Rivals buy stakes in MLSE: What will it mean for TFC? 9 Dec 2011 But, until we see how Bell and Rogers react to each other in the boardroom, it’s hard to figure out how it will change the governance of any of the sports properties. Remember, that, unlike the reign of the Pension Fund, no one here has a majority stake in MLSE. So, the guess would be that more, not less, decision-making would be tied up at the board level.