Sally Stavro, the wife of Maple Leaf Sports &
Entertainment (MLSE) Chair Steve Stavro, dismissed a weekend
report that her husband is "actively looking to sell all or
part of his ownership stake" in the Maple Leafs, according
to Morrison & Tchir of the TORONTO SUN. Sally Stavro: "It's
not true." In recent weeks "there has been speculation"
that Stavro "was under financial pressures" from the Toronto
Dominion Bank, which is his main lender, to reduce the debt"
in his "primary business," the Knob Hill Farms grocery
chain. MLSE President & CEO Richard Peddie also denied any
sale: "We're not in play right now. The owners are pleased
with their stake and committed to retaining it." But Peddie
"did not rule out" a future sale "if the price was right,"
saying, "In business, everything has a price -- let's not be
naive here." A source said Stavro "truly does not want to
sell any of his interest in the Leafs, but sources also said
that if Stavro "is facing a cash crunch" he might "try to
dilute his interest" in Maple Leaf Holdings (MLH) but "not
divest himself of control of the Leafs" (TORONTO SUN, 8/20).
On Saturday, the NATIONAL POST's Critchley & Tedesco
reported on a possible Stavro sale and wrote that Rogers
Communications CEO Ted Rogers "is interested" in purchasing
all or part of Stavro's controlling stake in MLH, which has
a 51% controlling stake in MLSE (NATIONAL POST, 8/19).
