Bell sells stake in MLSE
Published
Bell Canada Enterprises has reached a deal to sell its 37.5 per cent stake in Maple Leafs Sports and Entertainment to Rogers for $4.7 billion.
BCE has held its stake in MLSE for 12 years, owning a portion of the Toronto Maple Leafs, Toronto Raptors, Toronto FC, Toronto Argonauts and their minor-league affiliations. Bell and Rogers came to together in 2012 to purchase the majority stake of the MLSE from the Ontario Teachers’ Pension Plan.
“MLSE has been fortunate to have one of the very best ownership groups in sports and entertainment for many years and it has led to MLSE becoming one of the leading organizations in our industry," MLSE president and CEO Keith Pelley said in a statement. "As an organization, we are grateful for their contributions, and we remain fully focused on our priorities and further driving a championship mentality across MLSE.”
As part of the sale, Bell Media has secured access to content rights for the Toronto Maple Leafs and Toronto Raptors on TSN for the next 20 years through a long-term agreement with Rogers, also subject to league approvals. The transaction is expected to close in mid-2025.
TSN will continue to broadcast Toronto Argonauts and Toronto FC games through independent agreements with the respective leagues.
"We are proud of our time as co-owners of these iconic sports teams, and through this agreement have ensured that fans can count on Bell's continued support of their teams," Mirko Bibic, president and CEO of BCE Inc. and Bell Canada said. "Today's announcement demonstrates that we are focused on creating the financial flexibility to support our ongoing transformation and core growth drivers."
"This agreement confirms TSN's position as Canada's Sports Leader with long-term access to content rights to some of Canada's most beloved sports teams," Sean Cohan, president of Bell Media said. "At the heart of this deal are passionate fans, which TSN will continue to serve across all of our platforms with the premium coverage that audiences expect from Canada's Sports Leader."