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MLSE’s Leiweke Stepping Down to Run His Own Business

Aug. 21 (Bloomberg) -- Tim Leiweke will step down as chief executive officer of Maple Leaf Sports & Entertainment Ltd. by June after vowing last year to transform two of Canada’s most valuable sports teams into winners.

Leiweke told MLSE’s board he plans to leave the Toronto-based company to own and run his own business as soon as a replacement is found, or by June 30, Chairman Larry Tanenbaum said in an e-mailed statement today.

Leiweke joined MLSE, owners of the Toronto Maple Leafs hockey team, in June 2013 after 13 years with Anschutz Entertainment Group, which owns the Los Angeles Lakers and Los Angeles Kings.

He hadn’t been on the job for more than two months when he said in an interview with Bloomberg News that he had already planned a parade route for when the Maple Leafs win the National Hockey League’s Stanley Cup championship, a feat the team hasn’t accomplished since 1967.

MLSE is co-owned by Rogers Communications Inc. and BCE Inc., the country’s largest wireless companies.

His year in charge had already garnered some results for MLSE’s teams. The Toronto Raptors National Basketball Association team made a surprise run to the play-offs and the Major League Soccer team Toronto FC acquired U.K. player Jermain Defoe.

To contact the reporter on this story: Gerrit De Vynck in Toronto at gdevynck@bloomberg.net

To contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net Steven Frank

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