Report: Tanenbaum close to selling a share of MLSE holdings
Published
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.
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.