Telecommunications giants Rogers and Bell are teaming up to try to buy a majority interest in the company that owns the Toronto Maple Leafs, according to the National Post.
The bid for Maple Leaf Sports and Entertainment Ltd., which could be finalized as soon as Friday, is worth an estimated $1.4 billion, the National Post reported on its website late Thursday night citing sources close to the deal.
MLSE owns the NHL's Maple Leafs, the NBA's Toronto Raptors, Major League Soccer's Toronto FC and the American Hockey League's Toronto Marlies. It also owns the Air Canada Centre arena in downtown Toronto. The proposed deal is for more than 79 per cent of the company currently owned by the Ontario Teachers Pension Plan.
The National Post report said BCE Inc., the parent company of Bell, and Rogers Communications Inc., would split the majority stake in the MLSE if the deal goes through.
The other 20 per cent of the MLSE is owned by Toronto businessman Larry Tanenbaum.
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Toronto Maple Leafs president and general manager Brian Burke addresses the media in this file photo. According to a report Bell and Rogers are trying to buy a stake the the team's parent company, Maple Leafs Sports and Entertainement.
Photograph by: Tyler Anderson, Postmedia News