Telecommunications company Rogers Communications has reached an agreement to acquire a 37.5 per cent stake in Maple Leaf Sports and Entertainment (MLSE), which owns the NHL’s Toronto Maple Leafs, the NBA’s Toronto Raptors and the MLS’s Toronto Football Club, from Bell Canada Enterprises, Sportico reports.
The transaction will be worth $3.48 billion and the purchase is expected to officially close in the middle of next year. Rogers has increased its stake in MLSE to 75%, with a total company value of $9.3 billion. Larry Tanenbaum owns the remaining shares of MLSE. The telecommunications company also owns the Toronto Blue Jays baseball club.
The Toronto Maple Leafs lost to the Boston Bruins in the first round of the Stanley Cup Playoffs last season (3-4). The Canadian team has won the Stanley Cup 13 times. The Toronto Raptors won their only NBA title so far in 2019.
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Source : MatchTV
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