Rogers completes $4.35B takeover of remaining MLSE stake, gains full control of Leafs and Raptors

Rogers Communications completed its acquisition of the remaining 25 per cent stake in Maple Leaf Sports & Entertainment on Thursday, Oct. 1, solidifying its control over Toronto's major sports franchises. The company paid $4.35 billion to Kilmer Sports Inc. for the final stake.

The deal brings the Maple Leafs, Raptors, Toronto FC, and Argonauts fully under Rogers ownership—joining the Blue Jays, which the company already controlled. The acquisition also includes Scotiabank Arena, the Live Nation partnership, Rogers Centre, Sportsnet, over 30 television networks, and more than 40 radio stations.

Rogers created a new entity called Rogers Sports to oversee the portfolio. Keith Pelley, who remains President and CEO of MLSE, will now oversee Rogers Media as well. Mark Shapiro continues as President and CEO of the Blue Jays.

"MLSE has some of the most iconic sports teams, they are part of the fabric of our communities and our country," said Edward Rogers, Executive Chair of Rogers, in a statement. "Sports fans invest more than their money into their teams, they invest their time, passion and dreams. Their investment is personal and so is our responsibility."

Tony Staffieri, President and CEO of Rogers, added: "We know how much these teams mean to fans and we are fully committed to investing to build championship-calibre teams, to enhancing the fan experience, and to delivering compelling experiences for our customers."

Rogers estimates the combined sports and media assets are worth more than $25 billion. The company has announced plans to sell minority stakes in its portfolio by the first half of 2027, with proceeds to be used to pay down debt. The operational structure under unified ownership and specific investment priorities have not been detailed.