Who Owns the Toronto Raptors in 2026?

The Toronto Raptors are the only Canadian franchise in the NBA, and in 2026 the team is going through the biggest ownership shake up in its history.

For nearly three decades the Raptors have been controlled by Maple Leaf Sports and Entertainment, known as MLSE, the same company that runs the Toronto Maple Leafs, Toronto FC, and the Toronto Argonauts.

What has changed is who sits behind MLSE.

Rogers Communications has spent the past two years buying out its partners, first Bell (also called BCE) and then Kilmer Sports, the investment company led by longtime chairman Larry Tanenbaum.

By the end of 2026, Rogers is on track to own all of MLSE, meaning it will control the Raptors outright rather than sharing the team with a rival telecom company and an outside investor.

Below, we break down exactly who owns the Raptors today, how that ownership evolved since 1993, what the team is worth, and what the new single owner structure could mean for fans, ticket prices, and the front office led by president Masai Ujiri.

Toronto Raptors Quick Facts (2026)
Parent Company	Maple Leaf Sports and Entertainment (MLSE)
Majority and Soon Sole Owner	Rogers Communications Inc.
Prior Co Owners	BCE (Bell Canada), Kilmer Sports (Larry Tanenbaum)
Team Founded	1993, joined NBA in 1995
MLSE Acquired Team	February 1998
Forbes Valuation	Approximately 5.4 billion dollars (October 2025)
MLSE Deal Value	Approximately 17.4 billion dollars (2026 buyout)
President	Masai Ujiri
Home Arena	Scotiabank Arena, Toronto

The Ownership Structure Behind the Toronto Raptors

The Raptors are not owned directly by a single billionaire the way many American franchises are.

Instead the team sits inside MLSE, a holding company that also owns the Maple Leafs, Toronto FC, the Argonauts, the Toronto Marlies, and Scotiabank Arena.

For most of the last twenty years MLSE was split three ways among Rogers, Bell, and Kilmer Sports.

That structure is now collapsing into a single controlling owner.

A Timeline of Raptors Ownership Changes

Ownership of the Raptors has moved through several distinct chapters since the franchise was created.

The timeline below tracks the major shifts from an expansion team owned by local businessmen to a franchise controlled by one of Canada’s largest telecom companies.

Rogers Communications Takes Full Control in 2026

The most important recent development came in July 2026, when Rogers Communications announced it would acquire Kilmer Sports’ remaining 25 percent stake in MLSE for approximately 4.35 billion dollars.

That deal, first reported by CBC News, values MLSE at roughly 17.4 billion dollars and follows Rogers’ earlier purchase of Bell’s stake in 2025.

Once the transaction closes, expected in the final months of 2026 subject to approval from the NBA and the other leagues involved, Rogers will be the sole owner of the Raptors, Maple Leafs, Toronto FC, and the Argonauts.

Reports also indicate Rogers plans to fold its Toronto sports holdings into a new entity and may sell minority stakes to outside investors once it consolidates full ownership, similar to how other North American sports groups have brought in private equity partners for a portion of team value while keeping operating control.

What Happened to Larry Tanenbaum and Kilmer Sports

Larry Tanenbaum has been the public face of MLSE for years, serving as chairman since 2012 and holding an ownership position dating back to 1996.

His exit as part of the 2026 sale ends that chapter, though he is not leaving sports ownership altogether.

Tanenbaum still owns the Toronto Tempo, the city’s new WNBA franchise, and has also become an investor in the Professional Women’s Hockey League.

In a farewell statement he said he was proud to leave a culture of winning and a family feeling among MLSE employees for others to carry forward.

Is MLSE A Good Owner

MLSE has a mixed reputation among Raptors fans.

On one hand, the organization delivered the franchise’s only NBA championship in 2019 and has consistently invested in the roster, arena upgrades, and the front office under Masai Ujiri.

On the other hand, critics point to ticket prices among the highest in the league and a corporate ownership structure that can feel distant compared to owners who are hands on with basketball decisions.

With Rogers now taking full control rather than sharing power with Bell and Kilmer, decision making should become simpler, though some fans worry a single telecom parent could prioritize media rights and subscriber growth over on court spending.

Are the Raptors For Sale In 2026

The Raptors themselves are not for sale as a standalone team, and the NBA has never indicated it would approve splitting the franchise away from MLSE.

