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The communications company recently announced a deal to acquire 100% ownership of MLSE (pending league approval) and become owners of the Maple Leafs, Raptors, Blue Jays and others.
Published July 23, 2026 • Last updated 1 hour ago • 2 minutes read
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Edward Rogers and Tony Staffieri. Photo by Gigi Suchanich /Post-media illustration
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The entire Toronto-based Infinity Stones sports franchise is almost under threat from Rogers, but one of the company’s first moves appears to be selling off some of its newfound power.
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Earlier this month, the communications major announced it had reached an agreement to buy the remaining 25% stake in MLSE from Kilmer Sports Inc. Larry Tanenbaum for $4.35 billion.
It is slated to complete a full takeover, subject to league approval but expected to be completed later this year, that began last year when Rogers bought Bell Communications out of its 37.5% stake in the company for $4.7 billion.
The purchase will give Rogers full control of the MLB Blue Jays, the NHL’s Maple Leafs, the NBA’s Raptors, the MLS’ Toronto FC and the CFL’s Argonauts, as well as other minor franchises, real estate and sports holdings.
However, the company will be looking to sell a piece of that pie to recoup some cash, a move the company previously announced.
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What did Rogers say about the sale?
On a call with analysts on Wednesday, Rogers Chief Financial Officer Glenn Brandt confirmed the company’s plan.
“I am confident that we will be able to present that this is a very premium collection of assets and the buying opportunities are limited,” Brandt said, according to Front Office Sports. “I don’t expect any discounts and we will work hard to get the valuation as high as possible. But what that is will be determined by the market.
“The objective here is to sell a minority, non-voting interest in the common stock of the combined businesses and participate in the growth opportunity of that investment.”
According to the publication, Rogers reported a 53% increase in sports and media revenue in the second quarter to $851 million, which exceeded forecasts.
However, Rogers has nearly $25 billion in long-term debt and the company reported a net loss of $515 million in its most recent fiscal quarter, primarily due to its purchase of MLSE shares.
What did Rogers say about completing the purchase of MLSE?
Although the deal was quite expensive, it strengthened Rogers’ position in the sport in Toronto and across Canada.
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Rogers completes purchase of MLSE, officially ending the Larry Tanenbaum era
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No one championed basketball more than Larry Tanenbaum, the heart and soul of MLSE.
In a release earlier this month, Rogers President and CEO Tony Staffieri called the MLSE deal a “defining moment” for the company.
“Our full ownership of MLSE combines Canada’s leading communications company with Canada’s leading sports and entertainment organization,” Staffieri wrote. “This gives us even more opportunity to invest in championship-caliber teams, create unique experiences for customers and fans, and unlock long-term value for shareholders.”
Edward Rogers The company’s executive chairman added: “Sport is a great unifier, it brings us together and unites us in a truly unique way.
“Winning is everything to the fans and we are committed to investing in bringing championships to Canada as the proud owners and long-term stewards of these beloved teams.”
– with files from Lance Hornby
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