September 18, 2025
The Empire Club of Canada Presents
The Courage to Change in The Pursuit of Championships
Chairman: Saurabh Popat, President, Board of Directors, Empire Club of Canada
Moderator
Michael Landsberg, Sports Journalist; Host, Off the Record
Distinguished Guest Speaker
Keith Pelley, President & CEO, MLSE
Head Table Guests
Nelson Lanza, Vice-President, Global Sponsorships, Scotiabank
Lola Kassim, Senior Director, General Manager, Uber Eats Canada
Welcome Address by Saurabh Popat, President, Board of Directors, Empire Club of Canada
Thank you. Thank you so much. If you can take your seats, please. Good afternoon, everyone. I’m Saurabh Popat, the new chair of the board at the Empire Club of Canada, and your host for today’s event.
To formally begin, I’d like to acknowledge that we are gathering on the Traditional and Treaty Lands of the Mississaugas of the Credit, and the homelands of the Anishinaabeg, the Haudenosaunee, and the Wendat Peoples. I encourage you all to learn more about the Traditional Territory on which you work and live.
Now, today’s event would not be possible without the generous support of our incredible sponsors. The Empire Club is a nonprofit organization, and our sponsors generously support the club, and make these events possible and complimentary for our viewers online. So, please join me in thanking our Lead Sponsors for today, Scotiabank and Uber. Thank you to our VIP Reception Sponsor, Rogers Communications. Thank you. And we also deeply appreciate the ongoing support of our Lead Season Sponsors, Bruce Power, Hydro One, and National Bank Financial Markets. And our VIP Reception Season Sponsors, Ellis Don, McKinsey & Company, the Ontario Road Builders Association, and Waste Connections of Canada. And finally, thank you to our Media Sponsor, the Toronto Star, and our AV Partner, Bespoke Audio Visual. Thank you.
If you have a question for our speakers, please scan the QR code found on your program, or through the Q&A function if you’re online. For those of you online, if you require technical assistance, please use the chat feature.
Now. Welcome, everyone, to our second event of the 122nd season of the Empire Club of Canada. This year, our theme is Building One Canada, a season that is all about the things that bring us together. And let’s face it, nothing brings Canadians together quite like sport. We see it during the Olympics. We see it during hockey season, which is just around the corner, when NHL fans band together to cheer for the Canadian team that has the best chance to win the Cup. And though I can’t be preferential here, at the podium here at the Empire Club, to any of our great Canadian teams, we are broadcasting from Toronto, after all.
Now, for what’s next. We will all be cheering for Team Canada, during the FIFA World Cup next year. [Applause] That’s right. Now, here’s a fun fact. The Empire Club was founded in 1903. But guess what? FIFA was founded a year later, in 1904. And next year’s World Cup will bring millions of fans to North America, generate millions more in economic impact, attract billions of viewers worldwide, and give We The North an unprecedented opportunity to showcase our country on the world stage.
But big opportunities also bring big challenges. Right now, we’re seeing how complex it is for the three countries in North America, Canada, the US, and Mexico, to work together to stage an event of this magnitude. And I don’t think I need to point out the obvious, that the working relationship between our countries is currently strained. But I’m optimistic it will be resolved soon. But even at the best of times, collaboration is rarely simple, whether in global sport, in business, or in politics. Yet when it works, we can achieve something together that we could never do alone. And that is also the lesson we carry into this season at the Empire Club. Building one Canada is about facing complexity with courage, finding common ground, and recognizing that our shared success depends on how well we work together.
For Toronto, the responsibility is enormous. As one of the host cities, we’ll welcome the world into our stadiums, into our neighbourhoods, and into our communities, and MLSE is playing a central role in making that happen. As the country’s epicentre of sport and entertainment, this city is home to some of our most iconic teams, and to Maple Leaf Sports and Entertainment, which has become a global force, and a champion for sport. MLSE is embracing change head-on in everything from ownership and management changes, to off-season moves, and now preparing Toronto to host the FIFA World Cup 2026. And in doing so, it’s showing what it means to courageously pursue championships.
We’re going to hear more today about that from Keith Pelley, President and CEO of MLSE. His keynote remarks will be followed by a fireside chat with a familiar face to many of us. But before we bring them to the stage, I want to recognize a partner who makes this work possible. Scotiabank is one of today’s Lead Sponsors, and they share the Empire Club’s belief in the power of sport to unite communities, and build lasting legacies. From their investment in grassroots hockey to their role in making Scotiabank Arena a world-class venue, they’ve shown time and time again that sponsorship can be about impact, inspiration, and connection.
To speak to that, it’s my pleasure to welcome Nelson Lanza, Vice-President of Global Sponsorships at Scotiabank. Nelson has been with Scotiabank for 14 years leading global sponsorships and spearheading the launch of the Scotiabank Arena, a project that earned international recognition. He brings deep expertise in marketing, and a genuine passion for connecting people through sport. Please join me, in welcoming Nelson.
