A shitty sports team in Toronto is as common as a cold day in Anchorage. So far this year, the Maple Leafs had their worst season start in franchise history, the Raptors' defense fared so miserably that Chris Bosh admitted they were “a bad team,” and the Toronto FC had their playoff dreams shattered with a 5--0 loss to Major League Soccer’s worst team. So, besides sucking, what’s the common denominator between all three clubs? Well, they’re all owned by Maple Leaf Sports and Entertainment Ltd., a $1.75 billion enterprise that banks about a hundred million dollars in profit a year, making it one of North America’s most successful sports and entertainment organizations. Yet, curiously, every team it touches turns to dust.
Perhaps it’s got something to do with MLSE being under the dominion of its Lord High Exchequer, Richard Peddie, and his majestic shareholders, the Ontario Teachers’ Pension Plan (OTPP). Something tells us the former Hostess Potato Chips manager and mob of active and retired teachers aren’t very passionate about sports—and it’s not just that they were named the NHL’s worst owners by Sports Illustrated this year. It could also be that they’re clearly more passionate about the almighty Return on Investment. So don’t blame them for neglecting teams and scrimping on budgets in order to map out five-hundred-million-dollar condo developments, tap fruitful revenue streams, acquire sports facilities with the help of the public purse, and sit on their $488 million cash cow, the Maple Leafs. You see, MLSE doesn’t need a winning team to sell out the ACC every night. And just to drive the point home, this season it decided to hike Leaf ticket prices by 3.5%! Amidst a recession!
