>> Canadian telecommunications and media company, Rogers Communications, is looking to generate money from its ownership of Canada's only Major League Baseball team, the Toronto Blue Jays, valued at $1.3 billion. While Rogers says it has no plans to sell the team, it's looking for ways to free up more cash to boost its balance sheet.
One way to generate cash could be through this stadium, the 30 year-old Rogers Center, which the company bought for $25 million in 2005. Reuters correspondent Alastair Sharp.>> For one, they can sell the stadium and lease it back, avoiding the multimillion dollar bill that they'd be on a hook for, for major renovations that many say are sorely needed.
>> They could also consider selling the naming rights, as seen with the Air Canada Centre, the home of Toronto's beloved hockey team the Maple Leafs.>> The nearby Canada Centre in which Rogers also has a stake is changing its name next year to the Scotiabank Arena, in a 20-year deal worth 800 million Canadian dollars.
>> Dealmakers say, another option would be for Rogers to spin off the team, creating a separate company that could raise its own funds to pay the athlete's salaries, finance stadium rents, and fund other operations. With some of the extra money, Rogers plans to buy additional wireless spectrum that is expected to be auctioned off by the Canadian government in 2019.
It could also spend of that money on hiring top talent for the Blue Jays, who have not had a World Series' title since 1993.