Opening Remarks by Nelson Lanza, Vice-President, Global Sponsorships, Scotiabank
Thanks, Saurabh, for the warm welcome. Good afternoon, everyone. It’s really a pleasure to be here. It’s great to see this crowd. So, I have the pleasure of welcoming Keith. But before I do that, I just wanted to take a bit of time, and speak about Scotiabank’s partnership with MLSE. So, we’ve been partners for close to 15 years now. And I can truly say this is one of the most important, valued partnerships that we have.
In 2018, when we looked at expanding the partnership and the naming rights, I will say, it was about one year before the Raptors won the championship, so there’s a little bit of luck there. But it was also really important to us, when we talked about it, that it needs to be more than just a name on the building. So, one sign goes down, another sign comes up. It needs to be, and it needs to represent a commitment to Toronto, a commitment to our fans, and the greater community. And that needs to be at all levels, from grassroots right through to our professional leagues.
So, when we meet with MLSE, it’s really about how do we make our fan initiatives, how do we make an impact in what we do. And I think where we’re really starting to see grounds is we start to look beyond the contract, and we start to look at things that we can provide mutual value for both of our brands. And a good example of this was recently, in 2024, where we wouldn’t think this naming partner would want to do this, but we actually covered up all of our signs. And then we covered up all of our signs for a weekend only, when Drake came here for his homecoming. It was October’s very own arena, and it was really tremendous to see the support of the community for that. And speaking of the community, during COVID, we opened up the doors as one of the largest community kitchens and COVID vaccine centres for the community. And it doesn’t always have to be big, large initiatives; it can go down to things like girls and boys in youth clinics.
The next stage for us is really around bringing the fans closer to the game. I know this is something Keith is truly passionate about, and we’re truly passionate about it at Scotiabank, is how do we reward, how do we recognize our customers? So last year, we launched Scotiaperks. So, if you’re a Scotiabank customer, show your card, and you’re gonna get special benefits when you’re at the arena. Free popcorn, front of the line, seat upgrades, opportunities to win really interesting prizes and experiences.
Okay. Enough talking for me now. I think now is the time you guys are all here for. So, it’s time for me to introduce Keith. As President and CEO, Keith Pelley leads one of the world’s premier sports and entertainment companies. MLSE hosts more than four million fans in their venues each year. Keith was born and raised in Toronto, and spent nearly four decades on several high-profile sports, media positions here in Canada, and recently, abroad in the UK. He has a passion for Toronto’s sports culture, and a passion for the community. I think I can speak for everyone in saying we’re so proud and lucky to have Keith be part in leading the charge for our beloved sports teams. So, please join me, in welcoming Keith.
Keith Pelley, President & CEO, MLSE
Anybody have any idea who that artist was? I have no clue. But no doubt they played Scotiabank Arena sometime in the last year. So, thanks for the opportunity. Everyone must be excited today, because it’s the opening of training camp for the Leafs. [Applause]Yeah. Raptors just around the corner. The fall is a real exciting time at MLSE, with the Leafs and the Raptors, and everyone is full of optimism.
So, first and foremost, thank you for the unbelievable privilege and the honour to speak here at the Empire Club. The Empire Club has been around for 122 years, since 1903. The likes of Winston Churchill has spoken here, Audrey Hepburn, Bill Gates, President Reagan, Jordan Bitove—well, Jordan, Jordan would be very thrilled, like I am, to even remotely be in the same sentence of Winston Churchill. It truly is an honour and a privilege, and congratulations on the history of the Empire Club. Thank you for inviting us.
I have a couple of notes, in terms of, I want to just mention, but I only have a short period of time, and then I’m gonna get grilled, no doubt, by one of the, I think, most talented broadcasters I’ve ever worked with, in my 40 years in media and sports, and that’s Michael Landsberg. We first met back in the mid ‘80’s at TSN. And then some of you, perhaps, are as old as I am, but there’s a lot of people that don’t remember this, but back in 1989, there was an incredible investigation, and it was called the Dubin Inquiry, run by Charles Dubin. And it was all about finding out if Ben Johnson, 979, in 1988, in Seoul, Korea, was guilty of anabolic steroids. And Michael and I, for 92 days, in a period of three-and-a-half months, broadcasted eight hours a day on TSN. I was the producer, he was the host. There were 122 witnesses that appeared in the Dubin Inquiry, and all Michael would do would fill in between witnesses. So, sometimes we were filling, in terms of him talking for an hour straight. So, that’s when I realized how talented he was.
I had an opportunity to leave TSN, go down to the United States, I produced NFL Football for Fox. But when I came back as VP of Programming at TSN, I had a concept and an idea that now is kind of commonplace in the world of social, but to create a show where people just talk, right, and they’re just anybody, and it was called Off the Record. And I thought, who better to host the show than Michael Landsberg? It became a staple on TSN, at six o’clock to 6:30, for 18 years; started in 1997 to 2015. All the credit to Michael. And that’s when Michael became a celebrity, and I wanna congratulate him on Off the Record. In addition, I had the great honour to run the, Canada’s Olympic Broadcast Consortium in 2010. And one of the first things I did was hire Michael to be the host, in Whistler. He was absolutely incredible. He was so, so, so, so good. So, that’s as much buttering up I can do, as Michael—even if I do that, I know he’s still gonna ask me the tough questions, but I’ve tried as hard as I possibly can.
