Maple Leaf Sports & Entertainment (MLSE) has agreed to buy the Toronto Argonauts Football Club of the Canadian Football League. No financial terms were released for the deal, which is expected to close in January. The sellers are Bell Canada and the Kilmer Group, a family office led by billionaire investor Larry Tanenbaum. Bell and Kilmer acquired the Argonauts in 2015 from sports entrepreneur David Braley. MLSE, a Toronto-based sports and entertainment company chaired by Tanenbaum, said the deal will lend financial scale and operational synergies to the club. Founded in 1873, the Argonauts won the 105th Grey Cup in November.
Maple Leaf Sports & Entertainment to acquire Grey Cup Champion Toronto Argonauts
TORONTO, Dec. 13, 2017 /CNW/ – Maple Leaf Sports & Entertainment (MLSE) today announced an agreement to acquire the Toronto Argonauts Football Club of the Canadian Football League (CFL).
Crowned CFL champions at the 105th Grey Cup on November 26, the Argos are currently jointly owned by Bell Canada and the Kilmer Group. Financial terms of the MLSE acquisition, expected to close in January 2018 pending approval by the CFL Board of Governors, were not disclosed.
Joining MLSE brings numerous advantages to the Argonauts, including financial scale and promotional, ticketing and other operational synergies. The Argos play at BMO Field at Toronto’s Exhibition Place, which is operated by MLSE and also serves as home to another MLSE team, Toronto FC of Major League Soccer (MLS).
“Under its current ownership, a transformed Argonauts football club enhanced its presence and fan base in Canada’s largest sports market and ultimately marched to the CFL Championship,” said Michael Friisdahl, President and CEO of MLSE. “We look forward to building on the Argos’ strong momentum as we welcome the team to the leading provider of sports and entertainment experiences in Canada.”
“Everyone at the Argos organization is proud to have delivered the Grey Cup to our fans in what was truly a game for the history books. It’s been an exciting time of renewal and accomplishment for the Double Blue and I speak on behalf of all of us at the organization when I say how excited we are to now be joining forces with MLSE, Canada’s top sports company,” said Michael Copeland, President & CEO of the Toronto Argonauts.
“On the heels of a stunning Grey Cup showdown with the Calgary Stampeders that highlighted the sheer excitement of Canadian football, we’re thrilled that the Argonauts will be joining the MLSE roster,” said Randy Ambrosie, Commissioner of the Canadian Football League. “We welcome MLSE to the CFL and look forward to working with them to further enhance the experience for Canadian football fans.”
Founded in 1873, the Toronto Argonauts are North America’s oldest continuously operated professional football club and the oldest pro sports team of any kind on the continent that still operates with its original name. The Argonauts have won the CFL championship game a record 17 times, most recently at the 105th Grey Cup earlier this year. The team was founded by the Argonaut Rowing Club, which owned the club for its first 83 years.
About Maple Leaf Sports & Entertainment
Maple Leaf Sports & Entertainment (MLSE) one of the world’s premier sports and entertainment companies, owns the Toronto Maple Leafs (NHL), Toronto Raptors (NBA), Toronto FC, Toronto Marlies (AHL), Raptors 905 (NBA G-League), and TFC II (USL). It also owns Air Canada Centre, Maple Leaf Square, digital channels – Leafs Nation Network and NBA TV Canada and has a partnership with Live Nation – the biggest concert promoter in the world. MLSE has also invested in and operates five of Toronto’s sports facilities – Ricoh Coliseum, BMO Field, Kia Training Grounds at Downsview Park, home of Toronto FC’s Academy and the First Team’s practice facility, BioSteel Centre, the Toronto Raptors’ training facility and the MasterCard Centre for Hockey Excellence, the practice facility for the Maple Leafs and Marlies.
For further information: Media inquiries: Dave Haggith, MLSE, email@example.com, 416-450-1681; Jamie Dykstra, Toronto Argonauts Football Club, firstname.lastname@example.org, 647-400-6235
Photo courtesy of Reuters/Mark Blinch