Done deal: MLSE sold to Bell/Rogers for $1.3 billion
It was just a report last night, but today the Maple Leafs have been sold.
The Ontario Teachers’ Pension Fund have sold their majority stake in Maple Leaf Sports and Entertainment to Rogers Sportsnet and Bell Canada for a whopping $1.3 billion. The partnership is an awkward one as Bell and Rogers are competitors in communications. Bell also owns a small part of the Montreal Canadiens on top of it all. No, they won’t be forced to divest their interest there. That should make Habs-Leafs games a bit more fun.
How this affects the future of the Leafs (as well as MLSE’s other sports interests) will be curious. Will Bell and Rogers amp up their interest in running the Leafs to try and generate more money for the team by taking a keener interest in how they do? Will the new owners treat the Leafs as a cash cow that effortlessly makes money for them?
After the executive board room way of life the Ontario Teachers seemed to do things, seeing a two-headed monster with a direct interest in how well the Leafs perform will be fascinating to watch.