TORONTO - The Toronto Maple Leafs owner Maple Leaf Sports and Entertainment is teaming with Live Nation Entertainment Inc. in a deal that will see it manage sponsorships and ticket sales for the American concert promoter in Canada's largest city.
MLSE said Monday it will sell and handle event sponsorships for Live Nation (NYSE:LYV) as well as ticket sales for the Live Nation-owned Molson Canadian Amphitheatre in Toronto.
Live Nation merged with event ticket seller Ticketmaster last year.
Financial details of the agreement were not disclosed, but Live Nation will help privately-owned MLSE if it chooses to proceed with preliminary plans to open a House of Blues club in downtown Toronto.
In a statement, Live Nation president and CEO Michael Rapino said Toronto is the third highest grossing event market in North America.
"Combining MLSE's strong venue expertise and marketing relationships with our entertainment content makes them an ideal partner for Live Nation," he said.
Both Live Nation and MLSE will continue to be free to mint deals with independent concert or event promoters at their venues.
MLSE owns the Toronto Maple Leafs hockey team and Toronto Raptors basketball team as well as their home arena, the Air Canada Centre.
It also owns the city's Ricoh Coliseum, which is home to the Toronto Marlies, the farm team for the Maple Leafs.
