Report: Tanenbaum close to selling a share of MLSE holdings

Larry Tanenbaum - Maple Leafs Sports and Entertainment (@MLSEPR)

Published Jun 21, 2023 at 06:29 PM ET

Maple Leafs Sports & Entertainment chairman Larry Tanenbaum is close to selling a share of his MLSE holdings to pension plan OMERS at an enterprise value of more than $8 billion, according to Sportico's Scott Soshnick and Kurt Badenhausen.

It is unclear how much of his share that he is selling.

Tanenbaum currently owns 25 per cent of MLSE, which owns the Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts and Toronto FC, among multiple other assets.

Maple Leaf Sports & Entertainment chairman Larry Tanenbaum is close to selling a share of his MLSE holdings to pension plan OMERS at an enterprise value of more than $8 billion, my pal @soshnick reports.
Tanenbaum currently owns 25% of MLSE. Sale would need ok from NBA, NHL.
— Rick Westhead (@rwesthead) June 21, 2023

Soshnick and Badenhausen report the sale would need approval from the NHL and NBA.

OMERS, which stands for Ontario Municipal Employees Retirement System, is a pension plan for 540,000 Ontario municipal employees. According to Sportico, OMERS had $92 billion ($124 billion CAD) in assets at the end of 2022.