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Maple Leaf Sports and Entertainment does not rule out one day acquiring a Premier League soccer team. But it has serious concerns about the sport's structural issues - notably its lack of a salary cap - and questions about competitiveness beneath the dominant four clubs.
It is nowhere close to following the path to the Premiership taken by some of its fellow owners in the NHL.
"It's very, very premature. And make sure you add the second very," MLSE president Richard Peddie said.
A recent visit by Peddie and chief financial officer Ian Clarke to several British clubs, including Southampton, Sheffield Wednesday and Reading, and stadiums sparked speculation that MLSE is seeking to get into the lucrative British soccer game. But that was not the purpose of the trip, Peddie said.
The rationale "was more about learning than buying," he insisted. "We really went over there to improve our soccer knowledge. We have a steep learning curve."
But the company has also said it is always open to new opportunities, and British soccer has become the flavour of the month for acquisitive sports operators from Russia and the Middle East to North America.
From the NHL alone, the list includes Colorado Avalanche owner Stan Kroenke, who holds 12 per cent of Arsenal FC, and Montreal Canadiens' George Gillett Jr. and Dallas Stars' Tom Hicks, who teamed up to acquire Liverpool FC in a fractious partnership.
MLSE got into the North American soccer business in 2006, when it acquired a Major League Soccer expansion franchise that became an overnight financial success with sold-out crowds of 20,000-plus at BMO Field and booming merchandise sales. Mo Johnston, Toronto FC's director of soccer, and head coach John Carver have an intimate knowledge of the sport here and in Britain, but MLSE's upper-echelon executives don't. The company's auditor, Deloitte, which has a large soccer-consulting practice at its London office, arranged the meetings for Peddie and Clarke with some of Britain's leading soccer executives.
What they found were both the good and bad traits for which British soccer is known: Terrifically loyal fans packed into largely antiquated stadiums with lousy customer service; and teams that place a huge emphasis on scouting and player development.
"We're hoping to tap into their best practices," said Peddie, noting with admiration that some clubs employ as many as 30 to 50 scouts and run training academies for young players.
The British clubs also have strong brands and a lucrative television deal that is only going to get richer in coming years thanks to the growth of the global audience for their product.
On the stadium front, the British operators have a lot to learn, though. MLSE's concessions revenue, for example, is nearly four times higher than what some British clubs pull in with larger crowds.
But although MLSE has considerable expertise in managing sports facilities, Peddie said the company is not interested in running any stadium that isn't home to one of its own teams.
To that end, the company is dropping its management of General Motors Centre, home of the junior Oshawa Generals, in June.
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MLSE properties
Toronto Maple Leafs (NHL).
Toronto Raptors (NBA) .
Toronto FC (Major League Soccer).
Toronto Marlies (American Hockey League).
Leafs TV.
Raptors NBA TV.
Air Canada Centre, the home stadium of the Maple Leafs and Raptors.
Manages and operates BMO Field, Toronto FC's stadium, and Ricoh Coliseum, the Marlies' arena, in Toronto.
