Larry Tanenbaum launches Kilmer Sports Ventures / Hires Football Exec Ivan Gazidis as President

[D.Brasco]

What CFL team did Ivan come from?

[WuTang_OG]

https://www.espn.com/soccer/story/_/id/40140685/saint-etienne-purchase-toronto-raptors-maple-leafs

Storied French club Saint-Etienne said on Monday they were in exclusive talks for a sale to the owner of the NBA's Toronto Raptors and NHL's Toronto Maple Leafs.

The full purchase of the 1976 European Cup finalist by Larry Tanenbaum's Kilmer Group should be ratified within weeks, the club said in a statement four days before a key end-of-season game in their push to be promoted back to top-tier Ligue 1.

"I know what Saint-Etienne represents for its community and for French football," Tanenbaum said in the statement, calling the club from central France "the beating heart of a city and its region."

Saint-Etienne are 10-time champions of France, though not since 1981, when their star player was French great Michel Platini. Their 41,000-seat stadium is one of the venues for the men's and women's soccer tournaments at the Paris Olympics.

The pending deal was announced as Saint-Etienne prepares to end the second-tier regular season needing to win at Quevilly on Friday to stay in contention for a runner-up finish.

Saint-Etienne, who were relegated two years ago, are assured of at least a third-place finish and entry into a promotion playoffs bracket involving four teams.

The club said it wanted to "ensure an ambitious future" with a new owner that was "trusted, experienced and financially solid."

Tanenbaum is the chairman and CEO of Kilmer Group and chairman of the board for Maple Leaf Sports and Entertainment, which owns the Raptors and Maple Leafs. Kilmer also is reportedly being awarded a franchise in Toronto for a WNBA team.

Saint-Etienne say the deal was being negotiated for Kilmer by Ivan Gazidis, the former CEO of Arsenal and Inter Milan.

Yep, the beginning of selling all his holdings and getting out of the business.

Now we know exactly why he hired Gazidis and why he sold a non-voting share for capital to OMERs.

ya this was always the play. Larry going hard now building his own outfit. Credit to him still going hard at 80

[raps14]

https://www.espn.com/soccer/story/_/id/40140685/saint-etienne-purchase-toronto-raptors-maple-leafs

Storied French club Saint-Etienne said on Monday they were in exclusive talks for a sale to the owner of the NBA's Toronto Raptors and NHL's Toronto Maple Leafs.

The full purchase of the 1976 European Cup finalist by Larry Tanenbaum's Kilmer Group should be ratified within weeks, the club said in a statement four days before a key end-of-season game in their push to be promoted back to top-tier Ligue 1.

"I know what Saint-Etienne represents for its community and for French football," Tanenbaum said in the statement, calling the club from central France "the beating heart of a city and its region."

Saint-Etienne are 10-time champions of France, though not since 1981, when their star player was French great Michel Platini. Their 41,000-seat stadium is one of the venues for the men's and women's soccer tournaments at the Paris Olympics.

The pending deal was announced as Saint-Etienne prepares to end the second-tier regular season needing to win at Quevilly on Friday to stay in contention for a runner-up finish.

Saint-Etienne, who were relegated two years ago, are assured of at least a third-place finish and entry into a promotion playoffs bracket involving four teams.

The club said it wanted to "ensure an ambitious future" with a new owner that was "trusted, experienced and financially solid."

Tanenbaum is the chairman and CEO of Kilmer Group and chairman of the board for Maple Leaf Sports and Entertainment, which owns the Raptors and Maple Leafs. Kilmer also is reportedly being awarded a franchise in Toronto for a WNBA team.

Saint-Etienne say the deal was being negotiated for Kilmer by Ivan Gazidis, the former CEO of Arsenal and Inter Milan.

Yep, the beginning of selling all his holdings and getting out of the business.

Now we know exactly why he hired Gazidis and why he sold a non-voting share for capital to OMERs.

ya this was always the play. Larry going hard now building his own outfit. Credit to him still going hard at 80

hopefully Larry is able to buy out the Raptors one day and own them completely. Hopefully in a few years

[ForeverTFC]

https://www.espn.com/soccer/story/_/id/40140685/saint-etienne-purchase-toronto-raptors-maple-leafs



Yep, the beginning of selling all his holdings and getting out of the business.