So, first and foremost, as I said, it’s the opening of training camp. Surabh talked about the power of sport, and it really is unbelievable. It can galvanize an entire city, it can take over an entire nation, and it can make people feel great. And we’re seeing that right now with the Toronto Blue Jays. I had breakfast this morning with their president, Mark Shapiro, and I know the feeling, goes like this, ups and downs, he hangs on every single pitch, but so do we, as fans. And I would like to give a shout out to our owners of MLSE, our majority owners, but the 100% owners of the Toronto Blue Jays, that have given Mark and his team the resources to see what you’re seeing today, and that is Tony Staffieri and Rogers, thank you very much.
So, what we’re gonna do, because this is about sports—and I know you’re a lot of business executives, but is everyone a sports fan in here? [Applause] Okay, so we wanna give a little bit of encouragement, so I’m gonna ask you to do something that probably, Winston Churchill didn’t do in his speech. I’m gonna ask you on the count of three, and a hardcore “Let’s go Blue Jays,” okay, you ready? I know you’re laughing, that doesn’t really happen at the Empire Club, very apt, but that’s about change, courage to change. Okay, you ready? One—and do it loud, okay? I know we’re business executives, but be a fan, pretend you’re not wearing a tie or a blazer. One, two, three, “Let’s go Blue Jays”. Yeah! All right. That’s fantastic. So, Tony and the Rogers team, best of luck for the rest of the season we’re pulling for you.
Now, we talked about the power of sports, and the power of MLSE. And I came back here a year-and-a-half, and I feel incredibly honoured, and touched, and humbled, to be the CEO of a storied franchise like the Toronto Maple Leafs, where I grew up watching my childhood team, the largest hockey team in the world. To have the opportunity to run the only NBA team in Canada, the Toronto Raptors, I wasn’t here in ‘29, to see the incredible We the North, which was created by Shannon Hosford, the Chief Marketing Officer of MLSE, who’s here with us today. We the North. And that captured the imagination of all Canadians, when the Raptors won in 2019, similar in 2017, when TFC won; the Argos last year, again, a long-standing franchise of 152 years. You heard the music there—I didn’t know who that was, I apologize for that—but our relationship with Live Nation brings more concerts to the city than any other organization. It really is incredible. But it comes back to that power of sport.
And we’ve used it at MLSE, we created, I’m not sure if any of you are familiar with MLSE Launchpad. It’s created down in Regent Park, in 2016. It’s touched over 30,000 kids. It is the largest provider of sports programming for youth in Ontario, and it was one of the most inspirational days that I’ve ever had at MLSE was spending the day at Launchpad. And the only question I came out of that was, why don’t we have more? And if you look at how it has transformed that area of Regent Park, and have given the kids an opportunity after school, you know, prior to school, to go to a place where there is programming orchestrated magnificently for them. It’s just not just a place to go. But rather than go out on the streets, as Chief Myron Demkiw would say, it gives us a great opportunity to keep kids early out of gangs. And what we are going to do is we’re going to make as many Launchpads as we possibly can, stay tuned for an announcement about the second one in the West End, which will transform the whole Jane and Lawrence area.
So, I’m very excited about the power of sport. But no more did I see that when I started at MLSE, the tribalism of it, right. I’d worked in golf as the commissioner of the European Tour, which only time you get any type of tribalism is during the Ryder Cup, when it’s Europe versus US—and next week that’s in Bethpage. But when I came here, I remembered what tribalism was. I’d seen it in European soccer, but it didn’t take long. When I came in the first three or four weeks, we were in the playoffs, and quickly got to game seven versus the Boston Bruins, and a heartbreak loss in overtime. Two days later, two days later, this big box arrives on my desk. And I look inside it, it has a Mats Sundin jersey, it has a Wendell Clark jersey, it’s got an Austin Massey jersey, it’s got scarves, it’s got hats, it’s got everything. And I went, wow. And it came with this letter that said, “May 6th, 2004, dear Mr. Pelley, I would like to congratulate on your appointment as MLSE. However, it’s with great sadness and disappointment that I’m writing this letter to you. I’ve been a dedicated and passionate fan of the Maple Leafs for over 50 years, and have endured many years of despair and disappointment. Unfortunately, after watching the same crew for the last five to seven years constantly underperform, I’ve had enough. I’m sending you my memorabilia, my Maple Leaf memorabilia, as I can’t take it anymore. I’m done, I’m through. Sad, but I’m done, and I don’t wanna watch a shitty hockey team any longer.” Wow, Domenic Rapini from Burlington. Okay? Love Domenic. We might make Domenic a visit with that Stanley Cup when we win. What do you think, in Burlington? Definitely going to see Domenic. So, there’s one other person that we’ll be going to. So, it was literally two, three weeks afterwards, I was driving up north to my place in Halliburton, and I passed by this house. I stopped, and I took a picture, and I wrote down the address. I almost went in, right, but I didn’t. So Domenic, and this gentleman here, or this lady here, will definitely get a visit when we hoist that Stanley Cup.
