In what would be the biggest transaction in Canadian sport history, Rogers is in talks to buy the Toronto Maple Leafs in a deal worth more than $1 billion, sources said Tuesday.
The sale would include the Raptors, Toronto FC soccer club and the Marlies, the Maple Leafs’ minor league hockey team.
Buying a majority stake in Maple Leafs Sports and Entertainment from the Ontario Teachers’ Pension Plan would transform Rogers, which already owns the Toronto Blue Jays, into one of the most powerful sports enterprises in North America.
Our favourite investigative reporter, Robert Cribb, drops a bombshell that Bloge Salming (sorry pal!) mentioned earlier in the day.
It's a long way from happening, especially since Larry Tanenbaum has the right of first refusal, but it's incredible to think that the OTPP might sell.
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PPP
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Insane...
In a round about way I think a deal like this would actually go a long way towards helping the Jays, I realize that Rogers has a lot of money to throw around now, but if they controlled the Leafs they would definitely be able to afford to throw lots of money at the Jays.
That said I can’t even begin to imagine why the OTPP would want to sell the Leafs. Owning the Leafs is like owning a license to print money.
It was mentioned in the article that the OTPP have essentially tapped out the max profits that they can make from MLSE in it’s current configuration. There are obviously new revenue streams that are possible (like a proper MSG-like cable network for the properties) but I think that the expertise that Rogers could bring to the table in that kind of situation would trump that of the OTPP.
I think at the end of the day the OTPP has to look at ways that they can not only have a lot of money on hand for the future, but also diversify their portfolio going forward. As much as having a sports team is a nice thing to have on your list of assets, it’s not exactly as re-assuring to the OTPP members. By comparison, if they used that sudden windfall from the sale to re-invest, I think that the Pension Plan would be in better financial shape going forward, which is their main concern.
by Phaneuf's Rock Collection on Dec 1, 2010 3:14 AM EST up reply actions
Just to inform
but the OTPP owns a very wide and diverse array of assets. They aren’t just owners of a hockey team, and I don’t think the diversity of their asset mix would have much to do with any likely sale.
The only reason they should sell the property is if they feel for some reason that it’s likely to STOP being profitable in the foreseeable future… or if they feel like they’re maximizing return by selling. Since the OTPP is on track to have it’s payments exceed it’s deposits in the not too distant future as a result of the baby boomers retiring and a decrease in the number of overall staff required in the teaching field, I don’t think it’s logical to assume that this whole thing amounts to a plan to reinvest in something else that is profitable.
Since they bought a large stake in the organization it has gone from being worth a few hundred million to over a billion. I’d like to think it’s worth more than $1.3 billion in the longer term to the teachers… but we’ll see.
"Success is the ability to go from one failure to another with no loss of enthusiasm."
- Sir Winston Churchill
I'm pretty sure he's talking about the Leafs.
My wife works in the pension industry. Her first question was: if they sold their interest in MLSE, what would the OTPP invest in? There likely isn’t another Canadian asset (or Canadian equities) that would give them a near guaranteed return like MLSE.
Bitter Leaf Fan: Skepticism, not cynicism.
Are they limited to Canadian interests?
"He should be wearing a Sens sweater" - describing someone acting less than sane or competent. Use it.
That’s a good question – I’m sure there’s a specific ratio of their holdings that have to be domestic, I’m just not sure what it is.
Bitter Leaf Fan: Skepticism, not cynicism.
A couple of friends of mine are investment bankers and they had the exact same question. They already have a tonne of cash that they don’t have invested. Why add more?
Pension Plan Puppets: A Toronto Maple Leafs blog and a group therapy session.
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The Star’s article on the topic says:
Sources close to the talks say the asking price for the 66 per cent stake owned by the Ontario Teacher’s Pension Plan, which has about $95 billion in assets, is in the neighbourhood of $1.3 billion.
So is the $1.3B for 66% of MLSE even that important to them in the grand scheme?
It would be 1.5% of their assets, the bigger question is what percentage of their return it represents, never mind the security of that return.
Bitter Leaf Fan: Skepticism, not cynicism.
Media Conglomorate Puppets?
"He should be wearing a Sens sweater" - describing someone acting less than sane or competent. Use it.
PPP would have to change his name too wouldn’t he?
RPP?
Professional cusser causer.
by T is for Truculence on Dec 1, 2010 8:18 AM EST up reply actions
CCC – “Cable Company Clowns”
Yesterday is dead, but not my memory.
by daoust on Dec 1, 2010 9:06 AM EST up reply actions 3 recs
Julian Sanchez?
