Big changes coming to Leafs executive staff

According to multiple reports, the Toronto Maple Leafs are on the verge of selling a portion of their ownership stake of the team to OMERS, a pension plan for Ontario municipal employees.

In particular, 25% stake holder Larry Tanenbaum, the chairman of Maple Leafs Sports & Entertainment (MLSE) is looking to sell some or all of his portion of the team. The remaining 75% of the team is owned jointly between Bell and Rogers. Together, Tanenbaum, Bell and Rogers own the Maple Leafs, the NBA's Toronto Raptors, MLS's Toronto FC, the CFL's Toronto Argonauts and each team's arena/stadium. 

The Leafs are valued at roughly $8 billion, meaning that Tanenbaum's stake is worth roughly $2 billion. It remains to be seen what he sells for and how much of his stake he sells, but it's important to note as well that Bell and Rogers have the right to refuse any potential new owners. 

It remains to be seen how this all affects the Leafs both on and off the ice in the upcoming seasons, but it almost certainly means that change is afoot with regards to the team's corporate and executive structure. Tanenbaum has been a figure in Leafs ownership going back nearly 30 years, having purchased a stake in the team in 1996. He spearheaded the construction of the team's home at Scotiabank Arena and has long been the team's mouthpiece, speaking on behalf of ownership. With his stake in the team diminishing, it would make sense for his roles, both public and private, to diminish a bit, as well.

Stay tuned.