Pedestrians pass MLSE headquarters in Toronto.Chris Young/The Canadian Press
Rogers Communications Inc. RCI-B-T has signed an agreement to buy the remaining 25-per-cent stake in Maple Leaf Sports & Entertainment from Kilmer Sports Inc. for $4.35-billion, giving it full control over Toronto’s top sport teams and bringing it one step closer to its minority sale strategy.
Through the deal, Rogers now owns the entirety of the Toronto Maple Leafs, Toronto Raptors, Toronto FC and Toronto Argonauts, which it adds to its existing sports holdings, the Toronto Blue Jays, the Rogers Centre and Sportsnet.
“This is a defining moment for Rogers,” said Rogers president and chief executive officer Tony Staffieri in a release Monday morning. “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.”
Rogers signals it may wait to acquire final MLSE stake before seeking outside investors
The company said it would invest to expand affordable options and access to tickets, and to bring more championships to the city.
The transaction is subject to league approvals and expected to close in the fourth quarter of 2026. Rogers said it intends to finance the transaction with its committed liquidity.
The company said it plans to sell a minority stake in the consolidated sports, media and entertainment assets over the course of the next year.
“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,” Mr. Staffieri said.