Maple Leaf Sports and Entertainment, which owns among other properties the NHL's Toronto Maple Leafs, the NBA's Toronto Raptors, and Toronto FC of MLS, is up for sale, according to a report in Montreal's
La Presse on Saturday.
According to the report from the paper, the Ontario Teachers' Pension Plan, which owns 66 per cent of MLSE, has hired investment bank Morgan Stanley to find investors interested in buying their shares.
La Presse, citing an unnamed source, says the Ontario Teachers' Pension Plan is asking $1.3 billion for its shares.
If completed, the sale would be the largest in Canadian sports history.
When contacted Saturday by CBC
Hockey Night in Canada's Scott Morrison, MLSE president and CEO Richard Peddie offered no comment.
Just last December, reports surfaced that telecommunications giant Rogers Communications was making overtures to buy the Ontario Teachers' shares for $1.3 billion.
Along with the Leafs, Raptors, and Toronto FC, MLSE also owns the AHL's Toronto Marlies, television networks Leafs TV and Raptors TV, the Air Canada Centre, Ricoh Coliseum and BMO Field.
As well as being a telephone, internet, and cable giant, Rogers already owns Canadian sports channel Sportsnet, the Toronto Blue Jays, and the Rogers Centre.
Real estate magnate Larry Tanenbaum, who owns 20.5 per cent of MLSE, and TD Capital, who owns 13.5 per cent, will each have first refusal on any proposed sale of the Teachers' shares.
If the report is true, it means that the NHL has given the go-ahead for the Ontario Teachers to sell their shares. Since 2007, the league has to approve before any future buyers take a look at a franchise's books.