Rogers now owns nearly every major sports team in Toronto

Rogers Communications now pretty much has a monopoly on the Toronto sports market.

On Monday, the telecommunications giant announced a deal to acquire the remaining 25 per cent stake in Maple Leaf Sports & Entertainment (MLSE) that it did not already own from Larry Tanenbaum and Kilmer Sports Inc. for a reported $4.35 billion.

MLSE owns the Toronto Maple Leafs (NHL), Toronto Raptors (NBA), Toronto FC (MLS) and Toronto Argonauts (CFL).

The only top-tier professional sports teams in Toronto that Rogers does not own are the PWHL's Toronto Sceptres (owned by the league) and WNBA's new Toronto Tempo, owned by Larry Tanenbaum through Kilmer Sports Inc.

Tanenbaum has served as chair of the MLSE board for nearly 28 years. During his tenure, he's brought Toronto several Grey Cup championships, Toronto FC's 2017 MLS Cup title, and the Raptors' historic NBA championship in 2019.

Larry Tanenbaum of Kilmer Sports Inc. served as the Toronto Raptors chairman for nearly 28 years. (Dan Hamilton/Imagn Images)

Rogers first acquired a stake in MLSE in 2024 when it purchased Bell's 37.5 per cent interest. Nearly a year later, the amount rose to 75 per cent, which made Rogers the majority owner of MLSE.

The company has owned the Toronto Blue Jays and the Rogers Centre since 2000, while Canadian sports media giant Sportsnet also remains a major part of its sports portfolio.

In a press release, the company said that this transaction will continue to invest in bringing championships to Canada, improving the fan experience, and delivering the best sports content to all Canadians.

"Our full ownership of MLSE brings together Canada's premier communications company with Canada's premier sports and entertainment organization," said Tony Staffieri, Rogers president and CEO.

"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."

Rogers expects the deal to close in the fourth quarter of this year. The transaction is subject to league approvals.