Rogers cleared to become MLSE's majority owner

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Rogers cleared to become MLSE's majority owner

//sports-competition.news-articles.net/content/2 .. ers-cleared-to-become-mlse-s-majority-owner.html

Published in Sports and Competition on Monday, December 16th 2024 at 4:25 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Rogers Communications (TSX:RCI.A/B) has been given the green light from the Competition Bureau to acquire Bell's 37.5 per cent stake in Maple Leaf Sports & Entertainment ãƒ»The transaction will make Rogers the majority owner of the entity controlling The Toronto Maple Leafs and Toronto Raptors ãƒ»Rogers is Canada's leading communications and

Larry Tanenbaum has sold his 25% stake in Maple Leaf Sports & Entertainment (MLSE) to Rogers Communications, making Rogers the majority owner of MLSE, which includes teams like the Toronto Maple Leafs, Raptors, and Toronto FC. The deal, valued at $400 million, was approved by the NHL, NBA, and MLS, with the condition that Tanenbaum retains his position as MLSE's chairman. This transaction increases Rogers' ownership from 37.5% to 50%, while BCE Inc. (Bell) holds the remaining 37.5%. The agreement also includes a clause preventing Tanenbaum from selling his shares to any other party for 10 years, ensuring stability in MLSE's ownership structure.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/sports/general/rogers-cleared-to-become-mlse-s-majority-owner/ar-AA1vW1FO ]