Ontario Teachers' Pension Plan?

Question

Can you please explain to me how the Ontario Teachers' Pension Plan works?

How did they(who exactly are they?) become the majority owners of MLSE?

Who are 'they' exactly? Please dumb it down for me in simple terms.

****No wikipedia references!****

Answer 1

i'm not going to answer your question (haha i know. what a way to start off an answer), but i'm already really sad about bourdon's passing, and i don't need something to make me angry today so i'm going to pass, but let me tell you some things that have been on going about the mlse/otpp, some debacles, gossips, nightmares. i love my teachers, i just hate the coaliton that is the otpp, and and i swear on my mother (so you know it's serious), they're really greedy *** intelligent people (but you'd be the same if your pension was locked in this fund and you were/are a teacher in ontario and you have kids, house, bills, etc... to look after).

anyways MLSE wants to buy LEEDS UNITED  (i know. first it was tottenham, then sheffield, now leeds...kill me now. why the f won't they buy derby...they'd still make their stupid **** money).

and also ottp bell buyout, the debacle of memorial day weekend. would totally be the best thing if this deal didn't go through or was investigated and held up for years, so that both sides would lose out cause i hate bell, and i hate the ottp.

and surprisingly the teachers of the otpp are mostly leafs fans (shocker).

oh well as i see reading over these answers (which i sould have read over first eh), i guess i'm not the only one who gets the saga news of mlse corp and ottp.

i can't wait for both those three, mlse, otpp, bce all go to the nether world.

lol. talk about des time for the teachers, i hear the profs are way worse...or atleast they used to be before all these rules/regs came into place with the teachers in elementary/highschool sector. i remember when they didn't have designated time and my teachers would complain their *** off, and although after harris came in and screwed us all, there was still complaining but it's a two edged sword...they know they're getting paid for being c**p (well atleast some of them realise it), and my statement about the teachers loving off the leafs...or thinking they could be hockey players (those idiots. it's mostly a toronto based thing because as a product of thier system i can't tell you how many hours in my life were spent discussing the leafs, mlse, ottp, and of course how we'd all like mike harris to drop dead and buy poor people like myself who can't afford free education a ****** free pencil and paper). i'm just bitter. the 45 minute detentions were funny, 15 minutes free time :P, and even worse was the fifteen minutes they refused to work for in the morning but expected to get paid because it was before school hours. 9:15 school start=many late days.

This is what they have on their website. I do love my teachers, and I’m really grateful to them, but i think of the otpp as king kong on roids and I don’t understand why all these teachers complain about their hours and the money they make, but their retirement fund is completely solid and they really have nothing they should be complaining about (unless they teach in a bad area in Rexdale/Scarborough), and for goodness sake they can take some of that golden money and invest back in the ****** system that they work in.

“with $108.5 billion in net assets, the OTTP is the largest single prof pp in Canada.”

Uhm maybe they should atleast try to invest in the communities across Ontario instead of the f’n maple leafs, and that’s coming from someone who loves sports.

"Ownership

As of 2003:

58% - Ontario Teachers' Pension Plan

15% - CTVglobemedia

14% - TD Bank Financial Group, through TD Capital Group

13% - Kilmer Sports Inc. (Owned by Larry Tanenbaum)

Maple Leaf Sports & Entertainment Ltd. Board of Directors:

Larry Tanenbaum - Kilmer Sports (non-executive chairman of the board)

Richard Peddie (president and CEO)

Jim Leech - Ontario Teachers' Pension Plan

Robert Bertram - Ontario Teachers' Pension Plan

Dean Metcalf - Teachers' Merchant Bank

Ivan Fecan - CTVglobemedia

Robert MacLellan - TD Capital Group

Dale Lastman - Goodmans LLP"

http://en.wikipedia.org/wiki/Maple_Leaf_...

http://en.wikipedia.org/wiki/Ontario_Tea...

also i'm aware that without the pp's investment in some things, certain places/companies wouldn't still be in good business today, so i will just say that i appreciate shoppers dm...and i guess when i become a teacher i'll appreciate the otpp. aside from that them and sports should stay away from the other.

Answer 2

The Ont. Teachers Pension Plan invested in MLSE, and are therefore part owners of the Leafs. Their interest in primarily financial, and don't get involved nor seem to care about the on-ice product. The Leafs will never be good until they have an ownership dedicated to winning, and not making money ONLY.

