Rogers offers 1.3 Billion for Leafs/Raptors.

[puffy 97]

TORONTO - A published report suggests Rogers Communications is in talks to buy the Toronto Maple Leafs in a deal worth more than $1 billion.

Citing anonymous sources, the Toronto Star reports the sale would include the NBA's Toronto Raptors, Toronto FC of Major League Soccer and the Marlies, the Maple Leafs' American Hockey League minor hockey team.

The $1.3 billion deal would be the biggest transaction in Canadian sport history and transform Rogers Communications Inc., which already owns the Toronto Blue Jays, into one of the most powerful sports enterprises in North America.

Sources said the deal to buy a majority stake in Maple Leafs Sports and Entertainment from the Ontario Teachers' Pension Plan would include the Leafs and Raptors TV stations, but not MLSE's real estate holdings.

"I know it's real," a top sports industry executive, who requested anonymity, told the newspaper. "I've heard it from Rogers at a high executive level and from MLSE at (the highest) level."

Spokespersons with both Rogers and the Ontario Teachers' Pension Plan declined comment.

“It's our policy to neither confirm or deny,” said Deborah Allan, director of communications and media relations for the Ontario Teachers Pension Plan.

Richard Peddie, MLSE's chief executive officer, referred all questions to Teachers' representatives.

“It's a shareholder matter,” he said. “I have not been involved in any discussions and I have no knowledge of it.”

http://tsn.ca/nhl/story/?id=343627

Edited December 1, 2010 by puffy

[toby91_ca 620]

Heard a bit about this last night and this morning on the radio, pretty interesting if it goes through. They'd own the Jays, Leafs, Raptors and Toronto FC (soccer). A lot of the talk is that it woudl be good for the Leafs (from a fans perspective) in that Rogers would be more vested in putting a winning team on the ice than Teachers. Teachers simply hold it as an investment and whether the team wins or losses, money keeps rolling in.

[Nev 1,085]

People have always held that against the Leafs ownership, but the fact is they;ve always had one of the highest payrolls. They haven't underachieved/sucked because of tight-fistedness. Its because of persisant poor management by numerous different regimes, of which Burke is just the latest incarnation to be afraid to embrace the suck short-term, in order to build through high draft picks in the long term (cf. Chicago + Pittsburgh). The result? They still suck, but not enough to get better,

[Guest Stolberg]

that's pocket change for me

[DMAC 25 18]

hopefully they can get it, the leafs are top 5 in my favorite teams and it sucks seeing them lose all the time. hopefully they can turn the program around a little

[BlakKy 58]

that's pocket change for me

best avatar

[MacK_Attack 108]

It's not even $1.3 billion for the whole organization, just the teacher's 66% share.

[cusimano_brothers 1,655]

Toronto Star.

[cusimano_brothers 1,655]

From TSN:

The Ontario Teachers Pension Plan is throwing cold water on reports it's looking to sell its share in the company that owns the Toronto Maple Leafs, Toronto Raptors and other sports teams.

...

[WpgMikos 17]

I just hope that the money Rogers will be throwing into the Leafs, wouldn't be funds that could be directed towards the Jays. (in that damn AL East, they could use any/all funds available).

The biggest issue from what I've read is this could sound the death nell for CBC's Hockey Night in Canada.

[BlakKy 58]

My only fear is losing HNIC.

Even if it lives on under Rogers it just won't have the prestige or history of the traditional CBC broadcast.

Not to mention that the CBC pays me a pittance every week for bumper editing.

[truebladearmy 33]

I wish I had an extra Billion to buy a hockey team with. As it is currently, I've got to save money just to buy new skates.