I know OVG, our valued partners, and our customers are in great hands with Chris and the rest of our stellar leaders.' Leiweke was head of MLSE from 2013 to 2015 before moving on to OVG. The company operates dozens of venues across North America, including Seattle's Climate Pledge Arena, London, Ont.'s Canada Life Place and Hamilton's recently renovated TD Coliseum. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
Hamilton Spectator
09-07-2025
- Business
- Hamilton Spectator
Ex-MLSE boss Tim Leiweke indicted in U.S. arena bid-rigging scheme
WASHINGTON - Former CEO and president of Maple Leaf Sports & Entertainment Tim Leiweke has been indicted by the U.S. Department of Justice for allegedly orchestrating a conspiracy to rig the bidding process for an arena at a public university in Austin, Texas. Leiweke is charged with a violation of Section 1 of the Sherman Act, facing a maximum penalty of 10 years in prison and a US$1 million fine. Oak View Group (OVG) and Legends Hospitality have agreed to pay $15 million and $1.5 million in penalties, respectively, related to the conduct outlined in the indictment. Leiweke was head of MLSE from 2013 to 2015 before moving on to Oak View Group. The company operates dozens of venues across North America, including Seattle's Climate Pledge Arena, London, Ont.'s Canada Life Place and Hamilton's recently renovated TD Coliseum. According to the DOJ, Leiweke told colleagues a rival company was 'bidding against us' and expressed a desire to 'get them to back down' — a goal he later achieved through a 2018 agreement under which the competitor didn't submit a bid and instead received subcontracts, leaving OVG as the lone qualified bidder. The project became the Moody Center, home to University of Texas basketball, and opened to the public in April 2022. OVG continues to receive significant revenues from the venue. None of the allegations have been proven in court. This report by The Canadian Press was first published July 9, 2025.
Winnipeg Free Press
09-07-2025
- Business
- Winnipeg Free Press
Ex-MLSE boss Tim Leiweke indicted in U.S. arena bid-rigging scheme
WASHINGTON – Former CEO and president of Maple Leaf Sports & Entertainment Tim Leiweke has been indicted by the U.S. Department of Justice for allegedly orchestrating a conspiracy to rig the bidding process for an arena at a public university in Austin, Texas. Leiweke is charged with a violation of Section 1 of the Sherman Act, facing a maximum penalty of 10 years in prison and a US$1 million fine. Oak View Group (OVG) and Legends Hospitality have agreed to pay $15 million and $1.5 million in penalties, respectively, related to the conduct outlined in the indictment. Leiweke was head of MLSE from 2013 to 2015 before moving on to Oak View Group. The company operates dozens of venues across North America, including Seattle's Climate Pledge Arena, London, Ont.'s Canada Life Place and Hamilton's recently renovated TD Coliseum. According to the DOJ, Leiweke told colleagues a rival company was 'bidding against us' and expressed a desire to 'get them to back down' — a goal he later achieved through a 2018 agreement under which the competitor didn't submit a bid and instead received subcontracts, leaving OVG as the lone qualified bidder. The project became the Moody Center, home to University of Texas basketball, and opened to the public in April 2022. OVG continues to receive significant revenues from the venue. Monday Mornings The latest local business news and a lookahead to the coming week. None of the allegations have been proven in court. This report by The Canadian Press was first published July 9, 2025.
USA Today
27-06-2025
- Business
- USA Today
Raptors part ways with president Masai Ujiri a day after NBA draft
The Toronto Raptors and Vice Chairman and President Masai Ujiri have parted ways, just a day after the NBA draft. Maple Leaf Sports & Entertainment, which owns the Raptors and the Toronto Maple Leafs of the National Hockey League, let Ujiri leave with a year remaining on his contract. Ujiri, a former NBA Executive of the Year when he was with the Denver Nuggets in 2013, left that franchise to become the executive vice president and general manager of the Raptors. The 54-year-old Ujiri made the Raptors a contender with seven straight playoff appearances, including in 2018, when he fired Dwane Casey, who had just won the NBA Coach of the Year award, and replaced him with Nick Nurse. He then traded fan favorite DeMar DeRozan, Jakob Poeltl, and a first-round pick to the San Antonio Spurs for Kawhi Leonard and Danny Green. Leonard helped lead the Raptors to their first NBA championship the following season with a six-game series victory over the Golden State Warriors. Since winning that championship, the Raptors have made the postseason only twice and have missed the playoffs each of the past three years. The team finished 30-52 this season under second-year head coach Darko Rajaković, and is left without a main executive, although Maple Leaf Sports & Entertainment said that "Raptors front office leadership remains in place with extensions for key personnel, including general manager Bobby Webster," before free agency starts on June 30. In the 2025 draft, Toronto selected forward Collin Murray-Boyles with the ninth pick and guard Alijah Martin with the 39th pick in the second round.
