In a recent report from the Canadian outlet, SportsNet, Rogers Communications Inc. is supposedly considering selling its stake in the MLB team in order to focus more on their primary communication based endeavors.
CFO of the company, Tony Staffieri, raised the issue at an industry event, saying that they’re considering ways to get more revenue from the holding.
He didn’t share who might consider buying the team from them, but he did add, “To be clear, there isn’t anything imminent that we are about to announce, but we’re certainly looking at the alternatives. Again, would like to get the content without necessarily having the capital tied up on our balance sheet.”
Staffieri didn’t comment as to whether or not the sale of the team would include the Rogers Center, which is a domed arena suited to playing in Toronto’s colder climate.
The considerations have come about as the company looks to organize their 2018 budget, as it seeks to further develop its wireless and cable divisions. However, the communications company wants to hold on to their rights to television programming, as showing the area sports games is crucial to their business model.
According to Forbes magazine, Rogers Communications investment in the team has turned a significant profit. They investing only $165 million in 2000 for a team which is now valued at close to $1.3 billion.
Blue Jays fans, on the other hand, worry that a sale could see the team gutted of its most popular players, similar to what happened following the sale of the Miami Marlins, who are looking to trade the team’s best player, Giancarlo Stanton.
The Blue Jays stand in contrast to the Marlins, however, as they boast the fourth highest attendance numbers in the major leagues. Being Canada’s only major league baseball team, ensures a particularly large fan base for whoever decides to buy in to the team.