Rogers Communications Inc. has successfully acquired the remaining 25 percent stake in Maple Leaf Sports & Entertainment from Kilmer Sports Inc., owned by Larry Tanenbaum. The deal, valued at $4.35 billion, now gives Rogers full ownership of the sports conglomerate, which comprises teams like the Maple Leafs, Raptors, Toronto FC, and Argonauts.
As part of the acquisition, Rogers plans to establish a new business division called Rogers Sports, integrating MLSE properties with its existing assets like the Toronto Blue Jays and various media and entertainment ventures. The company’s extensive portfolio also includes assets such as Rogers Centre, Sportsnet, over 30 television networks, and more than 40 radio stations.
Keith Pelley will continue serving as the president and CEO of MLSE while taking on additional responsibilities for Rogers Sports, effective immediately. Mark Shapiro will retain his positions as president and CEO of the Blue Jays.
Rogers has outlined a strategy to capitalize on its combined sports and media holdings, estimating a total value exceeding $25 billion. The company intends to divest minority stakes in the portfolio to external investors by the first half of 2027, utilizing the proceeds to reduce its debt.
