History
The corporation's roots were established in 1927, after Conn Smythe organized a group of investors to purchase Toronto's premier hockey franchise, which had earned Stanley Cup championships in 1918 (as the Toronto Arenas) and 1922 (as the Toronto St. Pats), and renamed it the Maple Leafs. In 1931, a corporate reorganization resulted in the formation of Maple Leaf Gardens Ltd. (MLGL; based at the arena of the same name), with the Maple Leafs hockey team as the leading subsidiary.
Supermarket tycoon Steve Stavro led a group to buy the Maple Leafs from the estate of the late Harold Ballard in 1991. Larry Tanenbaum became a partner in 1996 with a 20% stake in MLGL. MLGL purchased the Toronto Raptors and Air Canada Centre in 1998, at which time the company adopted its present name. Stavro sold his stake to CTVglobemedia in 2003, and the Ontario Teachers' Pension Plan assumed controlling interest based on equity under the new ownership structure, with Tanenbaum taking over as non-executive chairman. On December 5, 2008, CTVglobemedia sold half of its 15% stake to Tanenbaum, making Tanenbaum the second-largest stakeholder. Each owner of MLSE has first right of refusal on any shares sold.
In April 2008, the Toronto Star reported that in a valuation commissioned by the company, MLSE was reported to be worth $1.75 billion USD. It was also reported that MLSE was considering the purchase of an English Premier League soccer team.
It was announced on January 23, 2009, that MLSE will acquire Insight Sports' interest in GolTV, a Canadian digital cable channel devoted to soccer.
On August 20, 2009, Teachers' announced that it had agreed to purchase the remaining 7.7% stake in MLSE owned by CTVglobemedia.
On May 29, 2012, it was reported that MLSE were in talks to buy English association football (soccer) club Leeds United, after the Leeds United Supporters Trust put out a request for a takeover from majority shareholder Ken Bates. However, MLSE later denied that it was planning to purchase the club.
Read more about this topic: Maple Leaf Sports & Entertainment
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