From a media standpoint, a big deal has been agreed to here in Canada. The Ontario Teachers Pension Fund has sold their 80% stake in Maple Leaf Sports & Entertainment for $1.32b to media conglomerates Rogers and Bell. MLS&E owns the Toronto Maple Leafs (NHL), Toronto Marlies (AHL), Toronto Raptors (NBA), Toronto FC (MLS), Leafs TV, Raptors TV, the Air Canada Centre (home to Leafs and Raptors) and some other real estate. Rogers already owns Sportsnet (cable sports station) while BCE is the parent company of Bell which owns TSN (also a cable sports station).
Bell will likely have to sell their 18% stake in the Montreal Canadiens, Rogers owns the Blue Jays (MLB) and Argos (CFL) and has a deal with the Buffalo Bills hosting a number of Bills games in Toronto.
The split of the deal Rogers and Bell will each hold 37.5% and minority stake holder Larry Tannenbaum will increase his stake from 20 to 25%.
The deal will require the approval of the NHL, NBA and Canada's regulatory board. Plans are for ownership to transfer from the Pension Fund next summer (if I understood part of the press conference correctly).
Story: http://www.thehockeynews.com/articles/4 ... owner.html
