BCE & Rogers Acquire MSLE......$1.32 Billion

[The Cobra]

Canadian Press

BCE Inc. and Rogers Communications announced Friday that the two companies have partnered together to acquire a majority share of Maple Leaf Sports and Entertainment for $1.32 billion. Watch TSN's coverage of the announcement live on TSN, TSN.ca and TSN Mobile TV right now.

"MLSE teams are among the most popular major-league franchises in North America, iconic sports brands watched and loved by millions of fans across our nation. As Canada's largest and most established communications company, Bell is proud to be part of this all-Canadian acquisition of a world leader in sports and entertainment," said George Cope, President and CEO of Bell Canada and BCE in a statement.

"Bell's ownership in MLSE supports our promise to deliver the best content to Canadians across every screen. With our advanced broadband network investments, next generation Bell TV, Mobility and Internet services, and leading sports networks TSN and RDS, the Bell team looks forward to bringing the Leafs, the Raptors, the Marlies and Toronto FC to fans in new and innovative ways."

Bell's net cash commitment, following a planned leveraged recapitalization of MLSE, will total $398 million, representing a 28 percent equity interest in MLSE, and will be funded with cash on hand at closing. Through a co-investment arrangement with Bell, the BCE Master Trust Fund, an independent trust that holds and manages pension fund investments serving the pension obligations of BCE Group pension plan participants, will contribute $135 million toward the MLSE acquisition.

The total investments by Bell and the BCE Master Trust Fund equal the 37.5 percent equity interest to be acquired by Rogers.

Maple Leaf Sports and Entertainment runs the Toronto Maple Leafs hockey club, the NBA's Toronto Raptors, Toronto FC of Major League Soccer, the American Hockey League's Toronto Marlies and the Air Canada Centre.

The company also has real estate holdings and television properties that include Leafs TV and Raptors TV.

For BCE Inc., the deal also confirms the company's long-standing association with and ownership in the Montreal Canadiens.

As part of the deal, Kilmer Sports Inc. (KSI) - owned by Toronto businessman Larry Tanenbaum - will increase its current 20 percent stake in the company to 25 percent.

"I am excited to welcome our new partners Bell and Rogers," said Tanenbaum in a statement. "I am proud this is a Made-in-Canada deal that will bring resources and expertise to help us win on and off the ice, court and pitch. This is a terrific path forward for our teams and our fans. It will ensure MLSE continues to make a positive impact in Toronto and across this great country of ours."

The transaction is expected to close in mid-2012 following required regulatory and league approvals

[aevt628]

well does this mean they actually change the name tsn== toronto sports network

[The Cobra]

well does this mean they actually change the name tsn== toronto sports network

Ha, I doubt it..... but they may change the Leafs to a contender by freeing up some of that hoarding teachers` $$$$$..................nahhhhhhhh. lol

[FTA]

does this sale not require league aproval tho .. noyt unlike when jim basille was trying to buy a team ... ? could bettman not quash this ?
this is something i am still wondering .. they are buying the team .. they need the league aproval . either that or they have already lined bettmans pocket.

[JCO]

Bettman will aprove the deal.. This means Leafs will only be on seen as a PPV event, and wont be a contender till 2075.. As long as the seats are sold out and the Leafs fans watch substandard play they wont invest money in a wining team..
Wanna see the Leafs build a contender, stop buying tickets and watching the crappy show they have been putting on for over 40 years..:comfort1:
Then and only then they will spend money on players to protect their original investment..

[ft@t@lk™]

it's hard to believe that the Maple Leafs are the NHL's most valuable franchise with a value of $521-million (according to Forbes)...this despite not having won the cup in over 40 years

[The Cobra]

it's hard to believe that the Maple Leafs are the NHL's most valuable franchise with a value of $521-million (according to Forbes)...this despite not having won the cup in over 40 years

Not hard to believe at all my friend-----the Leafs Inc...simply didn`t care! It goes back to the old Harold Ballard days who was quoted " look at them (referring to the fans) they`ll fill this place (MLG) no matter what we put on the ice"...hence all the Leafs fans references to "sheep". Truth be spoken, you could print tickets to Leaf practices and they`d sell out as well. Too bad they LeafsInc have so little regard for their real fans----take a look at a Leafs game on TV, you`ll see suits talking and texting on their blackberrys. Sold out season tickets are held by corporations in Toronto and for those "fans" it`s more important to "be seen" at a game than to see a game. That`s the real shame!!!

[JCO]

it's hard to believe that the Maple Leafs are the NHL's most valuable franchise with a value of $521-million (according to Forbes)...this despite not having won the cup in over 40 years

Thank the corporate season tickets holders, and 12$ beers for that..LOL
If the fans boycott the games then you will see talent on the ice..
Its not only Ballard that thinks like that, most pro franchise owners have the same thoughts..:thumbsup::tehe:

[repomambo]

Rogers is the big difference with this ownership change. In the release it stated that Tanenbaums company owns 25% thats actually inaccurate as the Teachers retain 5% with Tanenbaums group holding first rights to purchase that 5%. Tanenbaums group will give that right to Rogers and they will have majority ownership in near future with John Tory as next CEO (Peddie retires in couple months). Bells 37.5 gives them a a big say in future broacast availability with streaming both wired and mobile for ALL of MLSE properties (Leafs,Raptors,Marlies, Toronto FC) It's SO much bigger then just the Leafs.The Leafs are just the falgship purchase and I believe that we will see a competitive Leaf team now or heads will roll with Rogers at the helm.
I'm excited for the future now with the Teachers out of control (nothing but a piggybank the way they treated it)....Look what Rogers has done with the Jays and brought them back to respectability even with a half empty stadium so its not just asses in the seats that drive their thinking
Calling it!!

[ft@t@lk™]

Not hard to believe at all my friend-----the Leafs Inc...simply didn`t care! It goes back to the old Harold Ballard days who was quoted " look at them (referring to the fans) they`ll fill this place (MLG) no matter what we put on the ice"...hence all the Leafs fans references to "sheep". Truth be spoken, you could print tickets to Leaf practices and they`d sell out as well. Too bad they LeafsInc have so little regard for their real fans----take a look at a Leafs game on TV, you`ll see suits talking and texting on their blackberrys. Sold out season tickets are held by corporations in Toronto and for those "fans" it`s more important to "be seen" at a game than to see a game. That`s the real shame!!!


Thank the corporate season tickets holders, and 12$ beers for that..LOL
If the fans boycott the games then you will see talent on the ice..
Its not only Ballard that thinks like that, most pro franchise owners have the same thoughts..:thumbsup::tehe:

I would think that most if not all NHL franchises have the same business model....fill the seats by selling to corporations so not sure that is the reason the Maple Leafs are the most valuable franchise

[FTA]

dont forget nba still needs to approve it too ... aswell as mls so it still could go down the ****ter. it ha[ppened to basillie

[repomambo]

dont forget nba still needs to approve it too ... aswell as mls so it still could go down the ****ter. it ha[ppened to basillie
Your right about the extra approval needed,but they have it already from sources I know

[The Cobra]

Done deal.............and I`ll totally agree with repomambo on that`s it`s a positive step for the Leafs at least...having Rogers involved instead of the piggy banking teachers. Like JCO...