professional sports commercial real estate company based toronto ontario canada assets include franchises major professional sports leagues united_states canada largest sports entertainment company canada largest north_america primary holdings company major sports franchises toronto national_basketball_association toronto minor league farm teams nba league toronto respectively addition owns home arena manages invested sports facilities including home toronto beginning home centre practice facility practice facility scheduled open training ground practice facility toronto toronto home stadium founded maple leaf gardens limited act holding company planned new arena maple leaf gardens company got transferred ownership company exchange shares sold shares holding company public help fund construction arena initially primarily hockey company ownership stakes number minor junior hockey clubs including company later branched hamilton tiger cats late 1970s late 1980s merging constructing time adopting current recently company launched toronto plus years existence public company following death majority owner led controversial bid buy company private recently sold share company billion joint venture canada largest media companies giving company equity value billion enterprise value billion figures canadian dollars specified company proven profitable success producing winning teams major franchises currently maple toronto won championship stanley cup corporate history founding corporation roots traced organized group investors purchase toronto premier hockey franchise won stanley cup championships toronto arenas group headed club playing poorly minority partner contacted coach team told interested buying stake team long team trouble financially majority owner having lost lawsuit owner sale agreed principle sell group team philadelphia contacted inform sale persuaded civic pride important money syndicate bought invested money group contributed days later retaining share team deal finalized valentine day new owners quickly renamed team later year bought junior hockey toronto serve developmental team maple decided midst great depression needed new arena home arena gardens shared built seated regularly filling considering locations site corner purchased price said market value new seat including standing room arena designed architectural firm ross finance construction got backing half expected million cost launched maple leaf gardens limited management company new arena named maple leaf gardens public offering shares dollars free common share preferred shares purchased ownership hockey team transferred return shares fund construction building workers paid salary stock construction started june opened months weeks later november cost million million dollars moved new arena help fill dates new arena acquired expansion franchise professional behalf season given team named competed season ill arena gardens renamed arrival team teams played pulled following season financial losses league play following year minor hockey expansion company owned numerous minor league hockey teams years served developmental farm teams group backed montreal awarded franchise rochester new_york july local group come usd capital required league team balance sold rochester interests team named rochester americans joint affiliate club operated summer bought ownership share club giving controlling interest concerns montreal operating club giving prospects priority purchased remaining ownership share november july maple sold team group included general manager reported june western hockey league franchise purchased group led relocated act leaf farm team league acknowledge ownership stake team held majority position denver partners owning roughly following reported losses season announced team relocated team failed reach season ticket target league imposed deadline team following season june sold team group phoenix relocated central professional hockey league launched team owned operated developmental club spring announced relocate prior season decided share affiliate attempt reduce costs pulled new hawks established jointly operated farm team owned half franchise decided needed team spokesperson citing limited number roster spots rationale old established ownership team averaged fans lost season folded following spring shortly chicago having pulled new_brunswick favour springfield indians relocated new hawks ontario establish farm team team played stops ontario newfoundland maple team moved toronto named company junior team playing toronto served junior farm team years direct sponsorship junior clubs ended entry draft universal october team losing hundreds thousands dollars year reached agreement sell reported ties retained rights team moved hamilton season hamilton growth hockey entered negotiations purchase financially struggling baseball team minor asking price deal ultimately fell apart concerns team stadium maple leaf stadium needed repairs owner wanted million purchase team sold relocated following season owner said company interest help position major_league_baseball mlb franchise toronto early announced plans build new baseball stadium toronto city ultimately decided exhibition stadium suitable baseball time group led vice president executive bidding team including competing groups led president canadian baseball led negotiating owners baltimore_orioles chicago_white_sox cleveland indians attempt acquire team toronto offered million san_francisco_giants team owner decided early sell club group million usd giant relocation ultimately rejected court awarded expansion team american_league million usd later year team named competed inaugural season professional box league owners founding partners club financial difficulties forced ownership midway season suspended operations prior following season early 1970s announced plans apply second toronto based team addition play varsity stadium proposal went partner sale million expressed interest buying team ultimately sold shortly tried buy hamilton tiger cats owner offer rejected money losing seasons later february sold team million tenure owner repeatedly threatened franchise toronto varsity stadium vetoed claimed lost roughly million seasons sold team march coach canada men national basketball team working pursued number existing national_basketball_association nba teams relocate toronto play 1970s tentative agreement purchase plan merge single toronto based team deal