Latest news with #LarryTanenbaum
Toronto Sun
07-07-2025
- Sport
- Toronto Sun
SIMMONS: Celebrating Larry Tanenbaum, the great Toronto sports owner who wasn't really the owner
Outgoing chair of Maple Leaf Sports and Entertainment celebrates his 80th birthday on Tuesday. Get the latest from Steve Simmons straight to your inbox Larry Tanenbaum (right) speaks with former Toronto Maple Leafs president Brendan Shanahan last year. Jack Boland/Toronto Sun If you asked anyone on the Maple Leafs or Raptors who owned their team, the answer would not be complicated. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The response would be Larry Tanenbaum. And it would not be true. Sometimes he would be Mr. Tanenbaum to the players. But mostly, he was just Larry. He was the owner shaking hands in the dressing room when handshaking was necessary or appropriate. He was the owner on the road for playoff games, in the hallways, almost always with wife, Judy, and with his right-hand man and lawyer, Dale Lastman, at his side. He was the owner who had parties at his Toronto home — beginning of the season, end of the season, sometimes in between. Sometimes there were events at his cottage. If you were a Leaf or a Raptor, you were like one of his children. He was the owner who wasn't in the fact the owner — which makes his rise and his story and his success on his 80th birthday all the more difficult to believe and comprehend. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Those who play for most teams don't get involved a whole lot in ownership. They don't try to understand who owns how much of a percentage of what. What has been amazing to watch is the position of sporting power that Tanenbaum has built for himself over the past 27 years and one that is now about to end. He was never the majority owner, but he was in charge. He wisely and subtly finessed his way to be in the power-broker role of the Leafs and everything else that is MLSE. As the deal with Rogers and Bell finally comes to a conclusion, with Rogers as new majority owner of everything that is MLSE — the Leafs, the Raptors, Toronto FC, the Argos, the Marlies, the real estate, the restaurant and bars, and just about anything else it wants — Tanenbaum will be slid out of the power role he has held for more than 25 years. This advertisement has not loaded yet, but your article continues below. And what a time it has been. The Raptors were worth $121 million when Tanenbaum and friends started MLSE. They are valued at more than $4 billion US today. The Maple Leafs were a $47.5-million franchise in 1998. Today, they are valued at probably a low $3.8 billion. Against the advice of NHL commissioner Gary Bettman, who thought it was a bad buy, MLSE paid $10 million for the expansion franchise Toronto FC that apparently is worth $725 million today. Tanenbaum's 20% of MLSE now is valued at well over $2 billion and that has enabled him to go out and purchase a WNBA expansion franchise for Toronto — which already has increased in value — and a European soccer team. All this as his 80th birthday comes Tuesday and what would you buy for the man who has everything? This advertisement has not loaded yet, but your article continues below. In recent years, Tanenbaum has celebrated championships in the NBA, MLS, CFL and AHL. It's about the only time the very private Tanenbaum is in any way public. He doesn't do interviews often. He doesn't share his thoughts for public consumption often. But I do know this much: The two things he really wanted to do and never could — celebrating a Stanley Cup with the Leafs and bringing an NFL franchise to Toronto. One of those remains possible today. The rest has been a quarter-century of growth, wealth translating to weathier and a minority owner becoming more and more powerful. When Bell and Rogers bought 75% of MLSE from the Ontario Teachers' Pension Fund, neither would trust either side to be in control. Tanenbaum, along with Lastman, finessed his way into remaining in the position of chair — and not just any chair. This advertisement has not loaded yet, but your article continues below. With Bell having three seats on the board and Rogers having three seats on the board, they couldn't necessarily agree on anything. That meant the controlling votes in so many cases belonged to Tanenbaum and Lastman. The only time it ever backfired on them was when Brian Burke was rightfully let go by the Leafs. Bell decided it wanted Burke out. It