Been told for a while and a deal is now imminent the Blue Jays are going to be sold. I am surprised however its coming this soon.
I was told Rogers has been having troubles making HNIC work on the SportsNet channels. CBC was advised they were going to be losing the main telecasts but if they did this, it would put Rogers in a horrible position and may be forced to walk away from the deal all together.
There has been fighting among executives and there will be personnel changes. Meetings at my office had Rogers searching for investors and there has been a few coming forward which is a good sign.
The Blue Jays are not making Rogers money and it seems they realize a new stadium will never happen with them being owners.
Attached is the link re: Rogers considering selling assets including the Blue Jays though all must be aware by now.
First question that crossed my mind and I've thought about this for a while.
Who would buy the team and still play in Rogers Centre weather they buy it from Rogers or be a tenant? The later makes no sense.
The reason why it worked with Rogers was because they owned the stadium and more importantly owned the network there they wouldn't have to pay for the rights which would be 9 figures a year. They keep the advertising dollars.
Before they got super popular a few years ago. Bob McCowan often said the Jays would lose about 30 million a year. That is based on baseball operations but having the stadium and network more than offsets this.
With Rogers out of the picture, the big question is who buys them. The next bigger question is, what would their plans be with a nearly 30 year old stadium. One that's considered the third worst behind Oakland and Tampa Bay....but no long term lease.
They're not being forced; Rogers has been talking about slimming down and focusing on key pillars (cable TV and Internet, cell phone network, broadcast media) for a long time. Things like the Blue Jays, The Shopping Channel and their real estate division (actually a pretty big player) are distractions, even though they're all profitable. But it's exactly now with a roaring economy and lots of debt-backed money circulating that you want to sell such assets.
It's in the title of this thread... That's the issue I have with Mirage_. I was going to bring this up but sully beat me to it. It's one thing to be on top of rumor or hearsay, even pr. However, to blatantly misrep news is quite something else. It gets annoying very quickly.
I do wonder though if this could be part of a scheme on the part of Rogers for the City of Toronto to throw some big money for a new baseball stadium. I would say Toronto restaurants and bars and maybe other retail outlets, while I’m not sure if they do have a lot of clout, would not be happy without the Blue Jays playing some 80 plus games in Toronto. The BJs do get a lot of out of towners attending games and spending money in Toronto and I’m sure the City of Toronto knows this only too well.
But no question the BJs are part of a side business for Rogers and anything that isn’t core to your business strategy and products/services that isn’t performing on the ledger sheet, sooner or later you really have to take a hard look at. I don’t think selling the BJs would have any negative effective on their core products and services, just what I think.