The (MLSE) Fact Sheet
In light of the fact that the Ontario Teachers Pension Plan have altered their web site, I will devote this blog to the “new factsheet” that they have created mere days after I posted my initial entry on the subject.
The new factsheet is difficult to find as it is no longer accessible through links from the investment information section, but by searching MLSE on the site, you will find it in no time.
The actual factsheet is listed below and my comments are bolded underneath each “fact?”
Teachers’ investment in Maple Leaf Sports and Entertainment (MLSE)
Fact Sheet
We made our initial investment in the Toronto Maple Leafs (MGL Ltd.) in 1994.
What many people failed to recognize as the beginning of the end for our beloved Maple Leafs hockey franchise.
MLSE was created in 1998 when MLG Ltd. purchased the Toronto Raptors and Air Canada Centre, uniting two teams and the arena as one organization.
This was step one in the degradation of the Maple Leafs Hockey Franchise. I call it the Montana’s/Kelsey’s theory, the conflict of interests, is that they share the same interests and owners. Seeing as how the Leafs and Raptors are in direct competition with eachother for fan support, ratings, tickets, advertising and corporate sales, ect., the only way the Raptors can grab hold of a bigger piece of the pie is if the Leafs embarrass the Leafs, forget mediocrity, their goal is to drag this Leafs franchise through the mud, feeling the passion for the Leafs team will keep it strong. The stumble will enable their basketball franchise to gain more profits to finally be able to support itself and the ACC on its own.
We own 58% of MLSE and are the largest shareholder. CTVglobemedia (15%), TD Capital (14%) and Kilmer Investments (13%) share the remaining ownership stakes. We are also a shareholder in CTVglobemedia.
This means that the OTPP has got CTVglobemedia in their back pocket in case they need to push a decision forward. They are not only a shareholder, but a 40% shareholder.
There are currently eight members on MLSE’s board of directors. While we have a right to elect a majority, we have only nominated three representatives.
This is a way to deflect blame away from OTPP, telling the world; if we wanted to, we could obtain all the power. They would rather have all the power while hiding behind different names and investments to cloud perception as to not make it obvious that the OTPP is in complete control, they know what they are doing is wrong, and by pretending to share the blame, they don’t look as bad while destroying the hockey franchise.
Of the 8 board members,
3 are from the OTPP,
1 is from the Teachers' Merchant Bank, which is the private equity arm of the OTPP,
1 is from CTVglobemedia whom the OTPP own 40% of
We have kept profits in the company and increased our capital investment, allowing MLSE to support development of its sports teams and pursue a growth strategy.
The company now has four professional sport franchises, the Air Canada Centre, broadcasting operations, and retail and real estate developments underway. Additionally, it operates BMO Field, Ricoh Coliseum, and General Motors Centre (Oshawa).
Naturally the Toronto Maple Leafs Franchise was continuing to bring in millions over millions of dollars. The profits were naturally increasing through globalizations’ shrinking of time and space, but little went back into the hockey team. The plan to build the Leafs it own arena which would help scheduling and ice conditions was never built, the hockey team was forced into the ACC to help compensate the Raptors. As time passed, add the strength of the Canadian dollar, add more money MLSE obtained through the new CBA (salary cap), new Coaches and Management were brought in at rock bottom prices and through all of this the ticket prices continued to RISE. The OTPP continued to buy more land and condominiums, more facilities, more sports teams, more equity to increase their return, and have never returned the investment to the team that created it all, The Toronto Maple Leafs.
As an owner, we are not involved in the day-to-day operations of MLSE’s teams: the Toronto Maple Leafs, Raptors, FC and Marlies.
But as an owner, they are involved and control just who is in control of day-to-day operations of MLSE's teams, and they do control their objectives and goals for their day-to-day operations.
MLSE’s management has the full commitment of the owners and the support of the Board of Directors to build championship teams. In professional sports, winning is good for business and creates a more valuable franchise.
That is unless the biggest money winner (in this case the Leafs) are taking too big a chunk of the sports dollar, therefore, to better serve all other investments and seeing how popular the hockey team already is, it is best to ignore the Leafs for the time being.
MLSE staff – not the owners or the board members – are responsible for all management of its teams, including selection and compensation of players, and player development.
This responsibility is left in the hands of the MLSE staffers that the OTPP hire to do the dirty work, if they do not do as the board wishes, (for example ask Mats Sundin to waive his no trade clause) they are fired.
The entire MLSE organization – owners, management and staff, and players – are passionate about winning. Every decision that is made has success as it target.
With exception to the Toronto Maple Leafs whom the OTPP is using only to acquire capital in order to fund other investments and gain more capital, some of which are investments in direct competition to the Maple Leafs hockey club.
Over the past 14 years, this investment has met all of our investment objectives.
