To be more precise, a 66% stake in Maple Leaf Sports and Entertainment (which owns Toronto FC and manages BMO Field) appears to be up for grabs, as the Ontario Teachers' Pension Plan looks to be shopping its majority stake. The price tag has been floated at between $1.3 and $1.5 billion for a controlling interest in MLSE, and while the Toronto Star reported months ago that Rogers Communications had interest, recent reports suggest current minority owner Larry Tanenbaum might make a play at a majority stake himself.
Many fans across the city's sporting spectrum would likely welcome this news, as the OTPP's legal obligation to perpetually increase its return on investment (irrespective of on-field/on-ice/on-court success) is a particular sticking point for many Toronto sports fans. It's also lead to charges that MLSE, an an entity, is "cheap" or "doesn't care about winning".
So, what would this potential sale mean for Toronto FC? Not as much as another potential move brewing at MLSE headquarters.
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While MLSE, as an entity, is often derided by long-suffering Toronto sports fans, its CEO, Richard Peddie, is the most frequently-used whipping boy. But Peddie announced last year (mere days before the story broke about Rogers' interest in MLSE) that he'd be stepping down from his post at the end of 2011. The organization is in the midst of finding his eventual replacement, but an interesting tidbit appeared in a column by Dave Feschuk in Sunday's Star, in reference to the search for a new MLSE CEO:
Anselmi's name should ring a bell to Toronto FC supporters; he is, essentially, the face of the parent company when it comes to soccer matters. There's nothing to be said right now as to what his chances are of taking over the CEO job, but it would certainly be interesting to have the executive that's been in-tune with Toronto FC for years be at the ostensible helm of the corporate board.Tom Anselmi, MLSE’s current chief operating officer, remains the in-house front-runner to get the gig
There's no guarantee he'd use that position to move TFC-related matters to the forefront of the corporate agenda... but anything's possible. Then again, it's probably just as likely that any love of footie he's developed would be mercilessly subsumed by his duties to monitor MLSE's interests in hockey, basketball, real estate and so on.
And, of course, this is all hypothetical. But then again, Toronto sports fans talk about the playoffs every year, so hypothetical musing is nothing new.
As to the potential sale of a controlling interest in MLSE... it's unlikely that this will have a substantive impact on the day-to-day operations of Toronto FC. Many people accuse MLSE of being cheap, but as my colleague Duane Rollins has said in the past, the issue isn't necessarily that the organization has been unwilling to spend money; it's that they've been unable to spend it properly.
Sure, Mista was a bad signing. The absolute faith placed in Mo Johnston was dodgy. The beer at BMO Field is eye-bulgingly expensive. The team hasn't made the playoffs in four years. Money was wasted on Player A, B, C (I'd go on, but the alphabet only has 26 letters).
On the other hand... MLSE paid to bring grass to BMO Field. And have the stadium expanded. And have the bubble moved to Lamport. And they've poured money into the TFC Academy, including the upcoming plans to build a full-scale training facility for the Junior Reds. And recruited Aron Winter and Paul Mariner to finally (hopefully) create some stability when it comes to the day-to-day management of the team.
That sort of "you win some, you lose some" scenario will continue unabated, regardless of whether the majority of MLSE's shares are owned by OTPP, Rogers, Tanenbaum or some other entity. Of course, if Rogers were to purchase those shares, that opens up an entire new can of worms as it relates to broadcasting and warring media companies -- but that's another story for another day.
For now, let's say that Toronto FC fans should temper any excitement they may be having about this situation. While the acronym "MLSE" always riles up the passions in this city, it's doubtful that a transfer of power will have any significant immediate impact on the pitch at BMO Field.
Unless, of course, the new owners rip up the grass and put back the turf to save a few bucks...