Rogers Now Controls 100% Of Raptors’ Parent Company

Rogers Communications, the Canadian communications/media giant that previously owned 75% of Maple Leafs Sport & Entertainment, now has 100% control of the Raptors’ parent company, per a press release from Rogers.

Rogers held a 37.5% share of Maple Leaf Sports & Entertainment up until September 2024, when it bought out BCE (Bell)’s 37.5% stake in MLSE to increase its share of the company to 75%. The ownership agreement gave Rogers the right to buy out the remaining 25%, primarily held by Larry Tanenbaum’s Kilmer Sports Inc.

Previous reporting indicated that Tanenbaum was obligated to began that sale process by July 7, 2026, and Rogers announced on July 6 that it had reached a deal to purchase the remaining 25% stake. The purchase agreement was subject to the approval of the various leagues that MLSE teams are part of and was expected to close before the end of 2026.

Rogers paid $4.35 billion Canadian for the remaining 25% of the company, which is the equivalent of roughly $3.06 billion in USD.

The Raptors are considered the most valuable asset in MLSE’s portfolio, with a Sportico valuation of $5.22 billion. The company also controls the NHL’s Toronto Maple Leafs, the MLS club Toronto FC, and a handful of smaller sports teams, such as the Toronto Argonauts (Canadian Football League) and Raptors 905 (G League). The company also owns and operates Scotiabank Centre and OVO Athletic Centre, the Raptors’ home arena and practice facility, respectively.

“We’re proud to bring these beloved teams together with the rest of Rogers to deliver more for fans, audiences, and customers,” said Tony Staffieri, president and CEO, Rogers. “We know how much these teams mean to fans and we are fully committed to investing to build championship-calibre teams, to enhancing the fan experience, and to delivering compelling experiences for our customers.”

Tanenbaum has long been the Raptors’ governor and the MLSE chairman, as well as the chairman of the NBA’s board of governors. However, the plan was for him to formally exit those roles. Tanenbaum was expected to step down as the Raptors’ governor and the NBA’s board of governors chairman at the end of September and leave his MLSE position once the sale closed.

During an earnings call in late July, Rogers CFO Glenn Brandt said the company plans to sell a minority stake in MLSE at some point in the first half of 2027, after it assumed full control. However, Thursday’s announcement didn’t have any update on those plans.