Rogers Communications announced that it has signed an agreement to buy the remaining 25% ownership stake in Maple Leaf Sports & Entertainment from Kilmer Sports. The transaction is valued at C$4.35 billion and will increase Rogers’ ownership of MLSE to 100%.
Rogers said the deal brings together Canada’s premier communications company with one of the country’s leading sports and entertainment organizations. The company said full ownership of MLSE will create more opportunities to invest in teams, improve fan experiences, and unlock long-term value for shareholders.
The transaction builds on Rogers’ long-standing investment in Canadian sports. Beyond MLSE, the Rogers sports portfolio includes ownership of the Toronto Blue Jays, Rogers Centre, and Sportsnet.
Rogers also has strategic partnerships with the Vancouver Canucks, Edmonton Oilers, Calgary Flames, the NHL, the NBA, MLB, and Live Nation. The company said the expanded sports and entertainment portfolio will help it deliver more value to fans and customers.
Rogers plans to bring its sports and entertainment assets together to create more compelling offers and experiences. This could include expanded affordable ticket options, ticket giveaways, and unique experiences such as attending the World Series or the Stanley Cup Finals.
The company said full ownership of MLSE will strengthen its ability to drive long-term growth across communications, sports, and entertainment. Rogers also said the strategic value of its sports business increases when combined with its core connectivity business.
Rogers intends to finance the transaction with committed liquidity. The company also reiterated its previously disclosed plan to sell a minority stake in its consolidated sports, media, and entertainment assets over the next year.
The transaction remains subject to league approvals. Rogers expects the transaction to close in the fourth quarter of 2026.
Rogers Communications is a Canadian communications, sports, and entertainment company. Its shares trade on the Toronto Stock Exchange and the New York Stock Exchange.
KEY QUOTES:
“This is a defining moment for Rogers. Our full ownership of MLSE brings together Canada’s premier communications company with Canada’s premier sports and entertainment organization. It gives us even more opportunity to invest in championship-calibre teams, create unique experiences for customers and fans, and unlock long-term value for shareholders.”
“We will create more opportunities for fans to connect with the teams they love, and we will invest to deliver unique and compelling rewards for our customers.”
“Sports and entertainment are a core part of our business, and we plan to bring our world-class sports and entertainment assets together and surface more value for our shareholders long-term. The strategic value of our sports business is even greater when you combine it with our core connectivity business – it gives us a unique value proposition to compete in a very crowded marketplace.”
Tony Staffieri, President and CEO of Rogers
“Sports is a great unifier, it rallies us and brings us together in a truly unique way. Winning is everything for fans and we’re committed to investing to bring championships to Canada as a proud owner and long-term steward of these beloved teams.”
“We want to recognize Larry Tanenbaum for his contributions to MLSE and to sports in Toronto. For decades, Larry has helped shape MLSE and we thank him for his partnership and his lasting impact.”
Edward Rogers, Executive Chair of Rogers
