Argo talk on Primetime Sports 590

[Neely2005]

Since there are rumours of Rogers selling the Jays that could be why they're interested in the Argonauts. Probably a much better ROI on a CFL team with the Salary Cap and smaller TV rights fee.

[smokeslet'sgo]

Since there are rumours of Rogers selling the Jays

Source? I haven't heard this at all. (no intent to discredit you at all)

[rdavies]

Source? I haven't heard this at all. (no intent to discredit you at all)

Rogers exploring possible sale of Toronto Blue Jays, CFO says
Chief financial officer Tony Staffieri also mentioned the company is considering selling off its stake in Cogeco.
Natalie Wong Toronto Star December 5, 2017

Rogers Communications is considering selling assets such as baseball’s Toronto Blue Jays and a stake in media company Cogeco Inc. to free up capital for other investments, chief financial officer Tony Staffieri said.

The Toronto-based telecommunications giant wants to get more value for the assets, though no deal is imminent, Staffieri said at the UBS Global Media and Communications conference in New York.

Rogers plans to increase investments in its wireless network as part of a plan to capture a surge in data use, chief executive officer Joe Natale told the Globe & Mail this week. Rogers shares have soared 26 per cent this year, outpacing rivals Telus and BCE (Bell) by more than double, as wireless revenue soared and customer retention improved.

The company has said before that it’s exploring ways to get more value from its portfolio of assets, including the Jays, but Staffieri’s comments Tuesday were more specific. Rogers still wants rights to sports programming but doesn’t have to own a team to have that, he said, pointing to the company’s 12-year deal with the National Hockey League.

Rogers’ media business made up about 15 per cent of sales last year but only about 3 per cent of operating profit, according to data compiled by Bloomberg.

The company has been a longtime investor in Cogeco and now holds about a third of the media company and a fifth of its cable unit, Cogeco Communications Inc.

“There were some strategic benefits that we had hoped for with Cogeco and those seem to be further and further away,” Staffieri said. “As we think about an environment where interest rates start to go up and compare it to the yield that we’re getting on the asset today, we think there’s probably better use for that capital.”