Telecommunications rivals join forces to purchase Leafs, Raptors
Rogers, which owns Maclean’s, has partnered with rival Bell to buy a 79.53 per cent share of Maple Leafs Sports Entertainment. The deal, reportedly worth $1.32 billion, gives the telecommunications behemoths control of the NHL’s Toronto Maple Leafs, the NBA’s Toronto Raptors, MLS’s Toronto FC, as well as specialty networks Leafs TV and Raptors TV. The deal is expected to be finalized this summer, at which point Rogers and Bell will each assume a 37.5 per cent share of the company, with current minority owner Larry Tannenbaum increasing his stake from 20 per cent to 25 per cent.