Ontario Fund Is Near Deal to Invest in Toronto’s NBA, NHL Teams(Bloomberg) -- Ontario Municipal Employees Retirement System is nearing a deal to buy 20% of a holding company that owns a stake in Toronto’s professional hockey and basketball teams, according to people familiar with the matter. Most Read from BloombergThe Ontario pension fund plans to acquire a minority interest in a private holding company of Canadian businessman Larry Tanenbaum. That firm owns 25% of Maple Leaf Sports & Entertainment Ltd., which holds the Toronto Maple Leafs, Toronto Raptors and other assets. Sportico reported late Wednesday that the sides were near a deal that would value Maple Leaf Sports at more than $8 billion. In effect, the deal, if completed, would give the C$124 billion ($94 billion) Ontario fund a 5% indirect stake in Maple Leaf Sports.

Source: Forbes June 22, 2023 19:46 UTC