Sign in with your NHL account:
  • Submit
  • Or
  • Sign in with Google
 
SHARE

Teachers' Pension Plan boosts its stake in owner of Leafs, Raptors

Thursday, 08.20.2009 / 4:08 PM / News

The Canadian Press

TORONTO - The Teachers' Pension Plan is boosting its stake in the parent company of Toronto's Maple Leafs and Raptors.

The investment wing of the big pension fund plans to buy a 7.7 per cent stake in Maple Leaf Sports & Entertainment, which will give it 66 per cent of the company that also owns the Toronto FC soccer club and the Air Canada Centre.

Financial details were not disclosed.

The stake is being sold by media empire CTVglobemedia.

CTVglobemedia says the time is right for it to sell the stake and use it to pay down debt.

The deal needs approval from the professional sports leagues involved.

Quote of the Day

I don't know how he does it. I don't know how he gets his body parallel with the player and pulls it through his legs like that. I know he's tried it a couple times in practice and it's never worked, so how he does it in a game, it's incredible.

— Capitals defenseman Mike Green on teammate Alex Ovechkin's highlight-reel goal against the Devils on Saturday