00:00We end with a potential sports business shake-up north of the border in Toronto.
00:03Joining us is resident hockey expert Scarlett Foo.
00:07Scarlett, what are the details?
00:08According to TD Securities, Rogers Communications could sell a chunk of its Canadian sports portfolio to help pay down debt.
00:14But this will be a multi-step process because Rogers currently owns 75% in Maple Leaf Sports and Entertainment,
00:20which owns the Maple Leafs, the Toronto Raptors, and Toronto FC.
00:24It also owns 100% of the Toronto Blue Jays.
00:27So according to TD, Rogers would buy the remaining 25% for $4 billion Canadian,
00:33combine it with its stake in the Blue Jays and Sportsnet TV channel,
00:38and then turn around and monetize that by paying down debt by selling 30% to private investors.
00:44I've got to imagine they could get a pretty penny for that.
00:46I mean, sports investing valuations just continue to go up into the right.
00:49Absolutely.
00:50And Toronto is, of course, North America's fourth biggest city.
00:52It's got a pretty lucrative and dedicated fan base.
00:55And we've seen how MSG Sports has tried to do something similar.
00:59There's a pretty big gap between public and private valuations,
01:02which is hopefully narrowing a bit, at least in Rogers' case.
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