TFC has a new majority owner. Less than a month after the Ontario Teachers Pension Fund said it was taking its stake of MLSE off the table, things have changed. Telecommunications giants Rogers and Bell have teamed up to buy about 80 per cent of the company. The sale was announced at a press conference this morning.
So, what does it mean for the soccer team, undoubtedly an afterthought in the whole affair?
It’s hard to say, but TFC fans can be forgiven if they are experiencing some trepidation this morning. This is not an individual, wealthy soccer lover sweeping in to take Toronto to the top of the league. No, it’s two massive, cold corporations with a reputation of maximizing profits.
[PRBREAK][/PRBREAK]Some fans may look at any change of ownership as a positive thing. To those fans MLSE, as it current
stands, is the problem. It’s important that those fans understand that the change in ownership is not a change in management. TFC is not owned by MLSE, it’s part of the company of MLSE, which Rogers/Bell is buying. At least for now, the people running the soccer team will not change.
What might change is the amount of resources the soccer management side of things gets. We don’t know if it will – and the evidence is minimal either way – but if it does it’s unlikely that it will be for the good. You see, despite the screaming of the discontented, MLSE has never cut corners when it comes to sport spending. They have never been cheap with their money, they’ve been bad with it. And since the management hasn’t changed today...
The other thing TFC fans might be worried about/hoping for is that Rogers/Bell plans to sell off the individual parts of MLSE, leaving itself with just the Leafs. Since this deal screams of convergence strategy -- Bell (TSN and TSN Radio) and Rogers (Sportsnet and Fan 590) own multiple media platforms -- they are likely looking to use the sports properties as value added aspects to their other, more profitable, pieces.
So, don’t look for a fire sale.
We won’t know for certain what this will mean for some time – and it might not mean anything. Actually, chances are that it doesn’t. However, to use a cliché, sometimes it’s better to dance with the devil that you know.