What is happening instead is a consolidation, Rogers buying out its co owners so it holds the entire company.

There is chatter, including reporting from ESPN, that Rogers may later sell small minority stakes in its sports assets to outside investors once the buyout closes, but that would not change who runs the team day to day.

Full or majority sale of the Raptors to a new owner is not currently on the table.

How Much Are the Toronto Raptors Worth

According to Forbes, the Raptors were valued at approximately 5.4 billion dollars in October 2025, up sharply from the prior year, with revenue around 380 million dollars and operating income near 136 million dollars for the 2024 to 2025 season.

That figure reflects only the basketball team.

The broader MLSE deal that gave Rogers full ownership values the entire company, including the Maple Leafs, Toronto FC, the Argonauts, and Scotiabank Arena, at roughly 17.4 billion dollars, showing just how much the Raptors contribute to one of the most valuable sports portfolios in North America.

What This Means for Raptors Fans

For everyday fans, the ownership change is unlikely to alter much in the short term.

Ticket prices, broadcast deals, and roster decisions will still run through MLSE’s front office, and Masai Ujiri remains in charge of basketball operations.

The bigger shift is behind the scenes, with Rogers gaining full authority over decisions that once required agreement among three separate corporate partners.

That could speed up choices around arena investment, streaming rights, and how the Raptors are marketed as Rogers leans further into sports as a subscriber growth strategy for its media and telecom business.

Toronto Raptors vs Toronto Tempo and Blue Jays Ownership

It is easy to mix up Toronto’s sports ownership since several teams share overlapping names and history.

The Raptors belong to MLSE and are now controlled by Rogers.

The Toronto Blue Jays are a separate franchise, owned outright by Rogers Communications directly rather than through MLSE.

The Toronto Tempo, the city’s WNBA expansion team, is owned by Larry Tanenbaum, the same executive who just sold his Raptors stake, keeping him connected to Toronto basketball even after leaving MLSE.

Understanding these separate structures matters for anyone researching who really controls professional sports in the city.

Masai Ujiri and the Front Office Under New Ownership

Masai Ujiri has led Raptors basketball operations since 2013 and remains the most visible executive tied to the team’s on court success, including the 2019 championship run.

Ownership changes at the MLSE level have not historically affected his role, and there is no public indication that Rogers plans to change the front office structure as it completes the buyout.

Ujiri continues to report through MLSE’s basketball operations division rather than directly to shareholders, which should insulate the roster and coaching staff from the corporate transition happening above them.

Compared to most NBA franchises owned by individual billionaires, the Raptors’ corporate structure is somewhat unusual, though not unheard of.

Canadian sports teams have long relied on large telecom and media companies as owners partly because these companies value live sports for keeping subscribers on cable, internet, and streaming packages.

Rogers already owns the Blue Jays outright and has broadcast rights across much of Canadian sports, so full ownership of MLSE fits a pattern of vertical integration between content, distribution, and live events that has defined the Canadian sports media landscape for years.

Fans curious how other major sports organizations are structured can compare this setup to a very different model used by the NFL, where individual owners control each franchise, or to a global governing body like FIFA, which operates as a nonprofit association rather than a for profit corporation.

Frequently Asked Questions

Who owns the Toronto Raptors right now

The Raptors are owned by Maple Leaf Sports and Entertainment, which is in the process of becoming fully owned by Rogers Communications after buying out Bell in 2025 and Kilmer Sports in 2026.

Did Rogers buy the entire Raptors franchise

Rogers is buying full control of MLSE, the parent company that owns the Raptors, rather than purchasing the basketball team as a standalone asset.

The deal is expected to close in late 2026 pending league approval.

Does Larry Tanenbaum still own part of the Raptors

No. Tanenbaum sold his remaining 25 percent stake in MLSE, and with it his connection to the Raptors, to Rogers in 2026.

He continues to own the Toronto Tempo, a separate WNBA franchise.

How much are the Toronto Raptors worth in 2026

Forbes valued the Raptors at approximately 5.4 billion dollars in October 2025, while the broader MLSE company that includes the Raptors, Maple Leafs, Toronto FC, and Scotiabank Arena was valued at roughly 17.4 billion dollars in the 2026 buyout.