Now we know exactly why he hired Gazidis and why he sold a non-voting share for capital to OMERs.

ya this was always the play. Larry going hard now building his own outfit. Credit to him still going hard at 80

hopefully Larry is able to buy out the Raptors one day and own them completely. Hopefully in a few years

My hope is that the $8b price tag he put on MLSE last year appreciates higher and the Raptors rightly become valued as the most expensive MLSE property. Maybe he can then negotiate his ‘26 buyout to buy the Raptors.

[WuTang_OG]

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[DreamTeam09]

ya this was always the play. Larry going hard now building his own outfit. Credit to him still going hard at 80

hopefully Larry is able to buy out the Raptors one day and own them completely. Hopefully in a few years

My hope is that the $8b price tag he put on MLSE last year appreciates higher and the Raptors rightly become valued as the most expensive MLSE property. Maybe he can then negotiate his ‘26 buyout to buy the Raptors.

Not a chance they pay him 8billion to leave, that doesn't even make financial sense.

[ForeverTFC]

hopefully Larry is able to buy out the Raptors one day and own them completely. Hopefully in a few years

My hope is that the $8b price tag he put on MLSE last year appreciates higher and the Raptors rightly become valued as the most expensive MLSE property. Maybe he can then negotiate his ‘26 buyout to buy the Raptors.

Not a chance they pay him 8billion to leave, that doesn't even make financial sense.

He only owns 25% of it, so if there is no appreciation over the next 2 years (unlikely, as at minimum rates should come down), it will cost Rogers and Bell $2b to buy Larry out; a billion each.

If we go by relative valuation of MLSE's franchises, the Raptors are the jewel of the portfolio at ~$4b (roughly what the Suns, Mavs and slightly above what the Bucks sold for over the last 2 years). Is there a world where Larry can let go of the rest of MLSE, get a group of investors together, and carve the Raptors out of the organization? I hope so, but I doubt Rogers and Bell let go that easy, especially Rogers.

[Merit]

My hope is that the $8b price tag he put on MLSE last year appreciates higher and the Raptors rightly become valued as the most expensive MLSE property. Maybe he can then negotiate his ‘26 buyout to buy the Raptors.

Not a chance they pay him 8billion to leave, that doesn't even make financial sense.

He only owns 25% of it, so if there is no appreciation over the next 2 years (unlikely, as at minimum rates should come down), it will cost Rogers and Bell $2b to buy Larry out; a billion each.

If we go by relative valuation of MLSE's franchises, the Raptors are the jewel of the portfolio at ~$4b (roughly what the Suns, Mavs and slightly above what the Bucks sold for over the last 2 years). Is there a world where Larry can let go of the rest of MLSE, get a group of investors together, and carve the Raptors out of the organization? I hope so, but I doubt Rogers and Bell let go that easy, especially Rogers.

This is a dream scenario.

[WuTang_OG]

This pretty much confirms Bell / Rogers buying out Larry. He's making quick work and setting himself up nicely. He knows what he's doing to get a wnba team and football club so quickly
Pelley will serve as the new Larry in a way .. even though not on the board, he's the man repping the board and all teams report into him
Once PWHL is ready to sell franchises, I bet Larry will be buying that too

[hype_2004]

This pretty much confirms Larry is out in 2006, no? Man, it's going to suck.

Hopefully not. I think it’s more about him getting the freedom to operate without the influence of bell and rogers. I don’t see him leaving MLSE.

He may have no choice. Apparently there is an option for Bell/Rogers to buy him out of MLSE in 2026. We're going to be at the mercy of Bell and Rogers if they choose to do so.

That's not gonna happen you can't buy out Tanenbaum unless he wants out, he has a lot of power trust me, it's goes beyond Rogers and Bell.

[Zeno]

Is there any chance that we see a split of Rogers and Bell where Rogers gets Leafs/Marlies and Bell/Larry get Raptors/TFC

[ForeverTFC]

Hopefully not. I think it’s more about him getting the freedom to operate without the influence of bell and rogers. I don’t see him leaving MLSE.

