Maple Leafs, Raptors sold in $1.3B deal

TORONTO, Dec. 9 (UPI) -- The NHL's Toronto Maple Leafs and the NBA's Toronto Raptors have been sold to communications companies Rogers and Bell Canada, the companies said Friday.

The companies, generally competitors, said Friday they had purchased the bulk of the nearly 80 percent stake in Maple Leaf Sports and Entertainment owned by the Ontario Teachers' Pension Plan in a deal worth $1.32 billion.

In addition to the NHL and NBA teams, the agreement includes the Air Canada Center, the Toronto Marlies of the American Hockey League and Toronto FC of Major League Soccer.

Rogers Communications owns the Toronto Blue Jays and the Rogers Center as well as the SportsNet media brand in Canada. Bell Canada is an established communications company that owns, among other interests, sports networks TSN Canada and RDS.

Rogers and Bell Canada will each own 37.5 percent of MLSE. Toronto businessman Larry Tanenbaum, owner of Kilmer Sports, will raise his stake to 25 percent.

The deal is expected to close by the middle of next year, pending league and regulatory approvals.