Rogers Communications has agreed to buy the remaining 25 percent stake in Maple Leaf Sports and Entertainment from Kilmer Sports Inc. for C$4.35 billion. The deal gives Rogers full ownership of Canada’s most valuable sports portfolio, valued at C$17.4 billion total, and closes Q4 2026 pending NHL, NBA, MLS and CFL approvals.
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Rogers MLSE Acquisition 2026: The Deal Details
Rogers announced the agreement on July 6, 2026, buying Larry Tanenbaum’s Kilmer Sports stake for C$4.35 billion. The sale ends the Tanenbaum family’s long involvement in MLSE and consolidates full control under Rogers.
The deal requires NHL, NBA, MLS and CFL approval and is expected to close Q4 2026. It follows Rogers’s 2025 purchase of BCE Inc.’s 37.5 percent stake, which had already made Rogers the majority owner. This is the final consolidation step.
What Rogers Will Own After the Deal Closes
Through MLSE, Rogers will own the Toronto Maple Leafs (NHL), Toronto Raptors (NBA), Toronto FC (MLS), Toronto Argonauts (CFL) and Scotiabank Arena.
Combined with existing Rogers assets, the portfolio will also include the Toronto Blue Jays, Rogers Centre and Sportsnet, creating Canada’s most vertically integrated sports, media and entertainment company.
Why MLSE Is Worth C$17.4 Billion
The C$17.4 billion valuation is 39 percent higher than the value implied in the BCE stake sale just one year ago. That jump reflects a new NHL US broadcast deal in 2026 that significantly lifted franchise values across the league.
The Toronto Maple Leafs command a premium as hockey’s most storied franchise. The Raptors benefit from the NBA’s global growth as Toronto’s only Canadian market. CBC News has the full deal timeline.
For more on Canadian corporate deals, see our 2026 Canada deals coverage and May 2026 roundup.
How Rogers Is Financing the Acquisition
Rogers will use committed liquidity, existing credit facilities and capital markets access, with no new equity raise. The company plans to sell a minority stake in the consolidated sports and media assets within a year to bring in a strategic or institutional partner.
That minority stake sale will attract interest from Canadian pension funds and international sports private equity funds seeking North American franchise exposure.
What This Means for Canadian Sports and Media
One company will own the teams, the arena, the broadcast network and the streaming rights. That concentration will draw regulatory scrutiny around access, pricing and fairness for fans and rival broadcasters.
For Rogers, the logic is clear. Live sports rights cannot be time-shifted or pirated, making them uniquely valuable in a cord-cutting era. Owning content and distribution gives Rogers a structural subscriber retention advantage no competitor can easily replicate.
Frequently Asked Questions
How much is Rogers paying for MLSE?
Rogers is paying C$4.35 billion for the remaining 25 percent stake from Kilmer Sports Inc. The deal implies a total MLSE valuation of approximately C$17.4 billion, 39 percent higher than the valuation from Rogers’s previous MLSE stake purchase one year ago.
What teams does Rogers own through MLSE?
Rogers will own the Toronto Maple Leafs, Toronto Raptors, Toronto FC and Toronto Argonauts through MLSE, plus the Toronto Blue Jays, Rogers Centre and Sportsnet through existing holdings.
When will the Rogers MLSE acquisition close?
The Rogers MLSE acquisition 2026 is expected to close in Q4 2026, subject to NHL, NBA, MLS and CFL approvals. Rogers plans to sell a minority stake in the consolidated portfolio in the following year.
