Rogers Communications has made a significant move in the sports and entertainment industry by acquiring Bell’s 37.5 percent ownership stake in Maple Leaf Sports & Entertainment (MLSE) for a whopping $4.7 billion. This deal makes Rogers the majority owner of MLSE, which owns the Toronto Maple Leafs and Toronto Raptors. The acquisition further solidifies Rogers’ position as a leading communications and entertainment company in Canada.
The CEO of Rogers, Tony Staffieri, expressed his pride in expanding their ownership of these prestigious sports teams. He emphasized the importance of live sports and entertainment in their core business strategy. This acquisition adds to Rogers’ already impressive portfolio, as they also own Sportsnet, which will continue to broadcast 50 percent of Maple Leafs regional games and 50 percent of Raptors games.
One of the key aspects of this deal is how it affects the Toronto Raptors and the NBA. The spotlight is now on team president and vice-chairman, Masai Ujiri. When Ujiri’s contract was up for renewal in 2021, Rogers chairman Edward Rogers reportedly scrutinized the decision to pay him as a top-of-market NBA executive. Despite some bumps in the road, Ujiri has been instrumental in the Raptors’ success, including their championship win in 2019. However, there are questions about how the relationship between Ujiri and Ed Rogers will evolve, given the latter’s position as the unquestioned leader of the organization.
On the other hand, the acquisition also has implications for the Toronto Maple Leafs. The team has qualified for the playoffs for eight consecutive years but has only advanced beyond the first round once during that span. The team’s lack of playoff success has led to growing impatience among fans and MLSE. The new Board of Directors will need to address the hockey operations department and make decisions about the team’s leadership. Brendan Shanahan, the Leafs’ president, is believed to be in the final season of his contract, and General Manager Brad Treliving is entering his second season with the team.
From a media perspective, BCE (Bell) announced that it secured an additional 20 years of rights as part of the sale. TSN, owned by Bell, will continue to have access to broadcast and sponsorship rights for 50 percent of Maple Leafs regional games and 50 percent of Raptors games. This ensures that both Rogers and Bell will maintain a significant presence in the sports media landscape.
Overall, Rogers’ acquisition of Bell’s ownership stake in MLSE has far-reaching implications for the sports and entertainment industry in Canada. It solidifies Rogers’ position as a leading communications and entertainment company while raising questions about the future of key figures within MLSE, such as Masai Ujiri and Brendan Shanahan. Fans of the Maple Leafs and Raptors will be closely watching how this ownership shakeup impacts their favorite teams’ success on and off the court/ice.