Ravens Partner With Domestic Abuse Center Phillies President Takes Leave Of Absence Devils, 76ers Buy 3D Tech To Help Fan Experience Royals' Yost Clarifies Remarks About Crowd Leiweke Discusses MLSE Exit Franchise Notes Padres Honor Selig With Ceremony, New Plaza ESPN Sorry For Report On Sam's Showering Habits MLB Franchise Notes Franchise Notes
Upcoming Conferences and Events
Bird In The Hand: Rogers Becoming Sole Owner Of Blue Jays
Published January 21, 2004
|Rogers Becoming Sole Owner Of Blue Jays|
Toronto-based Rogers Communications is "poised to become the sole owner of" the Blue Jays after "buying up the minority stake" of Belgium-based Interbrew S.A., according to Tyler Hamilton of the TORONTO STAR. Rogers CEO Ted Rogers: "I think we're on track with the Blue Jays. ... We own 80[%] of it. We're buying out the 20[%] shareholder now. That sounds to me like a commitment." Rogers, who purchased the 80% stake in '00 for C$164M, has "held the option of acquiring Interbrew's minority share at any time," but Interbrew "held the right to require Rogers to purchase the rest of the team" for C$45M, with 9% annual interest. Rogers "did not say how much his company would pay or whether Interbrew is forcing the equity purchase." Interbrew officials were unavailable for comment. Dominion Bond Rating Services Analyst Rory Buchalter said that Rogers' purchase would "take funding away that would otherwise go to reducing Rogers' debt" (TORONTO STAR, 1/21).