Rogers has released its first-quarter financial results and provided some interesting details on the company’s financial state, alongside its widely reported sports portfolio.
According to Sportico, the telecommunications giant provided an update on the 2025 purchase of Bell’s stake in Maple Leaf Sports & Entertainment (MLSE), which currently owns and operates the NHL’s Toronto Maple Leafs, the NBA’s Toronto Raptors, among others. This purchase increased Rogers’ stake to 75 per cent. Separately, Rogers also owns the MLB’s Toronto Blue Jays.
Rogers Communications CEO Tony Staffieri said on the Q1 2026 earnings call that the company expects to complete the purchase of the remaining 25% minority interest in MLSE, which is owned by Larry Tannenbaum, in the second half of this year
Now, for the largest piece of information revealed during the earnings call; Rogers is also planning on bringing in minority investors for these sports assets that Staffieri noted would have a value greater than C$25 billion.
If you wonder where they got this large valuation, Rogers CFO Glenn Brandt highlighted the recent US$3.9 billion (about C$5.3 billion) purchase of the San Diego Padres by José E. Feliciano and his wife Kwanza Jones, which should bump up the valuation of other teams. Brandt said that the company expects to complete the recapitalization of its sports and media group by late 2026 or early 2027 as it pursues minority investors.
According to Sportico, current valuations have the Raptors at US$4.66 billion (approx C$6.35 billion), with the Maple Leafs at US$4.25 billion (approx C$5.79 billion), and the Blue Jays at US$2.9 billion (approx. C$3.95 billion).
The news comes as the telecom giant cut capital spending by 30 per cent and as Rogers offers buyouts to half its employees. The company has also been under pressure from shareholders to pay down its long-term debt — the sale of a minority stake in Rogers’ sports venture is expected to help.
Header image credit: Rogers
Source: Sportico
