MLSE strikes understanding to buy Toronto Argos

Maple Leaf Sports Entertainment, that already owns a Maple Leafs, Marlies, Raptors and Toronto FC, is adding a CFL’s Argonauts to a portfolio.

MLSE announced Wednesday it has an agreement to buy a Grey Cup champions.

There was already some cross-ownership. The Argos are now owned by two-thirds of a MLSE triumvirate — authority Larry Tanenbaum’s holding company, a Kilmer Group, and Bell Canada.

In bringing a Argos entirely into a MLSE fold, Rogers Communications will strictly join a dual MLSE partners as partial of a CFL team’s ownership.

League capitulation expected

“Under a stream ownership, a remade Argonauts football bar extended a participation and fan bottom in Canada’s largest sports marketplace and eventually marched to a CFL championship,” MLSE boss and CEO Michael Friisdahl pronounced in a statement. “We demeanour brazen to building on a Argos’ clever movement as we acquire a organisation to a heading provider of sports and party practice in Canada.”

The sale is approaching to tighten in Jan 2018, according to MLSE.

Rogers owns a Blue Jays, a city’s other vital sports franchise, nonetheless there have been reports recently that a organisation might be accessible for a right price.

Rogers shot down that idea Wednesday when asked about since a change of seductiveness in a CFL team.

“As we have pronounced there are no skeleton to sell a Jays,” a Rogers mouthpiece said. “We continue to demeanour for a best approach to get credit for a implausible sports portfolio in a altogether association valuation.”

Approval from a CFL house of governors would not seem to be a problem.

“On a heels of a overwhelming Grey Cup showdown with a Calgary Stampeders that highlighted a perfect fad of Canadian football, we’re anxious that a Argonauts will be fasten a MLSE roster,” CFL commissioner Randy Ambrosie, pronounced in a statement. “We acquire MLSE to a CFL and demeanour brazen to operative with them to serve raise a knowledge for Canadian football fans.”

The Argos play during MLSE-operated BMO Field, home to a newly crowned MLS champion Toronto FC. While a lakefront track has some-more impression than a domed Rogers Centre, fans have taken a while to comfortable adult to it.

The Argos drew only 11,219 spectators to a Jun 30 home detriment to a B.C. Lions. But assemblage grew as Toronto mounted a playoff pull with a Eastern final opposite Saskatchewan sketch 24,929.

Rogers not concerned in 2015 sale

Bell and Tanenbaum bought a Argos from David Braley in May 2015 after scarcely a year of talks. Braley, who also owns a B.C. Lions, took control of a Argos in Feb 2010 from Toronto businessmen David Cynamon and Howard Sokolowski.

Rogers did not get concerned during a time of a 2015 sale, with conjecture that it was not meddlesome in a authorization since a CFL was tied to Bell, by a promote associate TSN.

Founded in 1873, a Toronto Argonauts are North America’s oldest invariably operated veteran football club.

The bar has had a ups and downs both on and off a field.

Cynamon and Sokolowski bought a organisation after a CFL took over a authorization in 2003 from New York businessman Sherwood Schwarz, who had turn a franchise’s ninth owners in 2000.

The organisation has had some star energy in a front office.

In 1991, Harry Ornest sole a Argonauts to a organisation spearheaded by L.A. Kings owners Bruce McNall, Wayne Gretzky and comedian/actor John Candy.

Article source: http://www.cbc.ca/sports/football/cfl/mlse-deal-buys-argos-1.4447366?cmp=rss