fell later held negotiations seeking million franchise pulled price raised million attempted purchase relocate played number regular season games years toronto million times later owners eventually chose team san_diego toronto awarded expansion nba franchise season groups bid rights team club group able secure funding expansion fee million attempted purchase relocate houston rockets seeking million team team lease ultimately prevented relocation attempted buy atlanta hawks toronto group included pushed expansion franchise lost dallas toronto group included son basketball hall chamberlain submitted application usd deposit nba expansion franchise cities apply toronto successful nba awarded expansion franchise group led future minority partner partnered toronto joined nba season city nba team merger reported negotiations purchase team suspended following inaugural season playing club lost nearly million league forced operations games ownership pulled team returned play following inaugural season hamilton ontario based ontario raiders lost playing owner forced look partners engaged negotiations purchase team play group included assistant general manager ultimately bought team promptly moved team toronto rock held negotiations acquiring million usd expansion franchise following season coincide opening company submitted application franchise rejected league concerns readiness aging began planning new home arena 1990s time constructing new arena later called invited joint tenant reject offer arguing small took controlling ownership late talks began groups forward proposal city construct new million shared arena north rail tracks construction arena converted bus terminal proposal died agreement reached rent land november submitted new proposal million arena years negotiations purchased basketball club february paid reported million million team million arena president retained merger president ceo july company adopted new reflect broader holdings subsequently ordered major modifications original design basketball specific suitable hockey originally planned cost million budget increased million took control subsequently sold canada largest food retailer million condition sports entertainment facility eventually allowing small arena restored building house canadian radio television granted category digital specialty channel licenses launched september channels broadcast live games involving teams attempt increase competition rights drive fees paid broadcasters august announced relocate farm team newfoundland toronto play season arena left hockey tenant following termination lease affiliate rent agreed year lease undergone million renovation called rent cover debt financing charges property taxes generate return arena investors exceeds million annually announced april working wholly owned subsidiary developments build maple leaf square major entertainment complex situated million square feet complex completed mixed use facility features restaurant grocery store office space residences conjunction construction maple leaf square year million renovation connect square added new includes high definition broadcast studio external wall features foot video screen broadcasts games spectators gathered plaza arena launch toronto awarded expansion team toronto known toronto million usd company agreed contribute million construction toronto future home cost million total purchased naming rights stadium million years subsequently million years agreed cover construction cost governments canada ontario toronto contributed million million million respectively providing land return got management rights stadium years prior season spent million convert stadium natural grass million expand north end seats deal convert field natural grass spent million adding winter bubble stadium building new artificial turf field replace community use hours lost partnered bid host regular season national_football_league game toronto january announced rogers chairman reached agreement host annual regular season exhibition nfl games seasons toronto rogers centre beginning games branded time considering bringing nfl team toronto permanently building new stadium abandoned idea concluded project generate sufficient financial return justify significant cost project subsequently president said nfl team toronto team nfl rules expertise build play role reported interested building managing proposed nfl stadium begun designing minority owner board member partnered musician purchase nfl team following death bills owner group submitted offer purchase franchise speculation team toronto lease permitted company contemplated purchasing twice minority partner keen add team list franchises concluded cost effort required team profitable worth minimal financial upside reported company considering purchasing team having play renovated asking price reportedly million later coming million vote board purchasing team called december unable come agreement issue announced ownership partners acquired ownership deal close end year team season speculated rogers interested investing team bell exclusive rights broadcast games thought control enhance toronto chances acquiring nfl franchise saying nfl telling want nfl team better sure okay said moving renovated field help turn way nfl comes successful nearby city built new arena known chosen manage building disappointing results year half operations following arena opening november led request contract terminated march company attempting business managing facilities teams play decided withdraw vice president venues entertainment saying managing arena longer strategic focus recent projects launched academy youth system develop soccer players toronto taking advantage new player rule allows clubs retain rights players develop subject senior academy team originally competed canadian soccer league pulling early losing team played year joining season november announced establishment toronto minor league professional soccer team play serve reserve team bridge academy team began play newly renovated seat stadium plans expand constructed north toronto march park selected site toronto new state art academy training facility construction began training ground facility opened june includes grass fields turf field field house spent million building facility pays rent land july announced expand training grounds house practice facility rent facility practice nearby city owned field team moved september president general