So, that is the power of sport. But why is the power of sport so strong? And it comes down to everybody in this world needs a sense of belonging. And Roy Baumeister and Mark Leary were two professors back in 1995, one from Duke, one from Princeton, and they wrote a paper on the sense of belonging. And what they talked about in that paper was not, not the fact that it was a want; it was an absolute need. Everyone needed a sense of belonging, and needed to be part of something. And that is the power of sport. And if you don’t, you would likely face mental and psychological challenges. And so, what can give you a sense of belonging more than sport? And that’s the power of sports, and that’s the responsibility that we have.
So, a lot of people talk about change. Now, I can tell you, Domenic would like change, so would the family that lives at that house up in Halliburton. Change is tough, change is hard. You have to have the courage to change, but if you’re not prepared to change, then you run the risk of falling behind in all facets of your business. The Harvard Business School wrote in 2012 that less than 10%, less than 10% of people that have a heart attack or bypass surgery make a major modification to their diet. And then it says right beside it, why? Change is hard. And we’ve seen it in every single business, right? We’ve seen Blockbuster. Blockbuster had 9,000 Blockbusters, at one particular time. Founded in 1985, they were sold to Viacom for 8.4 billion, in 1994. They now have one store, one store in Oregon. It’s pretty much of a library, right? And one of the reasons was their chief executive officer felt at that particular time that the .com era was a fad. And then a gentleman by the name of Reed Hastings came in from Netflix, and that was the demise of Blockbuster. He launched the direct, he launched the online DVD sales, and Blockbuster was six years before they did it. It’s a great story, the Blockbuster and the Reed Hastings, and if you get a chance, read No Rules by Reed Hastings. Phenomenal, phenomenal book.
There’s so many other examples that didn’t adapt to change, whether it be Kodak, whether it be Polaroid, whether it be Toys-R-Us. And there are some that did, like Lego. Lego quickly brought their entire marketing philosophy, along with Star Wars, and the Lord of the Rings, right? So if you think about it, tonight, you’ll all probably do it. At some particular time, you’ll look for some information, and you’ll Google something, right? That’s what we do, we Google it. The real reason is, why don’t we Yahoo it? Yahoo was created in 1994; Google was started in 1998. The only difference is, one kept changing, one kept modifying their business, one kept trying to get better and better, one liked search optimization, the other one just tinkered with it, they were okay.
The best example I can give you of change in sports that I’ve seen in recent months, or years even, was last week. The NBA Board of Governors meetings were last week. And Adam Silver, the commissioner of the NBA, he had just done a $75-billion-deal for 11 years. So, that gave stability to the league, stability to the franchises, and he could easily rest on his laurels. Instead, he started the Board of Governors meetings with, I wanna tell the board that the NBA front office is going through a transformational change. We are taking our marketing and our data, and we’re putting them together, while at the same time, we’re focusing on globalization. So, the $75-billion deal for 11 years was something that he went, okay. But now what do we do? What’s next? You have to always be forward thinking, right? So, we are looking to change our business. We obviously have made some changes from a hockey ops, and a basketball ops, and a football ops. But change is nothing to be scared about. Change is really just looking at evolving your business to make it better. But people get so, so scared of change.
We’re about to launch two massive initiatives. Only 2% of people get into Scotiabank Arena, and we’re about to launch an access program, Leaf Fan Access, Raptor Fan Access, that’s going to be launched at the start of the season. We’re also understanding that this still is a world of content. So, we’re doubling up on our content, and over the next four years, we are going to distribute 25 times more content on multiple platforms. We’re doing deals with TikTok, we’re doing deals with YouTube, we’re dealing deals with Meta. In order for you, in your businesses, and at MLSE, you need to be talking about change, and evolving to get better on a daily basis. And that is nothing to be scared about. That’s just something that is good business practice.
Now, my little light has turned to zero. So, I better call the legend, the icon, one of the greatest broadcasters of all time, who usually just throws up softballs to anybody that he speaks with. So, thank you. Thank you very much. I think it’s going to be a really exciting year for us. It is, for me, MLSE is about three things. We definitely want to be the preeminent sports and entertainment organization—not in Canada, but in the world. And in order to do that, we need a relentless pursuit of championships, we need to be an entertainment powerhouse, and we need to be a community titan. And those three things is MLSE. This is what we will work on every single morning, and every single day. And I’m excited about it. I’m thrilled about it.
