Rogers Communications Inc. holds one of the world’s ten most valuable sports empires , according to an annual report compiled by the United States business network CNBC .
The Toronto-based telecom giant ranked seventh place with an estimated value of US$14.5 billion.
The media conglomerate has a 75 per cent controlling stake in Maple Leaf Sports and Entertainment (MLSE), which owns the Toronto Maple Leafs, Toronto Raptors and Toronto FC, as well as the Scotiabank Arena in downtown Toronto. Rogers also owns the Toronto Blue Jays and the Sportsnet broadcast network .
In 2025, MLSE ranked 11th on CNBC’s list with an estimated value of US$10.2 billion. Rogers officially became MLSE’s majority owner on July 1 last year, after purchasing BCE Inc.’s 37.5 per cent ownership stake for $4.7 billion.
In April, chief executive Tony Staffieri said on a call with analysts that Rogers expects to acquire MLSE’s remaining 25 per cent minority stake later this year.
After that deal closes, Staffieri said Rogers plans to “combine our assets into one of the most significant sports ownership, media and entertainment entities globally” that it estimates will be worth $25 billion. Staffieri said Rogers plans to sell a minority stake in the new group to external investors.
“We plan to use the proceeds from the sale of this minority interest to pay down debt,” Staffieri said on the call.
A spokesperson for Rogers declined to comment on CNBC’s US$14.5 valuation.
CNBC said the total value of the 20 sports empires on its list is US$269 billion, up 20 per cent from last year. The order of the top five was unchanged, with some growing upward of 20 per cent in value.
Denver-based Kroenke Sports and Entertainment, which owns a massive portfolio of real estate, media assets and professional sports teams including the Colorado Avalanche, Denver Nuggets and Los Angeles Rams, retained the number one spot as its value spiked 23 per cent to US$26 billion.
The Jones family, whose portfolio includes the Dallas Cowboys, came in second place as their sports portfolio’s value grew 13 per cent to US$17.6 billion. Rounding out the top three was Harris Blitzer Sports and Entertainment, owner of the Philadelphia 76ers and New Jersey Devils, which grew 16 per cent to US$16.9 billion.
Appearing on CNBC’s Squawk Box on Friday morning, CNBC senior sports reporter Michael Ozanian said the minimum value needed to make this year’s list was US$9 billion, up from US$7.65 billion in 2025.
CNBC’s report also noted that NFL and NBA franchises have higher values compared to MLB, NHL and soccer teams, and that “sports portfolios that do not include NFL and NBA teams are less likely to appear among the top 20 empires.”
Ozanian said some team owners, such as the Miami Dolphins’ principal owner Stephen Ross, are selling limited partnership stakes and then “pumping the money back in” to their empires.
Big league franchises aren’t the only ones gaining value. Ozanian said owners are also branching out and investing in women’s hockey and basketball, auto racing and the for-profit commercial PGA Tour Enterprises.
He said owning multiple teams gives owners “great scale” when it comes to things like marketing and cross-selling sponsorships.
“Rogers, I think, is going to be the interesting one,” said Ozanian. “They control the Toronto sports franchises, and they also own Sportsnet, which is the largest Canadian broadcaster .”
• Email: jswitzer@postmedia.com