Larry T's Co bidding for WNBA team?

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Read on Twitter

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This also might explain Theresa Resch's amicable departure to take on something new here in TO. If this is true, then kudos for Larry for doing an end around the obstruction of his partners in MLSE

[Badonkadonk]

This is fantastic, not just because I think the league has momentum and the market can sustain a successful franchise, but also to shove it in Ed Rogers' stupid piggy shaped face.

[ForeverTFC]

Good for Larry. Toronto should be a market that could sustain a profitable WNBA franchise.

[Brinbe]

Yeah, just read this. Great news! Larry T has done so much for sports in this city.

Get fukt, MAGA Ed.

[ArthurVandelay]

Would this explain why Larry T sold some MLSE equity? Rolling the funds into WNBA team?

[Badonkadonk]

Would this explain why Larry T sold some MLSE equity? Rolling the funds into WNBA team?

I think that was mostly estate planning. I *really* hope he's laying a solid succession plan in place to help remain a fixture as the swing vote between Bell and Rogers.

I'm guessing for the WNBA team he's going to have partners and the fees associated with the franchise will be highly leveraged (debt/shares depending on how they structure).

[dagger]

Would this explain why Larry T sold some MLSE equity? Rolling the funds into WNBA team?

No, he didn't sell MLSE equity, he sold equity in the entity that owns MLSE equity and I think that was about estate planning.

It will be interesting to see if he gets a team while Scotiabank Arena is undergoing those monster renovations. They might need an alternate site for a couple of seasons

[WuTang_OG]

crazy if true, love this for teresa

[MavCarter]

Interesting that teresa left to head the franchise already. Maybe they're confident they'll get a team?

[ForeverTFC]

Would this explain why Larry T sold some MLSE equity? Rolling the funds into WNBA team?

I think that was mostly estate planning. I *really* hope he's laying a solid succession plan in place to help remain a fixture as the swing vote between Bell and Rogers.

I'm guessing for the WNBA team he's going to have partners and the fees associated with the franchise will be highly leveraged (debt/shares depending on how they structure).

Apparently Rogers and Bell have the ability to buy out his shares in '26. They'll buy out Kilmer Sports and become 50/50, nothing Larry T can do.

The only hope we have is that Masai's deal is very very long term. It's the only way to preserve what we have.

[dagger]

Would this explain why Larry T sold some MLSE equity? Rolling the funds into WNBA team?

I think that was mostly estate planning. I *really* hope he's laying a solid succession plan in place to help remain a fixture as the swing vote between Bell and Rogers.

I'm guessing for the WNBA team he's going to have partners and the fees associated with the franchise will be highly leveraged (debt/shares depending on how they structure).

His son Ken is a big wheel in Kilmer, head of its development arm, and hopefully shares Dad's love of sports and his civic-mindedness.

[dagger]

Would this explain why Larry T sold some MLSE equity? Rolling the funds into WNBA team?

I think that was mostly estate planning. I *really* hope he's laying a solid succession plan in place to help remain a fixture as the swing vote between Bell and Rogers.

I'm guessing for the WNBA team he's going to have partners and the fees associated with the franchise will be highly leveraged (debt/shares depending on how they structure).

His son Ken is a big wheel in Kilmer, head of its development arm, and hopefully shares Dad's love of sports and his civic-mindedness. Ken in turn has three sons, two of university age now, so hopefully the torch can be passed without ever passing through Ed Rogers' hands

[tecumseh18]

Great news. As one of those who was there (with my teenage daughter) at the sold-out exhibition game last summer, it's just hard to imagine that a WNBA team wouldn't be profitable here. Between the Steph-Sabrina shoot-out and a legit superstar (Caitlin Clark) coming into the league, the entire concept has momentum.

[DG88]

Hmm maybe this is what Teresa is going to do after leaving the Raptors. To run a WNBA franchise in Toronto.

[ForeverTFC]

Here is the details on Rorgers and Bell's ability to fully control the team in the not so distant future. Part of the reason Larry sold a part of Kilmer (and Rogers and Bell opposed it and sued) was to set a higher price on MLSE than Rogers and Bell may have been comfortable with. We'll see, but it's unlikely.

MLSE, the owner of Toronto’s major sports teams, is valued at $8 billion. Larry Tanenbaum, who owns a quarter of the organization, plans to sell his $2 billion stake to the OMERS pension plan as part of his estate planning.

Rogers and Bell, who jointly own the majority of MLSE, have raised concerns about this sale. They first invested in MLSE in 2012 for $1.32 billion and have the option to buy Tanenbaum’s shares in 2026. The proposed sale to OMERS values Tanenbaum’s stake higher than expected, complicating the future buyout. Experts predict that they will eventually buy out Tanenbaum and neither will let the other take full control of MLSE.

https://www.iphoneincanada.ca/2023/07/06/rogers-bell-oppose-mlse-stake/

[WuTang_OG]

A source said Tanenbaum is looking at Coca-Cola Coliseum on Toronto's Exhibition grounds as a possible venue. It is home to the Marlies of the American Hockey League with a capacity of about 8,000.

The source said he is considering building a practice facility there that could also serve as a training centre for the men's and women's national teams.

[LoveMyRaps]

[adubmac]

This probably speaks to my ignorance, but I'm shocked there are currently only 13 teams in the WNBA.

[dagger]

A source said Tanenbaum is looking at Coca-Cola Coliseum on Toronto's Exhibition grounds as a possible venue. It is home to the Marlies of the American Hockey League with a capacity of about 8,000.

The source said he is considering building a practice facility there that could also serve as a training centre for the men's and women's national teams.

He's going to end up with Bell in his corner on this because Bell lacks summer sports content beyond some TFC and
CFL while Rogers has the Jays. Maybe they don't leap in immediately, but they need every offset they can to the Jays to hang on to subscribers while the Raptors and NHL are inactive.