Maple Leafs’ Parent Company MLSE Now Worth $8 Billion US After OMERS Purchases 5% Indirect State from Larry Tanenbaum’s Kilmer Sports
The parent company MLSE is now valued at $8 billion after OMERS bought an indirect 5% stake in Kilmer Sports from Larry Tanenbaumand
Reports of OMERS’ interest in Tannenbaumand’s Kilmer Sports #039; first appeared in the summer.
OMERS will acquire a five percent indirect stake in Maple Leaf Sports and Entertainment as part of an agreement with MLSE President Larry Tanenbaum.
Tanenbaum announced that he is selling 20 percent of his company, Kilmer Sports Inc. to the OMERS pension plan, which serves 540,000 Ontario municipal employees. for $400 million, giving the company an indirect 5 percent stake in the Toronto Maple Leafsand parent company.
“As owner of MLSE, I have always considered myself a steward of the public trust, working with fans and the public to build and win championships for Canada’s most famous sports teams,” Tanenbaum said in a statement Monday. “Now with this investment from OMERS, I am pleased to share that public trust with more than 600,000 hard-working Ontarians. Today is a good day for MLSE’s future.
Kilmer Sports Inc. by Tanenbaumand#039; owns 25 percent of MLSE, and Bell and Rogers Communications each own 37.5 percent.
Sportico first reported OMERS’ interest in Tanenbaumand#039’s stock on June 21.
MLSE consists of a group of sports properties that include the Toronto Maple Leafs, Toronto Raptors of the NBA, Toronto FC of the MLS and Toronto Argonauts of the CFL and their sites. The deal gives MLSE a total value of $8 billion.