We have an owner now, in Rogers, who owns 75% of MLSE. And as you can see, in what has transpired over the last couple of years with the acquisition of Shaw, the recent deal with the NHL, this gets us all excited, because we can focus on growth. We can focus on building our teams. We have the resources to do such. We can make ourselves far more of an entertainment powerhouse, using these incredible brands to drive engagement. And we can link the community in so many ways, starting by winning, and then starting by investing. So, on behalf of everyone in my entire management team, thank you for the privilege to speak for just a couple minutes at the Empire Club, and I will wait for His Majesty.
Saurabh Popat
That was incredible, Keith. Thank you for your energy, your passion, your leadership, your commitment. I know one thing I’m not gonna change, as a citizen of Toronto, I’m not gonna change my passion support for MLSE teams. So, thank you. We’re now gonna build on that with a fireside chat, and an audience Q&A. To lead the conversation, we’re joined by the incredible Michael Landsberg. Michael is one of Canada’s most recognizable sports journalists, known to millions as a creator, and longtime host of Off the Record. He’s spent decades interviewing the biggest names in sports, and he brings the kind of candour, energy, and sharp perspective that makes for a dynamic exchange. Since leaving TSN, Michael has devoted himself to trying to normalize mental health talk. He’s taken his story, and turned it into First Step, a program used by organizations across Canada to spark honest conversations. Please join me, in welcoming Michael Landsberg to the stage.
Michael Landsberg, Sports Journalist; Host, Off the Record
Thank you for the almost-as-kind-as-Keith Pelley words. Appreciate the introduction. You mentioned mental health. I’m gonna take 30 seconds now, and say that with 250 people in the room, there’s probably 50 of you who are battling a mental health issue. And there’s probably 240 of you who care about someone who is. Make it part of the conversation. My name is Michael Landsberg. I battle depression and anxiety. I have battled anxiety all my life. It’s crippled me, at times. Depression took me down, to the point where I understood suicide. But I’m not ashamed, I’m not embarrassed, and I’m not weak. Make it part of the conversation. [Applause] Yeah. Yeah. I didn’t mean any of that, but I figured it would get me over with the audience. Keith, you know, you kept talking about, you know, tough questions, tough questions. Do you want tough questions?
Keith Pelley
You ask the audience.
Michael Landsberg
Okay. Audience, you want sort of lame patronizing questions that sound like questions, but really are just statements? Do you want that? No. All right. True or false? You came to my house for dinner about a year ago.
Keith Pelley
True.
Michael Landsberg
And I was warned in advance that you’re a pescatarian. True or false?
Keith Pelley
True.
Michael Landsberg
Is it true or false that when I barbecued steak, you lost all control and went for the steak? Is that true?
Keith Pelley
Was it?
Michael Landsberg
Oh, God, you’re a legend in my house.
Keith Pelley
Really?
Michael Landsberg
Yeah. And you went for the apple pie with chocolate ice cream, which I thought was kind of twisted. But….
Keith Pelley
I don’t know if I….
Michael Landsberg
And by the way, question, on that fine introduction, I was mentioned as the creator of Off the Record.
Keith Pelley
Yes, yes.
Michael Landsberg
That’s not true, though.
Keith Pelley
That’s correct.
Michael Landsberg
It was you. He whispered, “That’s correct. That’s correct. I did it, Michael, it was all me.”
Keith Pelley
No, it wasn’t.
Michael Landsberg
But I’m very loyal to Keith, Keith’s my buddy. I love him because we have history together, we have great history together, and because he gave me two of the best opportunities in my life. One was Off the Record, and the other one was the Olympics. And no one, nobody else in your position would have given me the Olympics. A polarizing guy, who some like, some don’t. So, in front of everyone, I love you, man.
Keith Pelley
Okay.
Michael Landsberg
Okay. So…
Keith Pelley
Geez.
Michael Landsberg
…what’s the goal?
Keith Pelley
I think, I think the goal is to, to win championships. I think you have to look at—the way that I look at the role is, and the way that I look at everybody’s role, is you have to have a definition of success. So, what is that definition of success? And if you start to look at it—and I’ll break it down in terms of a head coach. So, what’s the definition of success for a head coach? Number one, it’s wins and losses, right? That’s it. Wins and losses. Second, on a head coach, is how do they deal with the media? Three, is how do they protect the brand and protect ownership? And four, is they ensure that they don’t do any criminal activity. So….
Michael Landsberg
Is that tough for you?
Keith Pelley
Yeah. But you can do two, three, and four. But if your wins and losses, then you have to have—in every single role, you have to have the definition of success. So, the definition of success for me is, we may be able to run this business, grow this business, be as efficient as we possibly can, and we get it to the stage where we’re a bigger link into the community and the whole works. But if we don’t win, and we don’t contend for championships on an annual basis, then I don’t expect to be here.
Michael Landsberg
Right.
Keith Pelley
And that is, that’s as honest as I can be.
Michael Landsberg
Right. But also you, I’m sure, are aware that if we turn the clock back on the day Shanahan got hired, and we were doing the same thing, but it was Shanahan, not you. Or general managers that have done that job. In fact, everyone since Punch Imlak, I’m sure has said, our goal is to win championships, right? People say it. But to date, no one has done it with the Maple Leafs. Why are you different?