Answer 3

It's all been said. Every Leafs fan has the right to tell a teacher off in Ontario because of this mess. Coming out of the Ontario school system, I can honestly say that only a handful (less than 5% I'm guessing) give a c**p about the kids they are teaching. The rest are just concerned about getting out of there at their designated time (I think 4pm...all of my detentions lasted until 3:45...).

Answer 4

WHAT???!!!???

I think you have the wrong category.

Answer 5

During the Mike Harris days..and his "reported" cuts to the education system...it was calculated that if indeed the Harris government WAS cutting 500 million from the education system, it would be equivalent to 7 DAYS of interest from the OTPP. Go figure. They are now poised to also own BCE.

Answer 6

They were asked to invest by a certain owner. Eventually they became the majority owner when that said owner became broke.

Answer 7

In the school room there is a big person at the front of the room. This person is the teacher. He/she gets paid for doing whatever it is that they do.

When they get old they don't want to do this job forever so they save for their retirement. The money that they save for their retirement goes into a big building on the corner called a bank. The managers of this bank take this money and invest it for the teachers so they will have enough money when they get old so they won't have to work anymore.

One of these smart bankers had a bright idea and thought that they should invest in the Toronto Maple Leafs hockey team by buying some stock. When one of the team owners was trying to raise capital to leverage out his partners he asked these bankers to lend him the money to buy out his partners. He gave these bankers shares in this company and today with this shrewd investment the Ontario Teachers Pension Fund owns a majority of the shares in Maple Leaf Sports and Entertainment, which owns among other things the Toronto Maple Leafs, the Toronto Raptors, the Toronto FC (MLS soccer team), the Air Canada Centre and BMO field (soccer stadium). They are investors and that is all. They are not the problem with the Toronto Maple Leafs.

As with all businesses the board of directors hire executives to run the day to day with their business. One part of this business is the Toronto Maple Leafs hockey franchise. The people who have been hired to run this organization think that they understand the sport and make their decisions thusly. They have had their peepees whacked by the board and have been told to get their house in order. Because they are business men they have been trying to run this as a business and it just doesn't work like that.

Reason appears to have taken over now and something as simple as being told that they can't have whoever they want as President may be the spark that will change the system.

All of this and what LITY said.

Answer 8

The Ontario Teachers Pension Plan is an investment company that invests money for the Unionized Teachers of Ontario.

They are operated like a large mutual fund, except that only Teachers can buy into it.

In the late 90s, the OTPP provided funding that allowed Larry Tanenbaum to buy out Isaiah Thomas of the Toronto Raptors, and a few months later, they provided Larry Tanenbaum with the funding to gain majority control of the Toronto Raptors and the ACC project.

At this point in time, the Leafs were 100% owned by Steve Stavros.  

The original owner of the Raptors, John Bitove, and Steve Stavros were enemies.............as they both headed large food service companies in Ontario (Bitove owned a caterer and Stavros owned k**b Hill Farms).  Once Bitove was out of the picture, and with Maple Leaf Gardens falling apart and unable to be further refurbished, Stavros and Tanenbaum started getting together.

Again, using OTPP money, Tanenbaum and Stavros were able to get together and form MLSE.  Originally Stavros was the controlling shareholder.  As k**b Hill Farms started to have financial issues, Stavros started selling off his portions of MLSE to the OTPP and BellGlobemedia.

After Stavros died, the rest of his shares were purchased by Tanenbaum, the OTPP, and BellGlobemedia.  

A few years ago, the OTPP gained shareholder control of MLSE by buying out BellGlobeMedia's portion (and in return became the largest shareholder of BellGlobeMedia).

Larry Tanenbaum is still the Chairman of the Board, and he has 4 men on the board compared with OTPP's 3.  However, OTPP has the monetary clout.

There was an article in the National Post 2-3 years ago which put almost all of Tanenbaum's ownership on the Raptor's side of MLSE (at one time the OTPP was looking at selling the basketball business side of things but keeping the Leafs and ACC) and left OTPP as owning roughly 90-95% of MLSE and the ACC.

Diane Francis of the National Post and an unnamed co-writer were going to write a book about the OTPP's ascension to power in Leaf Nation, but it has yet to happen.

Answer 9

i can't answer your question but did anyone know that MLSE are trying to buy the English soccer team, Leeds United

they used to be one of the best in Europe, but ran out of money and are now in the 3rd tier of English football

i'm thinking that they can't run a hockey team properly, what chance do they have with soccer