Over the past 14 years the Toronto Maple Leafs hockey Franchise has been pillaged by the OTPP.
The new factsheet is difficult to find as it is no longer accessible through links from the investment information section, but by searching MLSE on the site, you will find it in no time.
The actual factsheet is listed below and my comments are bolded underneath each “fact?”
Teachers’ investment in Maple Leaf Sports and Entertainment (MLSE)
Fact Sheet
We made our initial investment in the Toronto Maple Leafs (MGL Ltd.) in 1994.
What many people failed to recognize as the beginning of the end for our beloved Maple Leafs hockey franchise.
MLSE was created in 1998 when MLG Ltd. purchased the Toronto Raptors and Air Canada Centre, uniting two teams and the arena as one organization.
This was step one in the degradation of the Maple Leafs Hockey Franchise. I call it the Montana’s/Kelsey’s theory, the conflict of interests, is that they share the same interests and owners. Seeing as how the Leafs and Raptors are in direct competition with eachother for fan support, ratings, tickets, advertising and corporate sales, ect., the only way the Raptors can grab hold of a bigger piece of the pie is if the Leafs embarrass the Leafs, forget mediocrity, their goal is to drag this Leafs franchise through the mud, feeling the passion for the Leafs team will keep it strong. The stumble will enable their basketball franchise to gain more profits to finally be able to support itself and the ACC on its own.
We own 58% of MLSE and are the largest shareholder. CTVglobemedia (15%), TD Capital (14%) and Kilmer Investments (13%) share the remaining ownership stakes. We are also a shareholder in CTVglobemedia.
This means that the OTPP has got CTVglobemedia in their back pocket in case they need to push a decision forward. They are not only a shareholder, but a 40% shareholder.
There are currently eight members on MLSE’s board of directors. While we have a right to elect a majority, we have only nominated three representatives.
This is a way to deflect blame away from OTPP, telling the world; if we wanted to, we could obtain all the power. They would rather have all the power while hiding behind different names and investments to cloud perception as to not make it obvious that the OTPP is in complete control, they know what they are doing is wrong, and by pretending to share the blame, they don’t look as bad while destroying the hockey franchise.
Of the 8 board members,
3 are from the OTPP,
1 is from the Teachers' Merchant Bank, which is the private equity arm of the OTPP,
1 is from CTVglobemedia whom the OTPP own 40% of
We have kept profits in the company and increased our capital investment, allowing MLSE to support development of its sports teams and pursue a growth strategy.
The company now has four professional sport franchises, the Air Canada Centre, broadcasting operations, and retail and real estate developments underway. Additionally, it operates BMO Field, Ricoh Coliseum, and General Motors Centre (Oshawa).
Naturally the Toronto Maple Leafs Franchise was continuing to bring in millions over millions of dollars. The profits were naturally increasing through globalizations’ shrinking of time and space, but little went back into the hockey team. The plan to build the Leafs it own arena which would help scheduling and ice conditions was never built, the hockey team was forced into the ACC to help compensate the Raptors. As time passed, add the strength of the Canadian dollar, add more money MLSE obtained through the new CBA (salary cap), new Coaches and Management were brought in at rock bottom prices and through all of this the ticket prices continued to RISE. The OTPP continued to buy more land and condominiums, more facilities, more sports teams, more equity to increase their return, and have never returned the investment to the team that created it all, The Toronto Maple Leafs.
As an owner, we are not involved in the day-to-day operations of MLSE’s teams: the Toronto Maple Leafs, Raptors, FC and Marlies.
But as an owner, they are involved and control just who is in control of day-to-day operations of MLSE's teams, and they do control their objectives and goals for their day-to-day operations.
MLSE’s management has the full commitment of the owners and the support of the Board of Directors to build championship teams. In professional sports, winning is good for business and creates a more valuable franchise.
That is unless the biggest money winner (in this case the Leafs) are taking too big a chunk of the sports dollar, therefore, to better serve all other investments and seeing how popular the hockey team already is, it is best to ignore the Leafs for the time being.
MLSE staff – not the owners or the board members – are responsible for all management of its teams, including selection and compensation of players, and player development.
This responsibility is left in the hands of the MLSE staffers that the OTPP hire to do the dirty work, if they do not do as the board wishes, (for example ask Mats Sundin to waive his no trade clause) they are fired.
The entire MLSE organization – owners, management and staff, and players – are passionate about winning. Every decision that is made has success as it target.
With exception to the Toronto Maple Leafs whom the OTPP is using only to acquire capital in order to fund other investments and gain more capital, some of which are investments in direct competition to the Maple Leafs hockey club.
Over the past 14 years, this investment has met all of our investment objectives.
Over the past 14 years the Toronto Maple Leafs hockey Franchise has been pillaged by the OTPP.
posted by LEAFER at
4:45 PM
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