Blog Entry

Ontario Teachers' Pension Plan not selling Leafs

Posted on: November 25, 2011 8:55 pm
Edited on: November 25, 2011 9:03 pm
 

By Brian Stubits

Forget the story about an American investment group buying the Maple Leafs and having Wayne Gretzky join them. Forget about any group buying the Maple Leafs (and the other pieces of Maple Leafs Sports & Entertainment).

The Ontario Teachers' Pension Plan, which owns MLSE (includes the Leafs, AHL Marlines, MLS' Toronto FC and NBA's Raptors), has no plans of selling their majority stake in the company. Here is what was posted on the MLSE website on Friday.

It was confirmed this morning that Ontario Teachers’ Pension Plan (Teachers’) has decided to maintain its ownership stake in Maple Leaf Sports & Entertainment (MLSE). From the onset, we knew a change in ownership was not a foregone conclusion. Teachers’ said then they were exploring the possibility of a sale in response to unsolicited expressions of interest they had received.

Teachers’, along with Kilmer Sports, are great owners. They have always provided our teams with the resources needed to compete on the ice, on the court and on the pitch. MLSE has been operating ‘business as usual’ throughout this process and will continue to do so.

That's that. The Teachers were only being prudent and listening to the inquiries, but that's a pretty good investment they have and parting with it was going to require a really good deal, more than the company is worth. I get the impression that a lot of Leafs fans would prefer to have an owner that has a face, instead of a group, I'm not sure what difference it makes. That's why there is a president and GM on the team.

It just means that Gretzky nor an American group will be owning the Leafs any time soon. Part of me says that's a shame just from an entertainment standpoint.

For more hockey news, rumors and analysis, follow @EyeOnHockey and @BrianStubitsNHL on Twitter.

Comments

Since: Oct 10, 2006
Posted on: November 26, 2011 5:22 pm
 

Ontario Teachers' Pension Plan not selling Leafs

That's good for me. Those dudes are paying my pension. NO this hwole thing is about the Toronto fan base. They are cash cows when ti comes to hockey. Hell they were cash cows when it came to baseball before the players strike. NO team was hurt like Toronto was because of the strike. Baseball was still estabblishing itself. Toronto supports the Leafs, lose as they do... you can't really expect them to support losers in every sport can you?



Since: Jul 3, 2008
Posted on: November 26, 2011 4:15 pm
 

Ontario Teachers' Pension Plan not selling Leafs

I don't think you can blame the CAP for your troubled Leafs my friend... NOT arguing with what you wrote... just saying that your GMs had a major hand in what has been placed on the ice... and the price tags had little to do with that...


It's not like no one wants to play for Toronto...  you're not exactly the Coyotes you know...  and while you may be able to spend 3 times what other markets could spend... that's not what it's about...


It's about a level playing field...  that said, I think they should raise the Cap about 15 million... so we could watch you and NY over pay players and raise spending in the league so you (and NY) could complain some more about getting jobbed...


Hahahahaha   Get a GM that knows a hockey player or two and you'll be fine... Oh, wait, you just might have one... 


March of the Pens...  we'll send you Malkin... give me Kessel     
;     &nbs
p;




Since: Sep 21, 2006
Posted on: November 26, 2011 1:31 am
 

Ontario Teachers' Pension Plan not selling Leafs

Trust me, you don't want a pension fund owning the sports team you cheer for.  They are obligated by law to do one thing, that's maximize return for their beneficiaries.  If the Leafs were owned by an individual or a group of individuals there likely wouldn't be the hard salary cap system there is today in the NHL (probably some form of cap with luxury tax).  The Leafs are the Yankees of the NHL in terms of revenue streams and could easily spend double what the next team does on payroll and still be the most profitable team in the league.  The hard cap gave the pension fund the perfect excuse to limit payroll, while continuing to maximize revenue at every turn.  The pension fund actually supported the hard cap while an individual like George Steinbrenner almost single handedly kept a cap out of baseball to benefit his Yankees.

Go figure that Toronto teams get screwed both ways because of this.  The Blue Jays, who have to compete with the $200+ million payrolled Yankees, and the Leafs who are limited to spending what all the other teams in the league spend when they could easily double or triple them.
 


The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com