Keith Pelley
Well. It’s not that I’m different in any such way. I just think it’s the people around you that can make it happen. So, I do believe that the triangle is critical, okay? And when I mean the triangle, the triangle is the general manager, the head coach, and either ownership or myself. And that is, that that group has the right double C, and the right double C is chemistry and culture. And that makes up for many, many, you’re seeing that right now with the Blue Jays. It’s interesting, if you looked at the lineup last night for the Toronto Blue Jays, and you had looked back five or six months ago, would you say that lineup would be doing what the lineup is doing, right?
Michael Landsberg
Nope.
Keith Pelley
So, at the end, so what’s the difference? Players are playing well, they feel comfortable, they’re in a good shape, because the chemistry and culture is really well, is really good. And I’m not saying it was bad in the past, but sometimes you need change. And obviously, for the Leafs, we’ve made major change this year with Mitch Marner leaving. And you know, that whole created, media creation of the core four. But at the end of the day….
Michael Landsberg
Wait a second. How was that media creation?
Keith Pelley
Well. I think it is, Michael. I think it was created either—well, I wasn’t here. But either via social or media, but it wasn’t something that was created by the Leafs. There was no way that the Leafs would ever have created a strategy around four players, because that alienates all the other players around you. So, the actual absence of Mitch Marner this year—not that Mitch Marner’s not a gifted, talented player, but it changes the culture. So, now you no longer have the core four. Now, you have an opportunity to showcase all of the players, right? And that’s, it’s a team, right? You learned last year that you’re not gonna win—or the last couple of years—you’re not gonna win with two good lines, right? You need great defense, you need great goaltending, but you need three or four good lines. But you need that chemistry and culture where everybody can step up, and everybody believes they can. But if you think that they are only gonna, it’s only gonna rely on the core four, that makes it difficult. I don’t know. Does that make sense to you?
Michael Landsberg
Oh, it made perfect sense. I mean, I still disagree with the, you know, like the media created that. Kyle Dubas created that, when he gave four players on the roster substantially more money than anyone else.
Keith Pelley
Well. I can’t comment on what transpired before I got there. But what I can say is that I don’t think Kyle ever came out and said, “We got a core four now.” That’s all I’m saying.
Michael Landsberg
No, he never said that, for sure. For sure. But…
Keith Pelley
The media created….
Michael Landsberg
…he said that with his actions. But that doesn’t matter, that’s the past. And I’m trying to be objective, and I love the idea of talking about the culture. I love the, I think the Jays are a great example, and I hadn’t thought about that. But you know, you go through their roster, too, and you’re going, “Who is that?”
Keith Pelley
Yeah, but what happens is….
Michael Landsberg
Hold on. I like to use this one phrase all the time. So, “the whole is greater than the sum of its parts.” That’s the way it is with the Blue Jays.
Keith Pelley
I think that’s, I think that’s fair. If you look at last year, you know, in Florida, you know, or you look at any championship team, they can’t win it with one player, right?
Michael Landsberg
No. I mean Florida’s genius….
Keith Pelley
They can’t. Right?
Michael Landsberg
…is that they found a way to get great players without giving up the cost, or even draft choice to get those players. They just somehow pulled off magic. Their GM did a great job, and they’re good.
Keith Pelley
But they did, but the way that they came in, and the way Brad Marchand came in…
Michael Landsberg
Yep.
Keith Pelley
…and enhanced the culture, and enhanced that believability of winning, and that’s what you need. Like, you see it with the Leafs, and you see it with Craig Berube, and you see what we have done in the off season. We’ve made a strategic change, after we had the opportunity. And you can take a look at the Mitch Marner position, and you can look at it as, “Oh my goodness, we have to replace his points.” That’s one way you can do it. Or how are you gonna ever replace that skill? Or you can look at it and say, “Ah, this is an opportunity.” And are we going to, do we need to win the Atlantic Division, or do we need to be a better playoff team? And do we need to strengthen our back end?
Michael Landsberg
Right.
Keith Pelley
We’ll replace the points with Mitch Marner. And at the end, the number one thing from any team is not to chase it. Is have your strategy, have your ethos, don’t let social, don’t let media, don’t let them dictate how you’re gonna operate the business.
Michael Landsberg
So, Brendan Shanahan, obviously, is gone. Bill Manning, who was the president of the Argos and TFC, is gone. And Masai Ujiri is gone, as well. And you haven’t hired presidents to replace them. You’re sticking your, you know, your head out there, because people are gonna look at you and say, you know, like, “You’re all we got to look at,” and say, “I don’t like the way this happened.” Are you willing to accept that?
Keith Pelley
Well, I would answer that question two ways. First of all, I have no problem accepting responsibility. And I think one of my definitions of success is the relentless pursuit of championships. And if you’re not able to get to that level, then I, I…
Michael Landsberg
Yep.