talked Rogers into agreeing with its side. The two then went to Tanenbaum and told him of their decision — and also told him to fire Burke. While against the move, Tanenbaum fired Burke. One flaw of Tanenbaum's time as owner in Toronto: He loved everyone who worked for him. He treated them like they were family. He believed in what believed in. Even with a flawed general manager such as John Ferguson Jr., it took Tanenbaum years to see what others spotted rather early in Ferguson's reign. This advertisement has not loaded yet, but your article continues below. That was the best and worst of Tananbaum all at once. Even those who were fired over the years — from Masai Ujiri to Brendan Shanahan all the way down to Dave Nonis — all found a way to thank Larry after the fact. That is pretty rare in professional sports. You don't get fired and thank the owner. They did in Toronto. Read More And the betting still around the city is that the emotional parting with Ujiri would not have happened in Raptorland had Tanenbaum been making the call. All these accolades for a man who owns one-fifth of MLSE until he sells that portion of his shares. And what's amazing today and maybe for so much of the life of MLSE is how Tanenbaum has risen to power and prominence. He's one of the owners Bettman listens to regularly. In the much-richer NBA, he holds even more power as chairman of the Board of Governors and commissioner Adam Silver's voice of reason. It has been an incredible run really for Tanenbaum. He hasn't been the perfect owner. There is no such thing. But ask the players, the coaches, the executives who worked for him and they say nothing but praise. Maybe that's the best sporting gift — along with a $2-billion-plus going-away present — you can receive for your 80th birthday. ssimmons@ Columnists Toronto Blue Jays Sunshine Girls World Canada
National Post
27-06-2025
- Business
- National Post
Masai Ujiri's departure marks end of a thrilling era for Toronto Raptors
Everyone knew a day would come when Masai Ujiri would no longer be the face of the Toronto Raptors. Article content But after a dozen years of the man being front and centre — and actually delivering on his oft-stated pledge that 'we will win in Toronto,' — it feels weird that Ujiri's time with the Raptors has come to an end. Article content Article content The news Friday morning was not completely out of left field, of course. Article content Toronto just missed the playoffs for the third season in a row and for the fourth time in five years, and Ujiri had expressed some frustrations about the wheels falling off in recent campaigns. Article content Plus, his biggest booster at Maple Leaf Sports and Entertainment, Larry Tanenbaum, will be forced to sell off his ownership stake by next summer, per when Rogers, Bell and Tanenbaum became co-owners back in the day. Article content Article content Edward Rogers and his company will get full control of the conglomerate at that time (Bell's decision to sell already has been approved and continues to progress) and, though reports of Rogers and Ujiri having a frosty personal relationship have been overstated, per multiple sources, the business side of the relationship was a different matter. Article content Ujiri got a massive financial haul in his last deal (which also made him vice chairman of the Raptors), but he also was closer to the glory years when it was signed. Based on the recent Raptors record, Rogers was unwilling to meet Ujiri's still notable price and he wasn't sure about the fit in the new world order of sports in Toronto, minus Tanenbaum, who has said Ujiri is 'like a son' to him. Article content Article content So, here we are. Article content Article content Though Ujiri had also been upbeat for many months now as a long-awaited rebuild and culture shift started to bear some fruit (he even popped in to talk to local media on draft night Wednesday for a few minutes, acting as if nothing was amiss), the franchise will now be steered by Ujiri's chief lieutenants Bobby Webster — who was hired away from the NBA front office — and Dan Tolzman, who Ujiri brought to Toronto from Denver. Article content Maybe his future is in politics or as a CEO of a large company. A major European soccer club once unsuccessfully tried to poach him.
Hamilton Spectator
15-06-2025
- Business
- Hamilton Spectator
Raptors mailbag: Trade RJ Barrett or Immanuel Quickley? What are expectations for Toronto next season?