He may have no choice. Apparently there is an option for Bell/Rogers to buy him out of MLSE in 2026. We're going to be at the mercy of Bell and Rogers if they choose to do so.

That's not gonna happen you can't buy out Tanenbaum unless he wants out, he has a lot of power trust me, it's goes beyond Rogers and Bell.

I hope so, but my understanding is that the original sale to Rogers and Bell included an option that they can buy Tannenbaum out in 2026. Grange was going around 2 months ago making it out as if it's pretty much a formality (he took it a step further and said Rogers will also eventually buy Bell's share).

Under the ownership agreement, the two telecom partners have the right to buy out Tanenbaum by July 2026, according to sources, and are expected to do exactly that.

https://www.sportsnet.ca/nhl/article/with-mlse-ownership-and-teams-in-flux-keith-pelley-will-have-hands-full-in-new-role/

Rogers employee cites "sources" telling him Rogers will exercise their option to buy Larry out..

[navyblue]

Damn I knew masai was paid well, but seeing 15 mil per year plus bonuses tied to franchise value. I would have balked at giving him that as well.

[navyblue]

Hopefully not. I think it’s more about him getting the freedom to operate without the influence of bell and rogers. I don’t see him leaving MLSE.

He may have no choice. Apparently there is an option for Bell/Rogers to buy him out of MLSE in 2026. We're going to be at the mercy of Bell and Rogers if they choose to do so.

That's not gonna happen you can't buy out Tanenbaum unless he wants out, he has a lot of power trust me, it's goes beyond Rogers and Bell.

Unless they build another arena in Toronto, I don't see scotiabank arena/leafs/raptors splitting up.

[Tor_Raps]

Damn I knew masai was paid well, but seeing 15 mil per year plus bonuses tied to franchise value. I would have balked at giving him that as well.

When you consider how he's performed since given that contract, Ed Rogers was right in hindsight lol.

[Merit]

Damn I knew masai was paid well, but seeing 15 mil per year plus bonuses tied to franchise value. I would have balked at giving him that as well.

When you consider how he's performed since given that contract, Ed Rogers was right in hindsight lol.

Even a broken clock is right twice a day.

[ForeverTFC]

Damn I knew masai was paid well, but seeing 15 mil per year plus bonuses tied to franchise value. I would have balked at giving him that as well.

When you consider how he's performed since given that contract, Ed Rogers was right in hindsight lol.

Even a broken clock is right twice a day.

I don’t understand why fans care how much execs and coaches make. It has no impact on the cap. I’d rather Masai and Bobby make that money than Ed, that’s for sure.

With that said, the crazy part is not how well paid Masai is. It’s that the Wizards offered more and Masai chose to stay.

[douggood]

When you consider how he's performed since given that contract, Ed Rogers was right in hindsight lol.

Even a broken clock is right twice a day.

I don’t understand why fans care how much execs and coaches make. It has no impact on the cap. I’d rather Masai and Bobby make that money than Ed, that’s for sure.

With that said, the crazy part is not how well paid Masai is. It’s that the Wizards offered more and Masai chose to stay.

its about the relativeness to other executive salaries around the league. remember reading a few, tim connely signed 5 year 40 with twolves, bob meyers was making less than 10 per and wanted more and gsw balked at that. morey got like 12 per.

he signed a 5 year 75 mil deal with bonuses on top of that, that is excessive. and i am not speaking retrospectively. even coming off a championship i would have felt like masai is taking advantage of the situation and balked at that, cause it doesnt count towards cap and mlse can afford it they caved.

[DatHomieYouHaTe]

This pretty much confirms Larry is out in 2026, no? Man, it's going to suck.

He hasn't done much to be honest other than that championship in 2019.. ATM it's not looking great so him going isn't that big of a deal when you look at it closely.

[Fairview4Life]

This pretty much confirms Larry is out in 2026, no? Man, it's going to suck.

He hasn't done much to be honest other than that championship in 2019.. ATM it's not looking great so him going isn't that big of a deal when you look at it closely.

The Raptors value went through the roof after the 7 years pre championship and then championship, which you can't actually just hand wave away. We've had 2 sub .500 seasons in over a decade.