Rogers to buy remaining stake in MLSE for $4.35 billion

Photo: Rogers

Rogers Communications has signed an agreement to purchase the remaining 25 percent ownership stake in Maple Leaf Sports & Entertainment (MLSE) from Kilmer Sports for $4.35 billion CAD. The deal was announced on Monday morning.

“This is a defining moment for Rogers. Our full ownership of MLSE brings together Canada’s premier communications company with Canada’s premier sports and entertainment organization,” said Rogers president and CEO Tony Staffieri in a statement.

“It gives us even more opportunity to invest in championship-calibre teams, create unique experiences for customers and fans, and unlock long-term value for shareholders.”

In September 2024, Rogers struck a deal with Bell Canada to purchase its 37.5 percent stake in MLSE. The two companies had previously each owned 37.5 percent of the sports conglomerate with the remaining 25 percent belonging to Kilmer Sports. The deal was officially ratified in 2025.

“Sports is a great unifier, it rallies us and brings us together in a truly unique way,” said Rogers executive chair Edward Rogers. “Winning is everything for fans and we’re committed to investing to bring championships to Canada as a proud owner and long-term steward of these beloved teams.”

Kilmer Sports is primarily owned by chairman Larry Tannenbaum. He and Bell purchased the Argonauts in 2015 before the team was added to MLSE’s portfolio three years later.

MLSE owns the Argonauts, NHL’s Toronto Maple Leafs, NBA’s Toronto Raptors, MLS’s Toronto FC, AHL’s Toronto Marlies, and Scotiabank Arena.

Rogers separately owns the Blue Jays, Rogers Centre, and Sportsnet, which exclusively televises Blue Jays games. The CFL’s exclusive broadcasting rights belong to TSN, which is owned by Bell. The league and network recently signed a six-year media rights extension.

“We want to recognize Larry Tanenbaum for his contributions to MLSE and to sports in Toronto,” said Rogers. “For decades, Larry has helped shape MLSE and we thank him for his partnership and his lasting impact.”

According to a press release, Rogers intends to sell a minority stake in their consolidated sports, media, and entertainment assets over the next year.

This transaction, which is subject to league approvals, is expected to close later this year.

The Toronto Argonauts (2-2) will visit the Winnipeg Blue Bombers (2-2) at Princess Auto Stadium on Friday, July 10 with kickoff scheduled for 8:30 p.m. EDT. The Argonauts are coming off a 58-36 loss to the Calgary Stampeders, while the Blue Bombers overcame an injury to Zach Collaros to narrowly beat the Hamilton Tiger-Cats.

The weather forecast in Winnipeg calls for a high of 29 degrees and sun. The game will be broadcast on TSN and RDS in Canada and CFL+ internationally. Radio listeners can tune in on TSN 1050 in Toronto and 680 CJOB in Winnipeg.