A bit miffed that the Knicks haven't called Mother Star for permission to talk to me about the coaching opening, but then again I don't know what the answer would be. I do know it's a big part of Ye Olde Mailbag this weekend, so enjoy. Oh, and be nice to be your dad today (you listening, Super Son?) and let him enjoy Father's Day in whichever manner he wants. I saw where Rogers had been approved by the five leagues that it is involved in as a part owner of MLSE to up its stake to 75 per cent, basically just a rubber-stamping process as no league is going to refuse them in upping their stake. My question, or rather confusion, lies in Larry Tanenbaum's 25 per cent stake. I have heard for a while now that his stake can be acquired by MLSE in 2026. This would make Rogers the sole owner of MLSE. Is this a done deal? Is it a given that Larry will sell his stake? Does he have a choice? Although I don't see why he wouldn't, as MLSE has morphed away from him being really the face of the corporation and he has his new venture in the WNBA. My question is: Is his stake definitely going to be sold in 2026, or what are the factors behind it in terms of MLSE acquiring it? Thanks and have a great day. —Doug B. In deep trouble at times Friday night, the Thunder reduced the Finals to a best-of-three heading back to Oklahoma City on Monday night. In deep trouble at times Friday night, the Thunder reduced the Finals to a best-of-three heading back to Oklahoma City on Monday night. Rogers has the rights to obtain Tanenbaum's 20 per cent — he had sold five per cent earlier — this year under the original terms of partnership. It's expected that it will be, but nothing in business at that level is done until it's done and it's not done, so this will be an interesting boardroom story to follow. Good afternoon, Doug. I have really enjoyed the playoffs this year. The basketball has been good, and the series have been reasonably competitive. Has there been a year that you felt the playoffs as a whole were below par? Which NBA Finals series did you enjoy the least? And to end on a positive note, which year's NBA Finals did you enjoy the most? —A.J. Falconer in Burlington In recent vintages, I seem to recall the overall tone of the 2013 playoffs were only saved by an epic Spurs-Heat final; the rest of the playoffs were pretty bad. So maybe that covers off both aspects? I don't listen to his podcast, but I seem to read an awful lot of what he said. Do you have an opinion of Bill Simmons? —Paul M. I really don't. He's not someone I pay any attention to. He's certainly a good success story, having become this giant from a humble start as a one-trick pony Boston Sports Guy, and he has created journalism jobs as a boss, but I don't put any weight on his opinions or his weight in the sports and entertainment culture world. Hi, Mr. Smith. Been a while since I asked a question here, but I am getting excited about the upcoming season and step forward that I hope the Raptors are healthy enough to take this year. That being said, it has been often discussed that they have many duplicate pieces. How many players do you feel could make up a team that can challenge in the playoffs? Is Immanuel Quickley a starting-calibre point guard or better suited as a two? With the glut of two-threes that they have, which or how many can be in a quality playoff team? —Niagara Nick The roster as constructed right now should be a playoff team. Once you get there, it's health, matchups, hot hands and good luck that determine mainly who advances. Yeah, I'd say he's a starting quality point guard, not an all-star but certainly good enough to start in a post-season series. As for how many two-threes? I think you need probably four guards, three wings — or let's say five smalls and three or four bigs — to comprise a good roster. And give my best to Niagara. I gotta get back there soon and see if any of the old haunts are still haunting the place. Or discover some new ones. Hi, Doug. Can't complain about the playoffs being boring! Both NBA and NHL finals are competitive to say the least. Oh, the late nights and early-morning work hours mean pre-game naps for me! Some questions: 1) Many articles suggest that if the Raptors are involved in any trades, RJ Barrett is a target. No offence, but why not Immanuel Quickley? Similar age and contract, or is there less of a market for guards (mentioned Jakob Poeltl a lot, too). I automatically disregard any multiple-team trade rumour where the Raptors are the only team that benefits and someone demands a third of our roster and/or every draft pick for the next four to six years! 2) Tyrese Haliburton and SGA were both acquired by their respective teams in the first couple of years in the league by trading an all-star player. Should this be the model for team building? Or was this just two examples of savvy GMs pulling off a heist? 