Behind every billionaire there is a story!

Toronto billionaire eyes Leafs empire

Toronto billionaire Alex Shnaider, a one-time team owner in the prestigious Formula One auto racing circuit, has his sights set on another blue-chip sports investment: the Toronto Maple Leafs.

Shnaider has been consulting in recent weeks with investment bank and industry contacts about how much money it would take to pry the Leafs’ parent company – Maple Leaf Sports and Entertainment – away from its owners, say two sources familiar with the matter.

A spokesperson for the Russian-born Shnaider confirmed to the Toronto Star that he has “initial interest” in the juggernaut sports holding company.

Shnaider has not yet formally contacted MLSE but has participated in meetings with investment banking officials with former Maple Leafs forward Tie Domi, sources say. Domi and Shnaider have been friends for years and Domi may have insights into MLSE’s hockey operations, the firm’s backbone. 

The 39-year-old Shnaider is contemplating an offer at an interesting time. Under terms of its shareholders’ agreement, MLSE, whose owners include the Ontario Teachers’ Pension Plan, TD Bank, CTV Globemedia, and real-estate tycoon Larry Tanenbaum, is required to periodically commission an independent valuation of MLSE.

read the rest published by The Star here:

http://www.thestar.com/article/291221