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Who Owns The Toronto Raptors?
The team was founded by then-Maple Leaf Sports & Entertainment Ltd. (MLSE) owner Bruce McLaren, who purchased an expansion franchise for Toronto from the NBA in 1993. Home games were first held at the SkyDome before moving to the Air Canada Centre in 1999.
Following McLare’s death in 2001, the Raptors were purchased by his estate and subsequently acquired by Rogers Communications in 2004. In the summer of 2014, MLSE announced that it had agreed to sell the Raptors to a group led by Larry Tanenbaum and Bell Canada’s BCE Inc. and Rogers Communications for an estimated value of $1.07 billion.
The current owner of the Toronto Raptors is Larry Tanenbaum, who owns 25% of the team. He is also the chairman of MLSE, which owns the Raptors’ arena, the Air Canada Centre, as well as other Toronto sports teams, such as the Maple Leafs (NHL) and Toronto FC (MLS). BCE Inc. (which owns Bell Canada) and Rogers Communications each own 37.5% of the team.
According to Forbes, as of the 2023-2024 season, the Toronto Raptors are worth $4.4 Billion dollars. This makes them the 11th most valuable National Basketball Association (NBA) franchise.
About The Toronto Raptors Franchise
The Toronto Raptors are a Canadian professional basketball team based in Toronto, Ontario. The Raptors compete in the National Basketball Association (NBA) as a member club of the league’s Eastern Conference Atlantic Division. They play their home games at the Scotiabank Arena, which they share with the Toronto Maple Leafs of the National Hockey League (NHL).
The team was established in 1995 as part of the NBA’s expansion into Canada and the Vancouver Grizzlies. Since purchasing the Grizzlies in 2001, NBA owner Michael Heisley moved them to Memphis, Tennessee, where they were renamed the Memphis Grizzlies. Along with the Seattle SuperSonics, who relocated to Oklahoma City and became the Oklahoma City Thunder in 2008. They are also the only Canadian-based team in the league.
In their almost three decades of existence, the Raptors have developed a rivalry with the New York Knicks and also have rivalries with the Philadelphia 76ers, Detroit Pistons, and Indiana Pacers. The team has reached the playoffs 13 times in franchise history, winning seven Atlantic Division championships. They won their first NBA Finals in franchise history when Kawaii Leonard led them past the Gold State Warriors in 2019.
