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Alashraf Islamic School 4 Notes Hudson College The Maple Leafs is one of six professional sports teams owned by Maple Leaf Sports & Entertainment (MLSE) in 2018 Forbes estimated the value of the club at US $1.45 billion making the Maple Leafs are the second most valuable franchise in the NHL after the New York Rangers. However MLSE has refuted past valuations made by Forbes Initially ownership of the club was held by the Arena Gardens of Toronto Limited; an ownership group fronted by Henry Pellatt that owned and managed Arena Gardens the club was named a permanent franchise in the League following its inaugural season with team manager Charles Querrie and the Arena Gardens treasurer Hubert Vearncombe as its owners the Arena Company owned the club until 1919 when litigations from Eddie Livingstone forced the company to declare bankruptcy Querrie brokered the sale of the Arena Garden's share to the owners of the amateur St Patricks Hockey Club. Maintaining his shares in the club Querrie fronted the new ownership group until 1927 when the club was put up for sale Toronto Varsity Blues coach Conn Smythe put together an ownership group and purchased the franchise for $160,000 in 1929 Smythe decided in the midst of the Great Depression that the Maple Leafs needed a new arena to finance it Smythe launched Maple Leaf Gardens Limited (MLGL) a publicly traded management company to own both the Maple Leafs and the new arena which was named Maple Leaf Gardens Smythe traded his stake in the Leafs for shares in MLGL and sold shares in the holding company to the public to help fund construction for the arena Although Smythe was the face of MLGL from its founding he did not gain controlling interest in the company until 1947. Smythe remained MLGL's principal owner until 1961 when he sold 90 percent of his shares to an ownership group consisting of Harold Ballard John Bassett and Stafford Smythe Ballard became majority owner in February 1972 shortly following the death of Stafford Smythe. Ballard was the principal owner of MLGL until his death in 1990 the company remained a publicly traded company until 1998 when an ownership group fronted by Steve Stavro privatized the company by acquiring more than the 90 percent of stock necessary to force objecting shareholders out While initially primarily a hockey company with ownership stakes in a number of junior hockey clubs including the Toronto Marlboros of the Ontario Hockey Association the company later branched out to own the Hamilton Tiger-Cats of the Canadian Football League from the late 1970s to late 1980s on February 12 1998 MLGL purchased the Toronto Raptors of the National Basketball Association who were constructing the then-Air Canada Centre After MLGL acquired the Raptors the company changed its name to MLSE the company's portfolio has since expanded to include the Toronto FC of Major League Soccer the Toronto Marlies of the AHL the Toronto Argonauts of the Canadian Football League and a 37.5 percent stake in Maple Leaf Square The present ownership structure emerged in 2012 after the Ontario Teachers' Pension Plan (the company's former principal owner) announced the sale of its 75 percent stake in MLSE to a consortium made up of Bell Canada and Rogers Communications in a deal valued at $1.32 billion as part of the sale two numbered companies were created to jointly hold stock This ownership structure ensures that at the shareholder level Rogers and Bell vote their overall 75 percent interest in the company together and thus decisions on the management of the company must be made by consensus between the two a portion of Bell's share in MLSE is owned by its pension fund in order to make Bell's share in MLSE under 30 percent This was done so that Bell could retain its existing 18 percent interest in the Montreal Canadiens; as NHL rules prevent any shareholder that owns more than 30 percent of a team from holding an ownership position in another the remaining 25 percent is owned by Larry Tanenbaum who is also the chairman of MLSE Ownership structure of Maple Leafs Sports & Entertainment. .

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