Now having amassed one of the world’s largest and most powerful sports portfolios, Rogers Communications is selling a piece of those assets.
The owner of every major pro sports team and facility in Toronto, as well as several other major holdings across Canada, Rogers confirmed early Wednesday a long-expected move to sell a minority stake in its consolidated sports and media properties.
This latest step by Rogers closely follows a separate agreement with Kilmer Sports worth $3.1 billion to acquire the final 25% of Maple Leaf Sports & Entertainment that it didn’t already own. Rogers—the majority owner of the parent company of the NHL’s Maple Leafs and NBA’s Raptors—has long had the option to buy this last bit of MLSE equity, and it had previously signaled its intent to exercise it.
The Kilmer transaction, expected to close in the fourth quarter of this year, will further cement the status of Rogers as one of the world’s most powerful sports ownership entities. Rogers, however, also sees reselling a piece of the combined sports and media assets as a way to improve shareholder value and reduce its long-term debt that still nears $25 billion. The company is aiming for a minority stake sale, or potentially multiple agreements, in the first half of 2027.
