breaking news

MLSE Bids Due On April 25th

April 14th, 2011 | by torontosportsmedia

Multiple sources are telling me tonight that those wishing to get their hands on Ontario Teachers Pension Funds’ MLSE shares must have their bids in by April 25th. No one is willing to confirm (nor deny) the story this evening, at least not to me.

I am told that interested parties have been told to submit their best offer on April 25th.

Does this mean a sale is close or will even happen? No.

In talking to several industry sources tonight, the known list of bidders is said to be relatively small. Despite what Rogers Communications has said publicly, many expect them to at least play the role of interested observer. While Rogers focuses primarily on the content side these days, I am not sure owning the Toronto Maple Leafs, Toronto Raptors, TFC Soccer isn’t the best way to get your hands on premiere content in this country. Bell is the other name that has been mentioned by several industry executives. Could an unknown American party become “interested”? Time will tell.

Keep in mind that even while the bids are due and negotiations could ultimately land a new suitor for Teachers shares, that doesn’t necessarily mean the end as Larry Tanenbaum still, despite what Bill Watters says, has a right of first refusal on the transfer of any shares. So it is possible that a party not part of the bidding process could still end up with some portion of the franchise if a side deal were done with Tanenbaum.

I am told that what happens on the 25th could very well dictate how several things unfold this summer, namely, Bryan Colangelo’s contract, Jay Triano’s contract and even the Toronto Maple Leafs radio rights.

I am sure there will be more as we edge closer to the 25th.

TSM

@torontosportsmedia

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2 Comments

  1. mario says:

    This should prove to be a very interersting time in the next weeks and months to come…you can bet now with the two rival all sports radio and tv stations they will all try to get the scoop on who will come on top Rogers or Bell or someone else as the new owners…

    Listening to PTS on Thursdays program Healy and McCowan were joking around and Healy brings up the subject of the new sports radio station.
    Without mentioning it by name and McCowan brings up the subject of the other station (TSN) always trying to throw cool water any time he or anyone else brakes a story like the bond issue with the Coyotes or the probable move to Winipeg that Kipper and McLean talk about the other day and TSN emmediatly put out denials that this is happehing… like they are the only ones that can brake stories… that why I always have a hard time watching TSN thery are just so arrogant over there…and never say THEY themselves were wrong or giving anyone else credit…

  2. Pingback: MLSE accepting bids until April 25th?

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