Maple Leaf Sports & Entertainment to buy Toronto Argos
Toronto-based Maple Leaf Sports & Entertainment has reached an agreement to acquire the Toronto Argonauts football team. The team is currently owned by Bell Canada and the Kilmer Group. The transaction remains subject to approval by the board of governors of the Canadian Football League. The deal is expected to close in January 2018.
The Argonauts play at BMO Field in Toronto, which is operated by Maple Leaf Sports & Entertainment. According to the company, the acquisition will allow for economies of scale with regard to promotional activities, ticketing and operations.
"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."