3) How likely is Dr. Alex McKechnie to manage another Kawhi Leonard-like recovery in the case of Brandon Ingram ? Getting back to potential trades, wouldn't it be wiser to see how well the healthy roster works together before making any moves (assuming no crazy offers too good to pass up are made!)? In this week's mailbag, Doug Smith takes questions on potential Raptors trades, the NBA Finals, Bobby Webster, the G League and much more. In this week's mailbag, Doug Smith takes questions on potential Raptors trades, the NBA Finals, Bobby Webster, the G League and much more. 4) Another draft question. Yes, the draft is largely a crapshoot, but as interest in Khaman Malauch grows, the odds of him being around for the Raptors may fall. Would it be so terrible to pick a player maybe an inch shorter with a similar wingspan? Also, based on last year, it looks like management prefers fourth- or fifth-year players rather than freshmen. Thoughts? It's sad that the team losing the championship will wonder what they need to fix when the truth is, with luck, they are essentially good enough! Thanks for keeping us going until next season! —Bernie M. The general theory I'm hearing about RJ being bandied about is that his contract, while a bit more expensive per year, has two fewer seasons left than Quickley's and that makes him a more interesting asset to discuss. And the larger value might make it easier for money to fit in a big deal. Doesn't mean it's why they want to deal him, it's that the fit is better. Big trades, like the ones that got Haliburton to Indy and SGA to OKC, are always just parts of the team-building process. And as much as we think now the Pacers and Thunder fleeced the Kings and Clippers, both Sacramento and Los Angeles firmly believed they were making deals to improve at the time. It just didn't work out. I don't know if Alex and the team's medical staff will make magic with Ingram, but their history suggests they will and it's part of the reason the Raptors pulled the trigger. They have faith in their staff. And yes, all things considered you'd want to see if things work before pulling off a big deal, but you have to strike when the opportunity arrives, if it does, and what's possible today is unlikely to be available in, say, next February. Yes, the draft is a crapshoot, no question. But it's not inches as much as it is overall skill set that will determine who gets taken. The four-year college 'vets' have generally come later in the draft and it's a conscious decision by management at that point. I don't think it should come into play with a top-10 selection. Hey, Doug. Hope you are enjoying the longer days and transition into the summer months. The warmth and sunshine just seem to change about everything for me. The firing of the head coaches for the New York Knicks (NBA) and Dallas Stars (NHL) after reaching conference finals has me scratching my head. Highly successful seasons, or in the Stars example multiple seasons. But clearly my definition of success and those organizations' definition are different. It seems the standard is now: win it all or you will be gone. Tom Thibodeau took the Knicks to a place they haven't been in a long while. One might think that's a good thing. Apparently not. What are your thoughts on this? Was the assumption that the Knicks advanced despite the coach, rather than because of him? Is there a lack of accountability by the GMs of these organizations for the roster? In other words, I gave you a championship roster, so you should have won a championship! It's not me, it's you. The Knicks and the Stars were right there. So close to getting to the finals. A play here, a bounce there and they're through. Now, a new coach, new system, etc., one could argue there is a higher likelihood you are worse next year rather than better, given how difficult it is to get to the conference finals. I don't get it. I know winning a lot of games for years on end, without getting to the ultimate goal, will cause reflection and perhaps change and rightly so (hello, Leafs ). I've just always felt that coaches get too much credit and too much blame, and the players on the court/ice ultimately will decide who's better. Maybe my thinking is flawed. —Chris I've always felt that coaches get too much blame and too much credit, but it's a hard argument to win given the focus on them and their position often as the only constant face of a franchise. But I don't think it's personal accountability as much as it is a stark lack of patience, and not to ever be forgotten is the impatience is often shown by ownership, far more often than by general managers. The owners are often the true culprit, and I think that's what was in play in New York. Kuhn has seen it all in his role as the Toronto Raptors' public address announcer since the inaugural season. Kuhn has seen it all in his role as the Toronto Raptors' public address announcer since the inaugural season. And while I can't speak to the Dallas hockey situation, I will make this point: At some juncture, some coaches have taken teams as far as they can go and there needs to be a change