Are the Blue Jays up for sale?

Jose Verdugo
Diciembre 8, 2017

According to Natalie Wong of Bloomberg News, Rogers Chief Financial Officer Tony Staffieri told her that Rogers is considering selling the Blue Jays to free up capital for other investments.

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.

The Blue Jays were valued at $1.3 billion by Forbes in April.

Multiple media outlets, including Sportsnet, are now reporting that Rogers is not only shopping its Toronto arena, but also its permanent tenant, the Toronto Blue Jays. Or would you be concerned about the Toronto Blue Jays having less stability/security?

Though no deal is imminent, a sale will free up capital for other investments, Staffieri said at the UBS Global Media and Communications conference in NY.

More news: Featured Stock: AK Steel Holding Corporation (NYSE:AKS)

The Blue Jays begin spring training on February 23 against the Philadelphia Phillies and will open the 2018 regular season against the New York Yankees on March 29. The sale of the franchise is not imminent.

But Galappatthige notes that Rogers has other non-core assets including a 37.5 per cent interest in Maple Leaf Sports and Entertainment, which owns the Toronto Maple Leafs hockey team and Toronto Raptors basketball team, and the Rogers Centre - worth $200 million to $400 million.

The company has said before that it's exploring ways to get more value from its portfolio of assets, including the Jays, but Staffieri's comments Tuesday were more specific.

The Miami Marlins were sold to a group of investors for $1.2 billion in October. A record $2 billion was paid for the Los Angeles Dodgers in 2012.

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