manager said considering launching franchise toronto area couple years serve developmental team hamilton reportedly consideration host franchise canadian based franchise posed difficulties tax complications rochester new_york united_states border considered alternative announced purchased franchise named begin play fall centre suburb toronto franchise reportedly cost million announced january acquire interest digital cable soccer channel held owner channel operated localized version owned remaining focus toronto informed acquired ownership channel later year announced cease operations license abandoned effective august november applied category digital license general interest sports service named granted june planned broadcast teams games channel lines team owned regional sports networks united_states tentative real sports keeping branding sports bar store revealed channel replaced supplemented existing digital channels credited threat channel rogers bell owners sports channels respectively purchase company concerns losing rights broadcast teams channel having pay huge fees acquisition rogers bell associated agreements divide company regional broadcast rights eliminated need channel license expired year deadline launch passed september opened new hockey practice facility arena joint venture replace nearby lions arena built cost million cost drove cost million contributed million project city providing million loan guarantee leased land arena year term spent million training medical facilities pays annually rent building arena originally operated june arena verge rising debt took control assumed million debt intention return private management years city councillor suggested operates behalf city logical party arena spokesperson company said don interest purchasing facility open discussing possibility managing facility behalf city executive vice president venues entertainment confirmed bid right run building point contemplated purchasing concerns viability baseball venue team resulted company pursuing company considered investing english soccer club request takeover majority reported talks buy team company later denied planned purchase club reports emerged investigating taking bankrupt italy retired president ceo end years job having value company criticized inability end company long championship drought major franchises company currently owns toronto won championship stanley cup major championship won grey cup briefly took president replaced june high profile executive previously run august announced stepping remain position successor appointed announced october hired successor president ceo officially assume duties december financial success toronto led undertake major renovation phase process stadium capacity increased canopy roof covering permanent seating areas added pitch lengthened accommodate canadian football field renovations originally cost million ended million total exchange million contribution project owns stadium receive rent management naming rights agreements stadium set extended years province ontario contributed million financing city insisted renovations allow vacate current home rogers centre sale new ownership group consisting owners bell accompanied announcement reached agreement relocate stadium season contributed million conversion field compatible matched financed rest project responsible cost renovated stadium temporarily expanded capacity roughly big events purchase agreement called grey cups played stadium chosen host rugby games centennial classic august reached agreement build practice facility known pay entire million construction cost lease property city annually subject inflation year term options extend years following city ownership building construction scheduled completed time team hosting nba star game february february confirmed planning launching professional boxing series featuring major fights year promoted originally planned start light heavyweight title fight april delayed regulatory restrictions wrist ontario joined lewis promote light heavyweight title fight september timeline sports franchise ownership ownership face founding acquire majority ownership company following power struggle directors supported president wanted replaced help loan toronto support minority partner able buy shares installed president november replacing loan paid november sold shares person partnership formed son time owned toronto telegram million combined holdings gave shares representing company fronted money purchase loan obtained according sources thought sale son furious learned partners hoped son tommy unlikely raised millions needed deal president governor executive vice president chairman board march sold remaining shares resigned board directors boxing match scheduled found ali refusal serve vietnam war offensive said accepting fight owners cash ahead class years new owners profits million negotiated lucrative deals place advertising building greatly increased number seats arena following raid charged income tax accused illegally taking money pay renovations houses personal expenses charges laid argued board removed posts following vote board directors june fired appointed president force sell shares men remained board proved strategic largest single controlled half company stock able regain control board appointed president facing situation sold shares controlled september million buy partners combined jointly controlled shares transaction gave partnership stock convicted charges sentenced years federal died october bleeding age trial scheduled begin terms partner allowed buy shares death brother son tried shares family february bought shares million company million brother hugh sold shares ending family year involvement company combined shares gave majority ownership set family holding company named assets including shares estate freeze distributed common shares children bill receiving held trust wife receiving inherit death years later retained preferred shares equity company common stock common preferred shares received single vote ensuring retained control company getting financial difficulty reached agreement november time owned company cover debt financing charges loan million years exchange option purchase block shares right refusal rest shares learn deal late 1980s offered sell company million arena reportedly valued million report following year placed value million transferred ownership personal real estate holdings valued million