advertisement
Billboard is a part of Penske Media Corporation. © 2023 Billboard Media, LLC. All Rights Reserved.
advertisement
Latest News
advertisement
BILLBOARD CANADA FYI
A weekly briefing on what matters in the music industry
By signing up you agree to Billboard Canada’s privacy policy.
advertisement
advertisement
Scotiabank Arena in Toronto
Business News
Rogers Becomes the Sole Owner of MLSE after $4.3 Billion Buyout
After buying its shares from Bell last year, Rogers has acquired the remaining 25% stake owned by Kilmer Sports Inc., gaining full ownership of the Toronto Maple Leafs, Toronto Raptors, Toronto FC and the Toronto Argonauts as well as Scotiabank Arena and Coca-Cola Coliseum.
6h
Rogers officially has full ownership of MLSE.
The telecommunications company has announced that it has signed an agreement to purchase the remaining 25% ownership stake of Maple Leaf Sports & Entertainment from Kilmer Sports Inc., becoming the company's sole stakeholder in a $4.35 billion dollar deal.
Last year, Rogers purchased BCE Inc (Bell)'s 37.5% stake in MLSE in a similar, major $4.7 billion buyout. Until then, both telcos shared equal stakes, with the remaining quarter owned by Kilmer, which is owned by Larry Tanenbaum. (Tanenbaum, notably, leads the ownership group for the new WNBA team Toronto Tempo, which is not owned by MLSE).
advertisement
Now, Rogers has taken full control of the company.
“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,” says Tony Staffieri, president and CEO of Rogers. “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.”
This move grants Rogers a decisive hand on a major piece of the Toronto's sports and entertainment scene, as it takes control of the Toronto Maple Leafs, Toronto Raptors, Toronto FC and the Toronto Argonauts. The staple sports teams join the company's existing roster which includes the Toronto Blue Jays, Sportsnet and Rogers Centre, home to multiple major stadium concerts a year. Last year, Rogers Centre was named as the top Canadian concert stadium by Billboard Boxscore, with the venue notably hosting The Weeknd's record-breaking tour.
Staffieri landed at No. 3 on the Billboard Canada Power Players 2026 leaderboard, which ranks the most powerful influential executives in the Canadian music industry, where he already announced Rogers' intentions to fully own the Toronto entertainment empire.
“Sports is a great unifier, it rallies us and brings us together in a truly unique way,” says Edward Rogers, Rogers' executive chair. “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.”
advertisement
MLSE is an entertainment powerhouse within Toronto, owning seven sports teams and two of the biggest concert venues in the city, Scotiabank Arena and Coca-Cola Coliseum, running more than 145 live events and 100 concerts annually. Tricia Silliphant and Neil Claydon, MLSE's respective managing director of music & live entertainment and vice president of music & live entertainment, also ranked at No. 3 in the Live section of the Billboard Canada Power Players 2026 list. The company drives over $145 million in box office revenue yearly.
“Sports and entertainment are a core part of our business, and we plan to bring our world-class sports and entertainment assets together and surface more value for our shareholders long-term,” adds Staffieri. “The strategic value of our sports business is even greater when you combine it with our core connectivity business – it gives us a unique value proposition to compete in a very crowded marketplace.”
Rogers expects the transaction to close in the fourth quarter of 2026.
advertisement
keep readingShow less
advertisement
Popular
advertisement
Published by ARTSHOUSE MEDIA GROUP (AMG) under license from Billboard Media, LLC, a subsidiary of Penske Media Corporation.
advertisement