Rogers Communications has agreed a deal to buy the remaining 25% ownership stake in Maple Leaf Sports & Entertainment (MLSE).
Rogers is buying the stake from Kilmer Sports for C$4.35 billion, increasing its ownership in MLSE to 100%.
MLSE is the owner of the Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts and Toronto FC.
Rogers says it has a long track record of investing in Canadian sports and the company says it will continue to invest to bring championships to Canada, to continuously improve the fan experience, and to deliver the best sports content to all Canadians.
Beyond MLSE, the Rogers sports portfolio includes ownership of the Toronto Blue Jays, Rogers Centre and Sportsnet, the number one sports media brand in Canada.
The company also has strategic partnerships with the Vancouver Canucks, Edmonton Oilers, Calgary Flames, the NHL, the NBA, MLB and Live Nation.
Rogers Communications is Canada’s communications and entertainment company. It operates primarily in the fields of wireless communications, cable television, telephony, and Internet with significant additional telecommunications and mass media assets. Rogers has its headquarters in Toronto, Ontario.
Tony Staffieri, President and Chief Executive Officer, Rogers, said, “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.
“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.
“We will create more opportunities for fans to connect with the teams they love, and we will invest to deliver unique and compelling rewards for our customers.”
Edward Rogers, Executive Chair, Rogers said, “Sports is a great unifier, it rallies us and brings us together in a truly unique way. 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.”
Rogers will bring together its full sports and entertainment portfolio to deliver unique and compelling offers and experiences to fans and to Rogers customers. This will include investments to expand affordable options and access to tickets, ticket-giveaways, and unique once-in-a-lifetime experiences like attending the World Series or the Stanley Cup Final.
MLSE continues to be a highly valuable and appreciating investment. Full ownership of these iconic teams will strengthen Rogers ability to drive long-term growth across its communications, sports and entertainment businesses, the company said.
Staffieri added, “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.
“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 intends to finance the transaction with its committed liquidity. It intends to sell a minority stake in the consolidated Rogers sports, media and entertainment assets over the course of the next year.
The transaction is subject to league approvals. Rogers expects the transaction to close in Q4 2026.
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