Larry Tanenbaum selling a share of his 25% MLSE stake at an $8B valuation

[MMC]

Click to read more...

 

[Ciao]

He's not rich by accident.

 

[TheLegend]

First the Lightning selling a piece... now the Leafs.

Wonder if this is going to be a trend??

 

[eojsmada]

Dang...citizens in Ontario have like zero money and very little healthcare, but thankfully the Ontario municipal employees have 8 billion to throw around. I wonder if this is the rebranded "Teachers Union" that used to own the Leafs before Rogers.

 

[Golden_Jet]

Dang...citizens in Ontario have like zero money and very little healthcare, but thankfully the Ontario municipal employees have 8 billion to throw around. I wonder if this is the rebranded "Teachers Union" that used to own the Leafs before Rogers.

Ya and that fund has 92 billion in it, dang, I’d like one of those pensions.

So this is for a part of
The , Leafs, Raptors, soccer and football team.

 

[LadyStanley]

Dang...citizens in Ontario have like zero money and very little healthcare, but thankfully the Ontario municipal employees have 8 billion to throw around. I wonder if this is the rebranded "Teachers Union" that used to own the Leafs before Rogers.

Nope. If he owns 25%, that would be vaue of $2B for his part. He's selling some, not all of that. I'm guess 12.5% at $1B (Canadian).

 

[oknazevad]

Nope. If he owns 25%, that would be vaue of $2B for his part. He's selling some, not all of that. I'm guess 12.5% at $1B (Canadian).

For what I've been able to piece together it's 25% of his 25%, so 1/16 of the total of MLSE, which if this valuation is correct means they're dropping $500 million.

 

[Golden_Jet]

.

 

[StreetHawk]

For what I've been able to piece together it's 25% of his 25%, so 1/16 of the total of MLSE, which if this valuation is correct means they're dropping $500 million.

It is also for mlse which includes the raps, leafs, TFC, marlies, the arena etc.
If you break down what each part of that conglomerate is worth on its own, that seems like the right price. I assume MLSE does not own all 100% of each of the entities they have an interest in.

 

[Yukon Joe]

It is also for mlse which includes the raps, leafs, TFC, marlies, the arena etc.
If you break down what each part of that conglomerate is worth on its own, that seems like the right price. I assume MLSE does not own all 100% of each of the entities they have an interest in.

I believe you're wrong: MLSE is the holding company, which owns 100% of it's teams and properties, but then MLSE shares are split between Rogers, Bell and Tannenbaum (and now OMERS I guess).

Well, actually Wiki identifies one thing: Maple Leafs Square, which is jointly owned by MLSE and Cadillac Fairview. But everything else appears to be 100% MLSE.

 

[LadyStanley]

Friedman speculates that this 20% stake in his holding company may be a cash flow thing and could be something to tide over if MLSE breaks up. (Partners review agreement periodically and after some recent issues may decide to break up at next review.)

 

[Kobe Armstrong]

Saudis?

 

[Chet Manley]

Dang...citizens in Ontario have like zero money and very little healthcare, but thankfully the Ontario municipal employees have 8 billion to throw around. I wonder if this is the rebranded "Teachers Union" that used to own the Leafs before Rogers.

You're complaining about the life's work of thousands of people having the combined money to buy a partial share from 1 person.

 

[aqib]

Dang...citizens in Ontario have like zero money and very little healthcare, but thankfully the Ontario municipal employees have 8 billion to throw around. I wonder if this is the rebranded "Teachers Union" that used to own the Leafs before Rogers.

No the Teachers Union that owned the Leafs before is Ontario Teachers Pension Fund. OMERS is the Ontario Municipal Employees Retirement System which the pension plan for people who work for the municipal governments in Ontario. Ontario has 444 municipalities.