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Why Rogers has confirmed plan to sell MLSE stake after completing major transaction
Communication company recently took over 100% ownership of MLSE and now owns Maple Leafs, Raptors, Blue Jays and more.
Published Jul 23, 2026 • 2 minute read
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Edward Rogers and Tony Staffieri.
Edward Rogers and Tony Staffieri. Photo by Gigi Suhanic /Postmedia illustration
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Rogers finally collected all the Infinity Stones of its Toronto sports franchise gauntlet — and now will sell off a piece of its newfound total power.
The massive communications company, which recently gained complete ownership of MLSE, confirmed that it will be selling off a stake in its sports holdings.
Earlier this month, Rogers purchased the remaining 25% stake of MLSE from Larry Tanenbaum’s Kilmer Sports Inc. for $4.35 billion.
It completed a full takeover that had been initiated last year, when Rogers bought Bell Communications out of its 37.5% share in the company for $4.7 billion.
With the purchase, Rogers attained full control over the MLB’s Blue Jays, the NHL’s Maple Leafs, the NBA’s Raptors, Toronto FC of MLS, and the CFL’s Argonauts, among other minor franchises, properties and sports holdings.
However, the company is now looking to sell off a piece of the pie to recoup some of that cash — a move that had been expected by many.
What did Rogers say about the sale?
During an analyst call on Wednesday, Rogers CFO Glenn Brandt confirmed the company’s plan.
“I’m confident that we will be able to present that this is a very premium collection of assets and there are limited opportunities for buying in,” Brandt said, per Front Office Sports. “I do not expect discounts and we will work hard to drive as strong a valuation as we can. But that the market will determine what that is.
“The exercise here is to sell a non-voting minority interest in common equity of the combined entities and to participate in the growth opportunity for that investment.”
According to the outlet, Rogers posted a 53% gain in second-quarter sports and media revenue to the tune of $851 million, which beat estimates.
However, Rogers long-term debt is nearly $25 billion and the company reported a net loss of $515 million in the most recent financial quarter, mainly due to the MLSE equity purchase.
What did Rogers say about completing MLSE purchase?
While the deal came at quite the expense, it solidified Rogers hold on sports in Toronto and across Canada.
[Brendan Shanahan (left) speaks with Larry Tanenbaum during a press conference in 2024.
Rogers completes purchase of MLSE, officially ending Larry Tanenbaum era](https://torontosun.com/sports/hockey/nhl/toronto-maple-leafs/rogers-completes-purchase-mlse-larry-tanenbaum)
2. [Larry Tanenbaum holds the Larry O'Brien Championship Trophy after the Toronto Raptors defeated the Golden State Warriors to win Game 6 of the 2019 NBA Finals.
Nobody championed basketball like Larry Tanenbaum, MLSE's heart and soul](https://torontosun.com/sports/basketball/nba/toronto-raptors/nobody-championed-basketball-like-larry-tanenbaum)
In a release earlier this month, Rogers president and CEO Tony Staffieri called the MLSE deal “a defining moment” for the company.
“Our full ownership of MLSE brings together Canada’s premier communications company with Canada’s premier sports and entertainment organization,” Staffieri wrote. “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.”
Edward Rogers, the company’s executive chair, added:“Sports is a great unifier, it rallies us and brings us together in a truly unique way.
“Winning is everything for fans and we’re committed to investing to bring championships to Canada as a proud owner and long-term steward of these beloved teams.”
–with Lance Hornby files
Sophie Cunningham of the Indiana Fever arrives at Michelob ULTRA Arena for a game against the Las Vegas Aces.
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