The Toronto Raptors are a professional basketball team in the National Basketball Association (NBA), based in Toronto, Ontario, Canada. The franchise was granted in 1993 and began play in the 1995–96 season.
The team is owned by Maple Leaf Sports & Entertainment Ltd. (MLSE), which is a major sports & entertainment company that owns multiple teams in Toronto—such as the Toronto Maple Leafs (NHL), the Raptors, Toronto FC (MLS), and others.
MLSE itself is privately held, with major stakeholders including corporate interests rather than a single individual private owner.
Ownership Status of the Toronto Raptors
Since the Raptors are under MLSE, there is no single “owner of the Raptors” in the sense of one private individual owning the team outright. Ownership is distributed through MLSE’s corporate shareholder structure, and the franchise is part of that broader entity.
Major Shareholders
Here are key ownership facts for MLSE, which effectively owns the Raptors:
| Shareholder / Entity | Ownership Percentage | Notes |
|---|---|---|
| Rogers Communications Inc. | ~ 75% | Rogers purchased an additional ~37.5% stake in MLSE from BCE Inc. (Bell) in 2024. |
| Larry Tanenbaum / Kilmer Group | ~ 25% | Tanenbaum is Chairman of MLSE and has a minority stake in the company. |
Note: The remaining shares (if any) are held by other institutional investors or through MLSE’s corporate structure.
About Larry Tanenbaum
Larry Tanenbaum, born July 8, 1945 in Toronto, Canada, is a prominent Canadian businessman and sports-executive. He earned a Bachelor of Science in Economics from Cornell University in 1968. He is Chairman of Maple Leaf Sports & Entertainment Ltd. (MLSE) and holds a significant ownership stake (approximately 25 %) in the company via his holding company, Kilmer Sports Inc..
Under his leadership, MLSE owns major sports franchises including the Toronto Raptors (NBA), the Toronto Maple Leafs (NHL), and other teams in Toronto’s sports ecosystem. Tanenbaum is also known for his philanthropy, serving on numerous boards, and being appointed an Officer of the Order of Canada in recognition of his business and public-service contributions.
Larry Tanenbaum’s Net Worth
As of mid-2025, Larry Tanenbaum’s estimated net worth stands at approximately US $2.8 billion. Various sources note that he is among Canada’s wealthier individuals, with his wealth deriving from his stake in MLSE, infrastructure, real estate and private-equity holdings via Kilmer. It should be noted that net-worth estimates can vary depending on valuations of private companies, market conditions and how ownership stakes are valued, so the figure is best viewed as an approximation rather than a precise number.
Key Shareholder Highlights
- Rogers Communications is a major Canadian telecommunications and media company. Its large stake (approximately 75%) gives it controlling interest in MLSE, and thus significant influence over the Raptors franchise.
- Larry Tanenbaum is a long-time Canadian business leader in the sports, real-estate and infrastructure sectors. He serves as Chairman of MLSE and is often seen as the public face of the ownership structure.
- The MLA structure means that operational decisions for the Raptors (and other teams within MLSE) are made at the corporate level rather than by a single owner of just the Raptors. For example, the team’s president & front-office operate under MLSE’s umbrella.
Recent Developments in Ownership
- In September 2024, Rogers Communications bought out Bell’s (~37.5%) stake in MLSE, giving Rogers approximately 75% control of MLSE and thus effective controlling interest in the Raptors.
- This change solidifies the corporate ownership of MLSE (and the Raptors) under Rogers, with Tanenbaum’s share remaining at approximately 25%.
FAQs
1. Who is the current owner of the Toronto Raptors?
There is no single private owner of the Toronto Raptors. The franchise is owned by Maple Leaf Sports & Entertainment Ltd., and the major shareholders of MLSE are Rogers Communications (~75%) and Larry Tanenbaum (~25%).
2. Is the Toronto Raptors publicly traded or privately owned?
The Raptors are part of MLSE, which is privately held (not publicly traded) by corporate shareholders.
3. Who founded the Toronto Raptors?
The franchise was founded by John Bitove Jr. (through his group) in 1993 as an NBA expansion team.
4. Has the ownership changed recently?
Yes — in 2024 Rogers Communications acquired Bell’s stake in MLSE, increasing its share to ~75%. This change gives Rogers majority control over MLSE and thus the Raptors.
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