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Rogers Communications, the Canadian telecom giant, is buying out Bell Canada's 37.5% stake in Maple Leaf Sports and Entertainment, the owner of the Toronto Maple Leafs and Raptors.

Why it matters: The deal gives Rogers majority control over MLSE and now makes it the majority owner for all of Toronto's top pro sports teams.

Zoom in: Rogers is buying the stake for C$4.7 billion, the company announced Wednesday morning. Sportico first reported the move.

Rogers and Bell, two telecom rivals, partnered on a joint venture in 2012 to buy MLSE from the Ontario Teachers' Pension Plan for CA$1.32 billion.

Rogers will now own 75% of the company, with MLSE chairman Larry Tanenbaum holding the other 25%.

In addition to the Maple Leafs and Raptors, MLSE owns the Canadian Football League's Toronto Argonauts and MLS club Toronto FC. It also owns the minor league clubs Toronto Marlies (AHL) and Raptors 905 (G-League) and Scotiabank Arena, where the Maple Leafs and Raptors play.

Rogers has been the majority owner of MLB's Blue Jays since 2000.

What's next: The deal is expected to close in mid-2025.

Bell Canada says it will use the sale to shift toward a more technology-focused business.

Rogers gains majority control of Maple Leafs and Raptors owner

Canadian telecom giant now owns all top Toronto sports teams.

Auston Matthews #34 of the Toronto Maple Leafs celebrates scoring against the Edmonton Oilers at Scotiabank Arena on March 23, 2024 in Toronto, Ontario, Canada.

Auston Matthews of the Toronto Maple Leafs celebrates scoring against the Edmonton Oiler on March 23 in Toronto. Photo: Michael Chisholm/NHLI via Getty Images

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Rogers Communications, the Canadian telecom giant, is buying out Bell Canada&#x27;s 37.5% stake in Maple Leaf Sports and Entertainment, the owner of the Toronto Maple Leafs and Raptors.Why it matters: The deal gives Rogers majority control over MLSE and now makes it the majority owner for all of Toronto&#x27;s top pro sports teams.

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Rogers gains majority control of Maple Leafs and Raptors owner

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