Three of Toronto’s major league professional sports teams -- the Maple Leafs, Raptors and Major League Soccer’s Toronto FC -- could be sold to Canadian cable company Rogers in a $1.3 billion deal, according to a report in the Toronto Star.
Report: Maple Leafs, Raptors Could Be Sold To Rogers In $1.3 Billion Deal
The Star reports that Rogers is seeking to buy a 66-percent stake in Maple Leaf Sports and Entertainment currently owned by the provincial teachers’ pension fund. It would give Rogers a controlling interest in basically the entire Toronto pro sports scene, given that Rogers already owns the Blue Jays.
Toronto is the largest media market in Canada and among the five largest in North America. The Leafs have long been the NHL’s most valuable franchise, with Forbes pegging its value at nearly $450 million. The Raptors, Canada’s only NBA team, are worth $386 million, according to Forbes.
Should the deal go through, Rogers would be expected to create a powerful sports cable network with exclusive Canadian rights to Leafs, Raptors, Jays and Toronto FC broadcasts, similar to what the MSG Network has in New York with the Knicks, Rangers, MLS Red Bull and WNBA Liberty.
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