/Cox’d
My blog and Twitter, featuring coverage of the most unpredictable team in the NHL and where we defend Mike Green, Alex Ovechkin, and Alexander Semin until the bitter end. That is to say, when someone tries to call BS on the Corsi numbers.
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"Numbers don't lie, they just don't agree with you"--George E. Ays
by red army line on Dec 1, 2010 10:55 AM EST up reply actions
(that is your name, right?)
My blog and Twitter, featuring coverage of the most unpredictable team in the NHL and where we defend Mike Green, Alex Ovechkin, and Alexander Semin until the bitter end. That is to say, when someone tries to call BS on the Corsi numbers.
If you don't know how to use Timeonice, read this.
"Numbers don't lie, they just don't agree with you"--George E. Ays
by red army line on Dec 1, 2010 10:56 AM EST up reply actions
Ha!
yes.
Pension Plan Puppets: A Toronto Maple Leafs blog and a group therapy session.
Like reading thoughts confined to 140 characters? I'm on Twitter too.
by PPP on Dec 1, 2010 5:27 PM EST up reply actions
DAMMIT
I JUST mentioned that below. I need to read stuff before posting.
"Tell Sigmund Freud not to worry about his mother, I took good care of her last night. BOOYAH."
Certified Grabbo lover
Someone at NM
Suggested Cell Phone Plan Puppets
"Playin hurt, baby that don't faze me. I don't got time for pain. The only pain I've got time for is the pain I put on fools who don't know what time it is!"
Huh.
Wonder what Rogers thinks of the work Burke is doing?
Oh, you better believe that's a paddling.
I guess we wouldn’t have the richest owners in the league anymore.
Oh, you better believe that's a paddling.
Well not at first, if the leafs start winning, profits would explode
Rule #20
by JaredFromLondon on Dec 1, 2010 2:51 AM EST up reply actions
Step 1: Buy Maple Leafs
There are no other steps required. Step 1 = Profit.
by Death_By_Leafs on Dec 1, 2010 3:08 AM EST up reply actions
Because the TV rights would be extremely profitable if that team could ever manage to make a run?
Geaux Tigers!
by TheOtherAndrew on Dec 1, 2010 6:21 AM EST up reply actions
Monopoly
If they pull this off, they’ll go hard for the Argos, then they not only control all Toronto sports content but also the content distribution as well… toss every game onto their own channel as exclusive content and charge your firstborn for subscription.
If they get the Argos they would also probably have them start playing at BMO, TFC fans will love that…
i thought one reason they weren’t there already was that the field wasn’t big enough for the CFL.
"He should be wearing a Sens sweater" - describing someone acting less than sane or competent. Use it.
yeah I think the minimum capacity for CFL stadiums is 40,000. Taylor field here is 49,000. I think BMO seats somewhere in the 20K region.
Molson Stadium yeah, it’s McGill’s stadium actually, I think they got special permission from the league though since Olympic Stadium is so ghetto.
The field is not long enough. They’d need to move the stands and there’s nowhere to move them.
Pension Plan Puppets: A Toronto Maple Leafs blog and a group therapy session.
Like reading thoughts confined to 140 characters? I'm on Twitter too.
This. There is no 40000 seat minimum in the CFL… only three regular stadiums have that kind of capacity (BC Place, Commonwealth, Skydome). Taylor Field is 30k, McMahon is 36k, Canad Inns is 30k, Ivor Wynne is 30k, and I doubt the new Ottawa one will have 40k… I can’t find a figure on that.
If there is an attendance requirement, it’s likely under 30k (Molson is 25k). Moncton’s stadium supposedly would be expanded to 25k if they were awarded a franchise, just for reference.
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Didn’t they cement around the field at BMO to specifically not have the Argos consider it home?
Die By The Blade - Where even we would rather watch the Bills.
by Zachary Zielonka on Dec 1, 2010 12:13 PM EST up reply actions
Yes
At the end of the day, it’s up to the City but TFC have made it clear that it’s happening over their dead body unless they meet stringent conditions.
Pension Plan Puppets: A Toronto Maple Leafs blog and a group therapy session.
Like reading thoughts confined to 140 characters? I'm on Twitter too.
by PPP on Dec 1, 2010 5:28 PM EST up reply actions
Why would they do that?
They own the Skydome er… Rogers centre. If anything they have a vested interest in keeping the Argo’s in the Rogers Centre
Kulemin, so hot right now, Kulemin.
