Even before the lockout went into full swing, Rogers was in the red with regards to their investment into Maple Leaf Sports and Entertainment, according to a Globe and Mail report.
Their partial ownership of MLSE — which controls the Toronto Maple Leafs, Toronto Raptors, Toronto Marlies, and Toronto FC — resulted in an loss of $8 million for the quarter that ended on Sept. 30.
It’s worth noting that the lockout only cost the Leafs two home preseason contests during that three-month period, so the revenue losses related to the NHL franchise probably wasn’t substantial. That likely won’t be the case for their next quarter if this lockout continues.
The Leafs generated about $200 million in hockey-related revenues last season even though they didn’t play in a single postseason contest.
They were the richest team in the league and paid out $20 million in revenue sharing. That figure could go up depending on the terms of the next CBA. Their profit margin might also increase if the player’s share of hockey-related revenues goes below the old 57% — which seems highly probable at this point.
At the same time, because the Leafs are the league’s richest team, they also stand to potentially lose the most in missed short-term profits if the lockout continues.