january acquired newly issued common shares company plus promise cash sold stake father million january originally having deal sell stake sold million june year secured loan acquired shares security shares subsequently retired bill sued father million acquisition stake claiming partner acquired right refusal purchase shares million february shortly issued common shares exchange ownership personally held shares new common shares granted repay debt owed transactions company gave feared bill positioning holding company control want children inherit feared destroy ran significant amounts personal debt ownership company profitable known street referring address arena death april estate worth million left charitable organizations supermarket november exercised option company paying shares time valued million restrictions cross ownership company set trust hold stake league instructed sell shares adequate time shortly estate limited income owing million loan acquire stock missed january deadline repay million loan including interest personally loaned estate funds pay debt exchange received option purchase estate shares january bill challenged transaction approved court early offered buy estate shares september bill sold stock father estate million giving ownership entire company shortly announced reached deal option purchase shares april option estate shares founded march partners ontario teachers pension plan owned controlled remaining held ownership stake remaining owned teachers following month announced reached agreement purchase held estate share million total company million estate owned million time sold april million company purchased share reported million subsequently purchased remaining shares took private acquiring stock necessary force shareholders amalgamated purchase subject review allegations engaged insider trading failing disclose broadcast revenue expected substantially increase million lawsuit bill claimed withheld information relevant value company prior sale stock charged representing charities named argued conflict interest buyer paid market value public bidding process shares minority owners including held company objected attempts company private auction partners reached settlement pay additional million plus interest charities million minority shareholders sued clearing way majority owner settled million included fine costs teachers invested million million deal following merger ownership structure defunct retained majority owner holding company turn controlled minority shareholders remaining owned teachers ownership structure gave effective control net stake company teachers invested million company form bond finance purchase complete construction arena ontario teachers pension plan agreement reached company selling stake reported million debt partners converting debts equity partner getting direct ownership stake newly named dissolved left teachers controlling majority owners minority partners took non executive chairman owner right refusal shares sold proportion ownership share year internally valued billion teachers annual report toronto star reported commissioned company concluded company worth billion usd december renamed sold half stake million making second largest transaction valued company billion august teachers announced agreed purchase remaining stake owned stake bell rogers december reported owner negotiations purchase teachers stake asking price set billion march teachers confirmed share company sale right refusal shares gave control sale teachers announced reached agreement purchase ownership share giving company leaving minority partner sale shares november teachers announced taking company market couple weeks later december announced sale entire stake partnership deal valued billion giving company equity value billion enterprise value billion assumption share million debt million deal increased stake company valued million secure approval deal required approval canada canadian regards channels nba regards main sports franchises announced challenge transaction actively review situation light concerns expressed parties right action later date approved sale meeting las_vegas june final approval granted august commission noting jurisdiction channels owned transfer ownership bell rogers directly decided posed major concerns broadcast rights associated teams transaction closed august sale numbered companies created jointly hold stock following restructuring ownership hierarchy joint holding company rogers communications net ownership bell holding company net ownership investment fund bell pension plan net ownership holding company ownership structure ensures level rogers bell vote overall interest company decisions management company consensus rogers bell owned interests directly rogers bell overruled competitor combination rogers bell agreed previously directors board vote disagreements companies settled privately involvement bell indicated involvement bell pension fund intended ensure bell retain existing interest rules prevent owns team holding ownership position team result bell rogers having ownership regional broadcasts toronto games split bell rogers initiated corporate restructuring plan transfer assets holding company named maple leaf sports entertainment partnership wholly owned directly indirectly assets sports teams valued billion usd 3rd toronto national_basketball_association valued million usd 14th valued million usd 5th american hockey league toronto note forbes estimates based numbers provided facilities properties owns multi purpose indoor arena downtown toronto home constructed cost million maple leaf square real estate development adjacent developed partnership fellow subsidiary includes tenants following businesses operated sports themed restaurant sports clothing store restaurant corner york streets invested operates owned home toronto canadian men national soccer team home practice facility invested centre practice facility training ground practice facility toronto toronto home home television channels specialty channel devoted valued million behalf localized version basketball channel schedule specific coverage valued million behalf staff chairman bce guy rogers communications rogers communications rogers communications executive team president ceo president alternate governor toronto maple president general manager basketball operations bill manning president toronto
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