Jimmy's time has come

News item: Teachers in talks to sell MLSE controlling stake

There’s only one person who can bring himself to pay more than Rogers Communications (RCI:TSX) for a controlling stake in Maple Leaf Sports and Entertainment, and that’s Research In Motion CEO Jim Balsillie. Assuming the Toronto Star has great sources, a $1.3 billion valuation for 66% of MLSE seems steep. But given Mr. Balsillie’s love for hockey and basketball, and the proven business model, he has to consider getting into the bidding game.

We were fans of his “Make it Seven” Campaign, but this transaction needs to be approached with more delicacy. Not only due to the hard feelings at the NHL, but also given the strong support Rogers has shown to RIM over the past decade.

I know that Gary Bettman would hate the idea, but there’s a built-in foil already in place in the form of MLSE Chairman Larry Tanenbaum. Mr. Balsillie could easily ask Mr. Tanenbaum to be the representative on the NHL Board, while our Tech CEO serves with David Stern at the NBA in New York. Who really wants to go to more Board meetings, anyway?

You only live once, Jimmy. Your time has come. And we’d be happy to “lead” the debt financing round.

MRM