In an intriguing and groundbreaking move that has sent shockwaves through the hockey world, Bell Canada Enterprises has announced the sale of its 37.5 per cent stake in Maple Leafs Sports and Entertainment to Rogers for a staggering $4.7 billion.
For the past 12 years, BCE has held a significant ownership share in MLSE, giving them a piece of the action when it comes to iconic teams such as the Toronto Maple Leafs, Toronto Raptors, Toronto FC, Toronto Argonauts, and their minor-league affiliates. This partnership with Rogers began in 2012 when the two telecommunications giants joined forces to acquire the majority stake of MLSE from the Ontario Teachers’ Pension Plan.
As part of this monumental sale, Bell Media has secured exclusive access to content rights for the Toronto Maple Leafs and Toronto Raptors on TSN for the next two decades through a long-term agreement with Rogers, pending league approvals. The finalization of this deal is anticipated to take place in mid-2025.
While TSN will continue to broadcast Toronto Argonauts and Toronto FC games through separate agreements with their respective leagues, the focus remains on the unparalleled coverage of the Maple Leafs and Raptors by TSN for the foreseeable future.
“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,” expressed Mirko Bibic, president and CEO of BCE Inc. and Bell Canada. “Today’s announcement demonstrates that we are focused on creating the financial flexibility to support our ongoing transformation and core growth drivers.”
Echoing this sentiment, Sean Cohan, president of Bell Media, emphasized the significance of this deal for TSN, solidifying its status as Canada’s Sports Leader with the long-term access to content rights for beloved Canadian sports teams. “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.”
The implications of this move are vast and multifaceted, promising a new era of sports broadcasting and ownership in the Canadian sports landscape. Stay tuned for more details as this story continues to develop.
