The rumor mill is currently suggesting that Lawrence Tanenbaum, whom is Chairman of Maple Leaf Sports & Entertainment and owns 25% of the entity through his holding company Kilmer Sports, is presently in discussions with Rogers Communications (TSX: RCI.B) to sell his interest in MLSE.

The rumor follows Rogers acquiring BCE Inc’s (TSX: BCE) 37.5% stake in the entity in September for $4.7 billion. That sale by BCE brought Rogers ownership in the entity, which owns the Toronto Maple Leafs and the Toronto Raptors, to 75%, with the remainder owned by Kilmer Sports.

Kilmer, for its part, is 80% owned by Tanenbaum, while the remainder is 20% owned by OMERS, whom last November acquired a 20% stake in Kilmer for a 5% indirect stake in MLSE for US$400 million.

At the same time, Tim Leiweke, former president/CEO of Maple Leaf Sports and Entertainment is working on a $280 million renovation at Hamilton’s FirstOntario Centre, which earlier this year he said was would hopefully bring an AHL team back to Hamilton. The arena is notably full-sized, and earlier this year he said he does not want to compete with the MLSE – but that was prior to ownership changes.

The renovation is expected to be completed in November 2025, with major events said to be already booked following its completion. Renovations are said to include enhanced acoustics, improved sight lines, expanded concessions, and premium seating options. It should also be stated that with a seating capacity of 19,000, it would be the second largest capacity arena for an AHL team in the league, behind Calgary’s Scotiabank Saddledome arena, which is also home to the NHL’s Calgary Flames.

Speculation meanwhile has begun however that as part of the deal to sell its MLSE stake, Tanenbaum is negotiating for MLSE to waive their territorial rights to Hamilton.

Is southern Ontario going to get another major sports franchise?

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