Larry Tanenbaum, chairman of Maple Leaf Sports & Entertainment speaks as the Toronto Argonauts host a rally to celebrate their Grey Cup win in downtown Toronto, Thursday, Nov. 23, 2022. The OMERS pension plan has acquired a five per cent indirect stake in Maple Leaf Sports & Entertainment for US$400 million through a 20 per cent direct stake in Kilmer Sports Inc., which is owned by Tanenbaum.THE CANADIAN PRESS/Cole Burston
TORONTO – The OMERS pension plan has acquired a five per cent indirect stake in Maple Leaf Sports & Entertainment for US$400 million.
The investment comes through a 20 per cent direct stake in Kilmer Sports Inc., which is owned by MLSE chairman Larry Tanenbaum.
Kilmer owns 25 per cent of MLSE, the parent company of the National Hockey League’s Toronto Maple Leafs, National Basketball Association’s Toronto Raptors, Toronto FC of Major League Soccer, the Canadian Football League’s Toronto Argonauts and several development teams.
Upon closing, Tanenbaum will retain an 80 per cent stake in Kilmer.
OMERS will be a financial investor and will not participate in operational decisions of MLSE or any of its teams, the release said.
This report by The Canadian Press was first published Nov. 6, 2023.
