Rogers Communications is slated to acquire majority ownership of the Toronto Maple Leafs’ home, along with control of the city’s professional teams.

Rogers has agreed buy Bell Canada’s 37.5% stake in Maple Leaf Sports and Entertainment for $4.7 billion. Upon the deal’s completion, MLSE will own 75% of the company.

MLSE owns Scotiabank Arena as well as the NHL’s Maple Leafs, the American Hockey League’s Toronto Marlies, the Toronto Blue Jays of Major League Baseball, the Canadian Football League’s Toronto Argonauts and Major League Soccer’s Toronto FC.

“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,” said Rogers President and CEO Tony Staffieri in a statement.

“Together with our sports and media assets, we plan to surface more value for shareholders long-term. This agreement also ensures long-term Canadian ownership and investment of these iconic teams.”

The deal is expected to close in 2025.

Toronto entrepreneur Larry Tanenbaum (20%) and the Ontario Municipal Employees Retirement System (5%), own the remainder of MLSE.

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