Rogers May Sell Stake in $18 Billion Sports Giant to Cut Debt, TD Says

Rogers Communications Inc. could sell off almost one-third of a C$25 billion ($18 billion) Canadian sports empire to pay down debt this year, according to analysts at TD Securities.

The Toronto-based telecommunications company has amassed a 75% stake in Maple Leaf Sports and Entertainment, the holding company that owns the Toronto Maple Leafs hockey team, the Toronto Raptors basketball team, and the Toronto FC, pro soccer club.