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2d ago

Rogers Agrees to Buy Remaining 25% of MLSE for C$4.35 Billion

The purchase would give Rogers sole control of Toronto’s major teams and let the company bundle teams, venues and broadcast rights before selling minority stakes once leagues sign off.

MLSE head office in downtown toronto
Rogers Communications President and CEO Tony Staffieri stands next to the Stanley Cup following a press conference in Toronto on Wednesday, April 2, 2025. THE CANADIAN PRESS/Sammy Kogan
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Overview

  • Rogers signed an agreement Monday to buy Kilmer Sports’ remaining 25 percent of Maple Leaf Sports & Entertainment for C$4.35 billion, which raises its ownership to 100 percent in principle.
  • The price implies an MLSE valuation near C$17.4 billion and Rogers says it will fund the purchase with committed liquidity while preparing to market minority stakes in the combined sports and media business over the next year.
  • The transaction must receive approvals from the NHL, NBA, MLS and CFL and Rogers expects the deal to close in the fourth quarter of 2026.
  • Kilmer’s principal, Larry Tanenbaum, has signaled he will step back from MLSE and related league roles as the sale completes, ending the long-running shared-governance arrangement at the company.
  • Observers warn full consolidation strengthens Rogers’ negotiating power with advertisers and distributors and could reduce free-to-air access to games, a shift that may raise costs or change viewing options for Canadian fans.