Boom Posted!
by PassivelyTruculent on Dec 1, 2010 1:54 PM EST up reply actions
MLSE wants ONE BILLION DOLLARS
Rule #20
by JaredFromLondon on Dec 1, 2010 6:58 AM EST reply actions 6 recs
Hahahaha…I wonder what Mike Myers thinks of this?
Professional cusser causer.
by T is for Truculence on Dec 1, 2010 8:20 AM EST up reply actions
I kind of like this, with the amount of money I pay rogers every month, I will basically be a part owner.
Actually, it’s more like you paying to Rogers enough money every month to buy a ticket to a Leaf’s game but you still don’t get to go, and you’ll probably have to pay extra to get the channel itself to see the Leafs game.
yeah, yeah, but the most important issue:
if the OTPP sells, will we have to change the site name?
"Tell Sigmund Freud not to worry about his mother, I took good care of her last night. BOOYAH."
Certified Grabbo lover
According to the Post, Teachers has also been in talks with BCE.
BCE vs. Rogers. I guess it was inevitable.
"That’s why stats are so important – anecdotal evidence just doesn’t cut it when you’re talking about history." - Bower Power
Is it weird that this comes out basically at the same time as that Final Jeopardy clue from last night?
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Broad Street Hockey - SBN's Philadelphia Flyers blog. 2010 Eastern Conference Champions.
That is a hilarious coincidence… or is it???
"That’s why stats are so important – anecdotal evidence just doesn’t cut it when you’re talking about history." - Bower Power
by The '67 Sound on Dec 1, 2010 9:58 AM EST up reply actions
what was the clue?
"He should be wearing a Sens sweater" - describing someone acting less than sane or competent. Use it.
Something like “which team is owned by the Ontario Teachers Pension Plan”
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Broad Street Hockey - SBN's Philadelphia Flyers blog. 2010 Eastern Conference Champions.
by Travis Hughes on Dec 1, 2010 10:06 AM EST up reply actions
did anyone get it right?
"He should be wearing a Sens sweater" - describing someone acting less than sane or competent. Use it.
Yeah, but the girl who was winning got it wrong and lost because of it.
Visit the BSH Store :: Get us on Twitter :: facebook, too!
Broad Street Hockey - SBN's Philadelphia Flyers blog. 2010 Eastern Conference Champions.
by Travis Hughes on Dec 1, 2010 10:11 AM EST up reply actions
Just like the leafs huh? Winning and then lose the game due to a brainfart move
by hockeyphreak on Dec 1, 2010 10:20 AM EST via mobile up reply actions
Re: Rogers
I’d just like to say I’d be thrilled if the company that gave me shitty video stores, “Sportsnet One”, the worst cell phone commercials on the planet, a school of management above a Crappy Tire, and a “hockey experts” panel comprised of Nick Kypreos, Bill Watters, and That Idiot Doug Maclean could bring their proven record of winning and competence to the ownership of my hockey team.
My degree is worthless
by Godd Till on Dec 1, 2010 10:47 AM EST reply actions 1 recs
so your saying we should appreciate what we have right now? it could be alot worse…
There is no "I" in team, but there is an "M" and an "E"
by Matt_Roberts on Dec 1, 2010 11:38 AM EST up reply actions
I think it's clear now that I can read the future...
…or am the only one that listens to Howard Berger on Blue and White Tonight.
…after serious thought it’s probably the Berger thing.
by Bloge Salming on Dec 1, 2010 11:31 AM EST up reply actions
Oh God….this may mean more Leaf games on Sportsnet. I should just commit ritual suicide right now.
Not Liking Nikolai Kulemin Means You Have No Soul
This X infinity.
"Success consists of going from failure to failure without loss of enthusiasm."
Winston Churchill
by Say *plan the parade one more time*... on Dec 1, 2010 7:25 PM EST up reply actions
I think the worst part of all of this....
Knowing Rogers, they would have a bunch of games that are only available on Rogers Cable, they do it with the Jays and their stupid Rogers preview channel, I assume it would be the same way with the Leafs.
As someone who chooses specifically not to have Rogers Cable because they are a bunch of crooks, I am depressed by this.
This also changes things for a Winter/Heritage Classic when we finally get one. If they can get the skydome open they would probably have to seriously consider that as a venue.
WE MUST CHANGE THE NAME!!!!!
I think that mrrogersneighbourhood.com sounds good. Unfortunately some wack realty agent has that domain name… so mrrogerspuppets.com sounds good enough to me.
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