Rogers takeover of MLSE motivated by legacy, financial opportunity: experts [Video]

Experts say rising team valuations and the desire to forge a legacy are likely at the heart of what motivated Rogers Communications Inc. executive chair Edward Rogers to bolster the company’s portfolio of Toronto professional sports teams.

The company’s $4.7-billion deal to acquire rival telecom BCE Inc.’s 37.5 per cent stake in Maple Leaf Sports & Entertainment will give Rogers a majority control of the Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts and Toronto FC.

It’s a move that plays into Rogers Communications’ long-standing strategy to build out its sports empire, with the company already owning the Toronto Blue Jays and becoming the national NHL television rights holder a decade ago.

But the driving force behind the deal was Edward Rogers, said Richard Powers, a professor at the University of Toronto’s Rotman School of Management.

“He’s the top dog,” said Powers.

“He’s always wanted to be the decision-maker, and now he will be.”

Edward inherited ownership …