Mere weeks after the team won the Grey Cup, Maple Leaf Sports and Entertainment (MLSE) announced late Wednesday afternoon that it’s buying the Toronto Argonauts.
MLSE currently owns the Leafs, Raptors and recently crowned MLS Cup champions, Toronto FC, as well as each team’s minor league affiliate. The company is jointly owned by Rogers, Bell and Kilmer Group, a holding company owned by Toronto businessman Larry Tenebaum. MLSE is buying the team from Bell and Kilmer Group. Essentially, the sale adds a new part owner to the equation and will likely simply operation of the team.
Indeed, MLSE says the sale will result in a number of “operational synergies” related to the running of the team. In addition, the company already owns the Toronto Exhibition Place, the current home of the Argos and Toronto FC.
Terms of the deal were not disclosed. Moreover, the deal has yet to be approved by the CFL Board of Governors.
“Under its current ownership, a transformed Argonauts football club enhanced its presence and fan base in Canada’s largest sports market and ultimately marched to the CFL Championship,” said Michael Friisdahl, president and CEO of MLSE, in a prepared statement. “We look forward to building on the Argos’ strong momentum as we welcome the team to the leading provider of sports and entertainment experiences in Canada.”
The deal comes in the wake of a Rogers executive saying the company is exploring whether to sell the Blue Jays.
Source: MLSE
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