Raptors main owners may sell stake in team
The ownership of the Toronto Raptors is an interesting mess.
There is a seven-person board that directs Maple Leaf Sports and Entertainment (which owns the Raptors, the NHL’s Maple Leafs and other sporting entities). The Ontario Teachers’ Pension Plan owns Two thirds of that.
But the pension plan has announced it may sell its shares, the Associated Press reports.
The NBA has an ownership transition that has gone slowly not far away in Detroit, while they league took over the team in New Orleans and is looking for an owner — and a financial way — to keep the team in the big easy. Team sales are not necessarily going smoothly right now.
Yet you can imagine demand for this team. Toronto is certainly a big enough market to support a team and the Raptors have a strong and loyal following. It would be interesting to see if a more traditional, single majority owner would change the fortunes of a franchise that has struggled on the court.