Rogers Communications Inc. has announced that it will be acquiring a majority stake in the Toronto Blue Jays, which is expected to be finalized in 2022.
Rogers Communications Inc. has announced that it will be acquiring a majority stake in the Toronto Blue Jays, which is expected to be finalized in 2022. The deal was first announced by Rogers CEO Joe Natale on October 25th, with Rogers set to pay $5 billion for an 80% stake in the baseball team. It’s expected that Rogers will become the sole owner of the team once its deal with current owner Edward Rogers III is finalized.
The deal was first announced by Rogers CEO Joe Natale on October 25th, with Rogers set to pay $5 billion for an 80% stake in the baseball team. It’s expected that Rogers will become the sole owner of the team once its deal with current owner Edward Rogers III is finalized.
Why did Edward sell his shares?
In late 2020, Edward and his sister Melinda were named as two of Canada’s richest people by Canadian Business magazine, with a net worth of $4 billion each.
“I don’t think there’s any particular reason,” said Edward when asked why he decided to sell his shares now.
“I’ve been thinking about it for some time,” he added.
“It’s been very successful and I’m happy we’ve been able to put together this transaction.”
