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CEO Tim Leiweke leaving MLSE, which owns the Raptors

Aug 21, 2014, 3:04 PM EDT

Masai Uriji; Drake; Tim Leiweke Masai Uriji; Drake; Tim Leiweke

Tim Leiweke played a major role in getting Staples Center built in Los Angeles, and most recently, has been the CEO of Maple Leaf Sports and Entertainment, which owns the Toronto Raptors.

Rumors began to surface that Leiweke would be leaving the company on Wednesday, and he even issued a denial.

But a day later, MLSE has confirmed that Leiweke is in fact stepping down.

From The Canadian Press:

Maple Leaf Sports & Entertainment has started looking for a new chief executive officer.

Current CEO Tim Leiweke will continue in his role until June 30, 2015 or until a successor is appointed, MLSE said Thursday in a statement. …

Leiweke, who also serves as MLSE president, joined the company in April of 2013. He plans to pursue his goal of owning and operating his own business following his departure from MLSE.

“It’s an honour to lead MLSE, a world-class organization in a city and a country so passionate about sports. But with new opportunities on the horizon, it’s time for me to begin the transition from sports and entertainment executive to entrepreneur,” Leiweke said. “Right now, my total focus is here at MLSE and I look forward to working with the Board and MLSE team to continue strengthening our franchises while ensuring a smooth transition to a new leader.”

It’s unclear what Leiweke’s next step will be; the rumor is he wants to come back to Los Angeles and run the Clippers for new owner Steve Ballmer, or perhaps work with the NFL instead.

In addition to the Raptors, MLSE owns the NHL’s Maple Leafs and Toronto FC of Major League Soccer. Leiweke was instrumental in helping to bring the NBA’s All-Star weekend to Toronto in 2016.

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