Here are my thoughts about the Ontario Teachers Pension Fund selling their stake in the Toronto Maple Leafs, Raptors, Marlies and FC, not to mention Air Canada Centre, to media conglomerates Rogers and BCE.
But with conglomerates, they generally tend to look at teams more as revenue generators for their properties. I think in this case it all comes down to attitude. If these new corporate owners only care about enriching themselves and selling a product, that will be a bad thing. But if they care about actually having a winning product and spending the money that needs spent to do it, that's different. Look at Labatt's when they owned the Blue Jays -- they actually cared about having a winning product on the field, and made sure the team was well-financed to acquire top players. It was more than simply about beer sales for them.
I say the only way you'll make money in the long run with these properties is if these teams win. I don't think you can count on the fans to shell out for products that don't perform on the field, the ice or the court -- even if the team is called the Toronto Maple Leafs. Seriously, all this losing by all these Toronto teams is testing the patience of the fans to no end. The new owners need to pay attention to keeping their suffering fans happy, otherwise they're going to have a very unhappy balance sheet in the long run.