Keith Pelley
…I accept that, I accept that. However, in terms of the president’s roles, this is a different organization…
Michael Landsberg
M’hm (affirmative).
Keith Pelley
…in terms of, we are not one specific team with, with one individual owner, right? We are a collection of assets with multiple teams. And I think the teams over the—and this isn’t a criticism in any such way—I think the teams operated so much in silos with verticals, as opposed to any horizontal integration. And we are so large in MLSE that you, you have a centre of excellence in marketing, a centre of excellence in ticketing, a centre of excellence in communication. So, the need for that president’s role that some of the other teams that are individual-owned clubs that only have one team might be, we might not need that role, if you have a general manager with myself, and more importantly, my centres of excellence, and a robust executive team. So, it’s not just about putting the responsibility on me. But there is no question that I take full responsibility [Indiscernible].
Michael Landsberg
So, you’re fully ready for the—if you don’t have the results you want in the playoffs next year, you’re fully ready for the news conference, and Steve Simmons asking you, you know, like “Keith, you’ve gotten rid of a lot of people, is it time to get rid of you?” or something like that?
Keith Pelley
Well, Steve, I’m going to his place for dinner next week. I told him I’m a pescatarian.
Michael Landsberg
Yeah. Right. Which is another word for “steak.” Anyway…
Keith Pelley
I’ll answer the question at that particular time.
Michael Landsberg
…I get it. Okay. Excellent. NBA. How do you, how do the Raptors become great? You play at such a disadvantage, with all the American teams—unless you disagree with me, that typically Americans don’t want to come here, like the desirable free agents, the ones that can, that you can add to your team to make an appreciable difference, don’t see Toronto the same way they see the 31 American teams.
Keith Pelley
Okay. Well, that is, I would say that right now—and we recently did a, did a deal with the Buffalo Bills. And the conversation that I had with their owner, and their executive vice president and chief operating officer is, everybody wants to come to play in the NFL with the Buffalo Bills. But nobody wants to come, despite how big the sport is, to play for the Buffalo Sabres. And I said, what’s the difference? And the difference is culture. And the difference is the culture of winning. And the difference is the way that you actually present that opportunity. I think, under the tutelage of Bobby Webster, I think that the Raptors can attract that. I think we’re in the midst of a rebuild. Brendan Ingram is thrilled to be here. Scotty Barnes doesn’t wanna be anywhere else. I think, during free agency, we had an opportunity to bring a couple of high-profile players here, but it wasn’t at the right time in the rebuild. That comes right back to not chasing it, and staying with your actual strategy. So, I think that would be, I think that would be an excuse. I think you had Kawhi Leonard come here when the time was right, I think. I think—and this is something that Edward has said, this is something that Tony has said. When you’re at the time—because the NBA has a luxury tax; it’s not a hard cap like the NHL—when you’re at the time where you want, you think you can contend and get pushed over the envelope, we will provide you the resources. And we will be ready. And do I think somebody will come? Yes. But it is, the onus is on us to be more like the Buffalo Bills, and less like the Buffalo Sabres.
Michael Landsberg
You mentioned Kawhi. He didn’t resign in Toronto; he signed with the Clippers. Do they owe you compensation for, for tampering?
Keith Pelley
I, I have no idea. I, I wasn’t…
Michael Landsberg
Yeah. That’s when you go like this to me.
Keith Pelley
…I wasn’t here when…
Michael Landsberg
Keith, that’s when you go like this.
Keith Pelley
…I wasn’t here with the Kawhi Leonard situation, and I will leave that…
Michael Landsberg
Okay.
Keith Pelley
…for another time. That’s two questions we got for another time.
Michael Landsberg
Excellent. You know what?
Keith Pelley
One with Steve Simmons and one with you.
Michael Landsberg
Let me see if I can ask you a couple other ones that you’re afraid to answer. World Cup.
Keith Pelley
Yeah.
Michael Landsberg
Are you looking to be the president of FIFA next? Is that what your whole game plan is? Because we all know you only have three-and-a-half years left here. Because typically, on average, after all of your jobs—I did the math, you average five years in a job. So, I’m thinking you’re a guy that thinks ahead. No, seriously. World Cup.
Keith Pelley
Yeah.
Michael Landsberg
I would imagine that your time in Europe had gave you sort of a better idea of just how massive it is.
Keith Pelley
Yeah. I think World Cup, the six games here will be like six Super Bowls. I don’t, still—and the mayor knows this—I still don’t think everyone understands what is really gonna happen. Hopefully, we all get engaged, and the excitement builds after December 5th, when the announcement comes out of who we play. I believe that this is an opportunity for the city to once again re-energize as, itself as one of the greatest cities in the world. I think we’ve lost our way a little bit, and I, and I believe the World Cup provides that opportunity. But it is going to be absolutely massive.
Michael Landsberg
Yeah. That was my token softball question, just so you know.
Keith Pelley
Oh, okay.
