Through a 20% direct ownership in Kilmer Sports, held by MLSE Chair Larry Tanenbaum, the Ontario Municipal Employees Retirement System has acquired a 5% indirect stake in Maple Leaf Sports & Entertainment Ltd. for C$546.8 million ($400 million).
The sale puts the sports and commercial real estate business, which owns many Canadian sports teams, at $8 billion, over five times the $1.32-billion ($1.29 billion) 2012 appraisal from the Ontario Teachers’ Pension Plan, which sold its 79.53% ownership in MLSE.
Along with a few other minor league professional teams, the business owns the Toronto Maple Leafs of the National Hockey League, the Toronto Raptors of the National Basketball Association, the Toronto FC of Major League Soccer, and the Toronto Argonauts of the Canadian Football League.
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