MLSE to buy Toronto Argonauts
Maple Leaf Sports & Entertainment (MLSE) has announced that it will be acquiring the Toronto Argonauts, a leading club within the Canadian Football League (CFL).
Argonauts, currently owned by Bell Canada and the Kilmer Group, were crowned champions of the 105th Grey Cup just last month.
The purchase of the Argonauts will expand the company’s existing portfolio, with MLSE already owning both the Maple Leaf NHL team and Toronto FC.
“Under its current ownership, a transformed Argonauts football club enhanced its presence and fan base in Canada’s largest sports market and ultimately marched to the CFL Championship,” said Michael Friisdahl, President and CEO of MLSE.
“We look forward to building on the Argos’ strong momentum as we welcome the team to the leading provider of sports and entertainment experiences in Canada.”
Argonauts will also benefit from the deal, most significantly from the financial backing, promotional opportunities and other operational synergies that MLSE will provide to the club.
“Everyone at the Argos organization is proud to have delivered the Grey Cup to our fans in what was truly a game for the history books,” said Michael Copeland, President & CEO of the Toronto Argonauts.
“It’s been an exciting time of renewal and accomplishment for the Double Blue and I speak on behalf of all of us at the organization when I say how excited we are to now be joining forces with MLSE, Canada’s top sports company.”
The Argonauts have so far won the CFL championship a record 17 times, having been founded in 1873.