Big Changes Continue with Raptors Ownership & MLSE

Rogers Communication appears to be taking over the majority share of Maple Leafs Sports & Entertainment and its subsidiaries including the Toronto Raptors.

The Canadian telecommunications giant has reportedly acquired a 37.5% stake in MLSE from BCE Inc., formerly Bell Canada Enterprises Inc., per Sportico. The deal is worth CA $4.7 billion and values MLSE at $9.3 billion. The acquisition will give Rogers a 75% stake in the company.

Canadian entrepreneur Larry Tanenbaum owns the remaining portion of MLSE worth 25%.

This is the latest in a series of changes for MLSE. Tanenbaum began the process of selling off a portion of his ownership stake last season as he worked with the WNBA to bring a women's basketball to Toronto. The organization also named Keith Pelley as its new CEO, replacing interim CEO Cynthia Devine who had been in charge since 2022.

In addition to the Raptors, MLSE owns the Toronto Maple Leafs, Toronto Marlies, Toronto Argos, and Toronto FC. Rogers also owns 100% of the Toronto Blue Jays who are unaffiliated with MLSE.

It's unclear what kind of impact the acquisition will have on the Raptors organization. However, Rogers chairman Edward Rogers reportedly fought against efforts to re-sign Raptors president Masai Ujiri in 2021, per The Toronto Star. Ujiri's current contract is set to expire in 2026, per Sportsnet. It's unclear what his future will hold in Toronto following the expiration of his current deal.

Bell and Rogers have jointly owned MLSE since 2012 when the two telecommunication companies purchased the controlling portion from the Ontario Teacher's Pension Plan for CA$1.32 billion.