MLSE Labeled as a Tax Debtor?
As most NHL fans know, MLSE, or Maple Leaf Sports and Entertainment, is one of the most valuable corporations in the entire league and professional sports. This company owns multiple properties and several teams that fall under its purview, turning it into an economic giant for the city of Toronto and the surrounding area.
MLSE is widely recognized as the owner of the Toronto Maple Leafs, Toronto Raptors, and Toronto FC soccer teams. However, despite its status as an almighty and powerful corporation, it has recently found itself labelled as a tax debtor.
This label is certainly uncommon for an organization of this nature, and it is rather peculiar that MLSE is facing such trouble with the city of Toronto. They have been notified that they owe $1.18 million in back taxes from the year 2019. Negotiations between MLSE and the city of Toronto have been underway to resolve this issue, but it has now become a topic of discussion in the news and City Council meetings.
This dispute has been ongoing for many years, primarily revolving around BMO Field. This field is situated on Exhibition Place, which happens to be city-owned property.
As Maple Leaf Sports and Entertainment tries to find ways to reduce their taxes, the city argues that they should be taxed at the regular rate. It appears that this dispute will persist until a resolution is reached.
Meanwhile, it's important to note that this situation will not impact the hockey operations in any way, and the Maple Leafs will continue to adjust their roster to comply with the $83.5 million salary cap for the upcoming season.