to take that final step, and maybe after three straight failures to take the final step a new approach is necessary. That was certainly not the case in the New York basketball scenario. The Knicks had showed constant growth and had not stagnated. Hi, Doug. Long time no submission (but doing so now to help keep you employed)! Having watched many of the playoff teams this post-season and their varying levels of skill, I'm impressed with many of those teams' future prospects — and concerned about how far Raps still have to go (in my opinion) to catch up to the better teams never mind climb over them in standings. How do you see the competitive landscape? —BBall Barry in North Bay/Sarasota I think the East is a bit of a mess and wide open right now, and I expect this Raptors roster to be quite competitive in it next season. Probably not to the level of winning the conference, but they can certainly take the next big step toward that. The distance to go isn't as great as you seem to think, I would say. Hey, Doug. Happy Super Dad Day! Wondering what you make of the latest soap opera from the New York Knicks? They fired Thibodeau and now appear to be asking the other 29 teams for permission to interview their head coach. (Maybe they should reach out to Red Auerbach. I understand he hasn't been under contract by the Celtics for a few years now.) Who should they hire? Is Dwane Casey no longer interested in coaching? If offered the position, should he accept it? I can't help to see certain similarities between the Knicks and Maple Leafs. What is it about these franchises that they appear close to returning to the finals of their respective leagues, and then everything collapses around them? Maybe Harold Ballard could be compared to James Dolan, but the Leafs have had solid — rational? — ownership for many years now. What should they do, or not do? Appreciated as always. —Phil I would never in a second recommend to a friend like Dwane that he consider working for Dolan and the Knicks. It's been a cesspool of ownership for about two decades and while Leon Rose may have cleaned it up a bit, it's still a mess. Who should they hire? Well, I'm sure there's an assistant out there who is eager for one of only 30 jobs like it on Earth who thinks he or she can somewhat survive, but I can't think of anyone in particular. Trouble is, it seems the Knicks are more interested in winning the press conference than anything, and that seldom works out. Leafs-Knicks? Maybe the common thread over the last 20 years is hubristic because neither team — until New York this spring — has been truly relevant in their sport, despite the fans' belief that they're good.
Edmonton Journal
05-06-2025
- Business
- Edmonton Journal
Rogers gets all necessary league approvals to buy Bell's MLSE stake
Article content Rogers said Wednesday those five leagues have signed off on the deal that would see it increase its ownership stake in the company to 75 per cent. The deal also includes the transfer of NBA TV (Canada) from Bell to Rogers, and that aspect is subject to approval from the Canadian Radio-television and Telecommunications Commission. Rogers' sports portfolio also includes Major League Baseball's Toronto Blue Jays and their Rogers Centre home. MLSE chairman Larry Tanenbaum, via his holding company Kilmer Sports Inc., owns the company's other 25 per cent stake. OMERS, a Canadian pension fund, purchased a five per cent indirect stake in MLSE in the summer of 2023 through a 20 per cent direct stake in Kilmer Sports for US$400 million.
Winnipeg Free Press
04-06-2025
- Business
- Winnipeg Free Press
Rogers gets all necessary league approvals to buy Bell's MLSE stake
TORONTO – Rogers Communications has received all necessary league approvals to buy out rival Bell's 37.5 per cent stake in Maple Leaf Sports & Entertainment, the telecommunications company said Wednesday. Rogers announced Sept. 18 that it was buying Bell's stake in Toronto-based MLSE, which includes the NHL's Maple Leafs, NBA's Raptors, CFL's Argonauts, Major League Soccer's Toronto FC and the American Hockey League's Marlies, for $4.7 billion. Rogers said Wednesday those five leagues have signed off on the deal that would see it increase its ownership stake in the company to 75 per cent. The deal also includes the transfer of NBA TV (Canada) from Bell to Rogers, and that aspect is subject to approval from the Canadian Radio-television and Telecommunications Commission. Rogers' sports portfolio also includes Major League Baseball's Toronto Blue Jays and their Rogers Centre home. Thursdays Keep up to date on sports with Mike McIntyre's weekly newsletter. MLSE chairman Larry Tanenbaum, via his holding company Kilmer Sports Inc., owns the company's other 25 per cent stake. OMERS, a Canadian pension fund, purchased a five per cent indirect stake in MLSE in the summer of 2023 through a 20 per cent direct stake in Kilmer Sports for US$400 million. This report by The Canadian Press was first published June 4, 2025.
