Rogers Communications is set to become the majority owner of Maple Leaf Sports and Entertainment by acquiring Bell Canada's 37.5 percent stake for $4.7 billion, aiming to enhance its portfolio in sports.
Tony Staffieri, president and CEO of Rogers, expressed enthusiasm for the acquisition, stating, 'MLSE is one of the most prestigious sports and entertainment organizations in the world and we're proud to expand our ownership of these coveted sports teams.'
Bell Canada Enterprises is divesting its stake to lessen its debt and shift from a telecommunications firm towards becoming a technology-focused company, as revealed in their media release.
The Toronto Maple Leafs are now valued at $2.8 billion, making them the richest team in the NHL, while the Raptors are valued at $4.1 billion, highlighting the financial growth since the original acquisition.
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