Rogers becomes sole owner of MLSE after purchasing remaining 25% stake

Rogers Communications Inc. says it has completed its purchase of the remaining 25 per cent stake in Maple Leaf Sports & Entertainment from Larry Tanenbaum's Kilmer Sports Inc.

With the $4.35-billion deal finalized, the telecommunications giant now owns 100 per cent of the sports conglomerate that includes the Maple Leafs, Raptors, Toronto FC and Argonauts.

The company says it plans to create a new business unit, Rogers Sports, that will encompass MLSE properties along with Rogers' previously owned assets such as the Toronto Blue Jays and other media and entertainment businesses.

Rogers' portfolio also includes Rogers Centre, Sportsnet and 30-plus other television networks, and more than 40 radio stations.

It also announced Keith Pelley will remain president and CEO of MLSE while taking on additional responsibilities for Rogers Sports effective immediately, and Mark Shapiro will remain president and CEO of the Blue Jays.

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The company has previously discussed a plan to monetize its combined sports and media assets, which it estimates are worth more than $25 billion in total, saying it will sell minority stakes in the portfolio to other investors by the first half of 2027 and use those proceeds to pay down debt.