Rogers Communications is planning to sell a minority stake in its growing sports portfolio at a valuation exceeding $18 billion, as part of a broader strategy to reduce debt and unlock asset value.
The move follows Rogers’ 2025 acquisition of a 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) from BCE, bringing its ownership to 75%. The company now aims to acquire the remaining 25% later this year from Larry Tanenbaum, consolidating full control before bringing in outside investors.
MLSE owns several major franchises, including the Toronto Maple Leafs, Toronto Raptors and Toronto FC, while Rogers also directly owns MLB’s Toronto Blue Jays.
CEO Tony Staffieri said the company plans to combine its sports, media and entertainment assets into a single entity, creating one of the most significant vertically integrated sports groups globally. The portfolio is expected to be valued at more than CAD $25 billion.
Rogers intends to use proceeds from the minority stake sale to pay down debt, while still maintaining control of the assets. CFO Glenn Brandt emphasized that the strategy is designed to “surface†value not currently reflected in the company’s share price.
According to Sportico estimates, Rogers’ core team assets alone are worth roughly $12.5 billion, led by the Raptors ($4.66B) and Maple Leafs ($4.25B). The broader valuation also factors in media holdings such as Sportsnet and the strategic advantage of owning multiple franchises within the same market—Toronto, one of North America’s largest sports hubs.
The recapitalization process is expected to be completed by late 2026 or early 2027, positioning Rogers alongside the few global sports conglomerates with multi-team ownership across major leagues.