Rogers Communications, which purchased an 80 percent stake in the Toronto Blue Jays in 2000, is considering selling some of its share of the team and its stadium, the Rogers Centre, according to multiple reports.
Tony Staffieri, Rogers’ former chief financial officer who became the company’s interim chief executive last week, has been outspoken about his plans to pay down the company’s debt. The team and its stadium are worth an estimated $2 billion.
Rogers executives have frequently discussed selling all or part of the Blue Jays in recent years. Among the company’s options: selling a minority stake in the team, spinning off the team or raising money by selling “tracking shares,” a specialized equity offering used by the Atlanta Braves.
In addition to the Blue Jays, Rogers owns a 37.5 percent stake in the parent company of the Raptors, Maple Leafs, Argos and Toronto FC.
Reports said company chairman Edward Rogers is interested in staying with the Blue Jays as a potential buyer.
–Field Level Media