MLSE has franchises in four of the six major North American sports leagues. (CNW Group/Maple Leaf Sports & Entertainment Ltd.)

Canadian telecommunications heavyweight Rogers has signed an agreement to buy fellow Canadian telecoms company Bell's 37.5% ownership stake in the Toronto-based sports franchise owner Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion ($3.46 billion).

When the transaction closes, Rogers will be the largest owner of MLSE, with a controlling Interest of 75%. MLSE has franchises in four of the six major North American sports leagues, including the NHL’s Toronto Maples Leafs, the NBA’s Toronto Raptors, and Major League Soccer’s Toronto FC.

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The deal will provide former owner Bell with the opportunity to renew its existing long-term MLSE broadcast and sponsorship rights deals at fair market value.

This includes access to content rights for 50% of the Maple Leafs' regional games and 50% of the  Raptors' games for which MLSE controls the rights. 

The transaction is subject to league and regulatory approvals.

Tony Staffieri, president and chief executive of Rogers, said: “MLSE is one of the most prestigious sports and entertainment organizations in the world and we’re proud to expand our ownership of these coveted sports teams.

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“Live sports and entertainment are a critical part of our core business strategy. MLSE continues to appreciate significantly, and together with our sports and media assets, we plan to surface more value for shareholders long-term. This agreement also ensures long-term Canadian ownership and investment of these iconic teams.”

This agreement adds to Rogers' existing sports portfolio, which includes ownership of the Toronto Blue Jays, the Rogers Centre, and Sportsnet. The company also has strategic partnerships with the Vancouver Canucks, the Edmonton Oilers, the Calgary Flames, and the NHL.

Meanwhile, the Maple Leafs have also unveiled Oreo as the team's new helmet sponsor as part of a multi-year deal with parent company Mondelez International, the renowned confectionary firm.

The Oreo logo’s integration with the franchise’s helmets forms part of a comprehensive partnership that will see Oreo and Mondelēz Canada activating with the Maple Leafs digitally, within retail, and in-venue.

The new helmet will debut during the first pre-season game of the 2024-25 NHL season on September 22 at the Scotiabank Arena against the Ottawa Senators. 

The activation involves several fan engagement initiatives. 

Oreo replaces previous home helmet sponsor Canadian restaurant Pizza Pizza, which itself replaced the short-form video platform TikTok, which became the team’s first-ever helmet sponsor in 2021 when the NHL first allowed branding on helmets.