Ontario Teachers’ Pension Plan (OTPP) is planning to sell its majority stake in Maple Leafs Sports and Entertainment, The Wall Street Journal reports. Last year, it was reported that OTPP is looking to sell its 66% stake in Maple to Canada’s Rogers Communications for $1.33 billion.
In 1994, Teachers bought an initial stake of 49% in Maple and increased its ownership to 66% by 2009. Toronto-based entrepreneur, Larry Tanenbaum,owns 20.5% of Maple, while TD Capital, a division of Toronto-Dominion Bank, holds 13.5%.
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