Raptors, Maple Leafs parent company sell 37.5% ownership stake for $3.5 billion valuation | News, scores, highlights, stats & rumors

Rogers Communications has reportedly acquired a 37.5 percent stake in Maple Leaf Sports and Entertainment from BCE for $3.48 billion, giving Rogers a total ownership stake of 75 percent in MLSE.

According to Scott Soshnick and Kurt Badenhausen of Sportico, Rogers already owned 37.5 percent of MLSE before doubling his stake. The remaining 25 percent of the company is owned by Larry Tanenbaum.

MLSE is the parent company of the NBA’s Toronto Raptors, the NHL’s Toronto Maple Leafs and MLS’ Toronto FC. Based on the valuation of Rogers’ purchase, MLSE is now worth a total of $9.3 billion.

In addition to now owning majority stakes in the Raptors, Maple Leafs and Toronto FC, Rogers also owns the Toronto Blue Jays (Major League Baseball).

The only major professional sports franchise in Toronto that Rogers does not have a majority interest in is the Toronto Argonauts of the CFL, which are owned by Tanenbaum.

Both the Raptors and Maple Leafs have had mixed results in recent years, although the Raptors are not far removed from their first and only NBA championship.

Led by NBA Finals MVP Kawhi Leonard, the Raptors won it all in 2019, but Leonard left as a free agent after the season and the Raptors have since failed to advance past the second round of the playoffs.

The Raptors have now missed the playoffs two years in a row and three of the last four, including last season when they finished with their worst record since 2010-11 at 25-57.

For the Maple Leafs, reaching the play-offs was no problem at all. They have made eight consecutive play-offs, but have been eliminated quickly each time.

The Leafs have won just one playoff series in their streak, a first-round victory over the Tampa Bay Lightning in 2023, before falling to the Florida Panthers in the second round.

The Maple Leafs are loaded with offensive talent like Auston Matthews, Mitch Marner and William Nylander, but the playoffs are a different beast than the regular season and they’re still looking for their first Stanley Cup win since 1967.

Both the Raptors and Maple Leafs are preparing to begin their 2024-25 seasons next month.

The Raptors open their season with the Cleveland Cavaliers on October 23, while the Leafs play an away game against the Montreal Canadiens on October 9.