Rogers considering sale of Blue Jays, Cogeco stake

Rogers considering sale of Blue Jays, Cogeco stake

Rogers Communications has been the sole owner of the Blue Jays since 2004.

Rogers chief financial officer Tony Staffieri said earlier this week the company is considering a sale of the Toronto Blue Jays, and its stake in smaller media company Cogeco.

Rogers should be able to sell it for about that sum, said Andrew Zimbalist, a sports economist with Smith College in Northampton, Massachusetts, who noted the team is in a large, wealthy city with a strong fan base. Or would you be concerned about the Toronto Blue Jays having less stability/security?

Rogers initially purchased the Toronto Blue Jays and their then-named venue, the SkyDome, twelve years ago with the intent of implementing the team into their content strategy.

According to a Bloomberg report, Rogers Chief Financial Officer Tony Staffieri, in a speech to the UBS Global Media and Communications conference Tuesday in NY, said the company plans to free up capital for other investments, however, no deal is imminent.

The exact price tag for both the Rogers Centre and the Blue Jays organization was not mentioned by Staffieri, but he did make it clear that his executive board is open to discussions. The sale of the franchise is not imminent.

He pointed to a C$5.2 billion ($4.1 billion) 12-year deal that Rogers signed in 2013 to broadcast National Hockey League games, elbowing out rival BCE Inc for rights to Canada's most popular sport.

Staffieri said Rogers is looking to "surface value" from the Blue Jays, a "very valuable asset for us that we don't get full credit for".

The Miami Marlins were sold to a group of investors for $1.2 billion in October.

Rogers and Cogeco were not immediately available for a comment.

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