Pension plan looks to up stake in Leafs
TORONTO -- The Ontario Teachers' Pension Plan says it's in advanced talks to buy TD Capital Group's stake in the company that controls the Toronto Maple Leafs.
The pension fund says it has reached an understanding on the principal financial terms, but didn't reveal them. Ontario Teachers would own nearly 80 percent of Maple Leaf Sports and Entertainment if the deal goes through.
TD Capital Group holds a 13.46 percent minority share of Maple Leaf Sports and Entertainment, which also controls the NBA's Toronto Raptors, the Toronto FC soccer franchise and the AHL's Toronto Marlies. MLSE also owns the Air Canada Centre.
Teachers' stake could increase to between 76.35 percent and 79.53 percent.
Kilmer Sports holds about 20.5 percent.
Copyright 2011 by The Associated Press
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