Michael Landsberg
Okay. Just so you know. You mentioned—I’m not sure if you mentioned it, but you and I were talking about it—excuse me, Brad Marchand signed with the Florida Panthers yesterday. He commented that the reason why he and several other players re-signed with Florida is because Florida’s a tax-free state from, there’s no state tax in Florida. A lot of Leaf fans, you know, realize that you’re at a disadvantage, if you’re a Canadian team, if you’re an Ontario team, because of the taxes. Would you push Bettman, to try to even it up?
Keith Pelley
Well. I would answer that question similar to the way that I answered the question with free agency. You know, Brad Marchand said what he said. That’s an excuse. We’re gonna focus on right now, utilizing the advantages that we have as the Toronto Maple Leafs. When you look at John Tavares, John Tavares signed here for significantly less than he would have anywhere else. And he could have gotten more money, he could have gotten the Brad Marchand money, and he could have gone somewhere and had a better tax break. But he came here because he loves the culture, he’s seen it, the way that we treat the players, and more importantly, he’s a Toronto kid that knows that if we win a championship, he wants to be part of it. And he will have a legacy that will be etched in perpetuity as one of the great Toronto Maple Leafs, forever. And so, I think you have to, I think there’s a lot of players. And if Brad—Brad is 37 years old. And sure, we would have loved to have had Brad Marchand in the trade deadline last year, but we didn’t have the cap room for it, which is another strategy moving forward, in terms of ensuring that you have enough cap room. But Brad is a great player, and he can say that. But I’m not running to the NHL office in the next day or two and saying, “Hey, Gary.” You know, Gary knows that. He would have heard Brad. But at the end, Edmonton Oilers made the Stanley Cup final the last two years. They don’t have the same tax relief as Florida. So, we have to be, we can’t make excuses. We have so many advantages here, as the Toronto Maple Leafs.
Michael Landsberg
You know, obviously, you know in three years, the cap’s going up to $120 million. There’ll be a lot of teams in the league who don’t come close to paying to the cap, which I would imagine you’re willing to commit that the Maple Leafs will be at the cap, regardless of what the cap is. And that could be, for the long-term health of this team, a good thing.
Keith Pelley
Well. It’s going up from 88 to 95 to 103 to 113. So….
Michael Landsberg
Did you say that to correct me?
Keith Pelley
Subtly.
Michael Landsberg
Okay. Okay. Well, you know what? I think you’re popcorn’s stale. I’m serious. I love popcorn. It’s like, oh my God, do they make one batch at the beginning of the year, and then serve it all year? Oh God. And those crappy dish towels….
Keith Pelley
Okay, okay, okay….
Michael Landsberg
Hold on, the crappy dish towels you give out in the playoffs. Give us t-shirts. Okay. Go ahead.
Keith Pelley
Okay. So, the competitive balance that the National Hockey League has is phenomenal. And whether the salary cap, it increasing over the next four years, whether some teams are not able to spend to it, I think would be, I think it would be harmful to the National Hockey League. Because the, the magic behind it right now is, it’s like the National Football League. Every single team has a hard cap, and there’s, you can’t go over it. Different than the Premier League, different than Major League Baseball, different than Major League Soccer, different than the NBA. The NFL and the NHL have the most competitive balance because they have hard caps…
Michael Landsberg
M’hm (affirmative).
Keith Pelley
…right? And I’m a proponent of that. And if you get the cap to 113, and teams can’t get to it, in the next collective bargaining agreement, I would hope that the National Hockey League would address that.
Michael Landsberg
Great. You know, one of the things I—all kidding aside, watching you after the Leafs season ended, coming forward and putting your face out there, and showing humility that fans can relate to, I kind of feel like that was hugely missing over the years. A certain arrogance, like, yeah, we wanted to win, but. But I felt like you really cared, and you were hurt by the loss, and you understand that your fans love this team in a way that—totally out of proportion to what’s logical, right? Like, I love this team. I was brought up on the Leafs and the Argos. So, I just thought that, well, you proved a lot at that point.
Keith Pelley
I, oh, thank you. But I think every team is in an evolution stage. And the Leafs now with, if you take a look at your defense, they’re 26, 28, 31, 31, 33, and 34. So, that’s the age of your defense. When you look at your stars, this is the time. This is, the next three years of the time, it’s go time. So, as I said, I said that Rogers would provide the actual financial resources for the National Basketball Association to go over the salary cap. They don’t have to need those resources for the National Hockey League because of the hard cap. It’s, the onus is on us. And so, it’s go time now. And I think Brad and Craig, like I said at the beginning, can have courageous conversations with each other. The collaboration that they have with all of their coaches is phenomenal. And all that leads to chemistry and culture. And if you see that too, right now, down at Summer League with the Raptors under Bobby, you see it under Darko, you see it. I was there last week. And all the sophomore players and the rookie players came out and played a trivia game with 80 of our staff. It was phenomenal, right? It’s….
Michael Landsberg
That’s culture, right?
Keith Pelley
Yeah. We’ve created this one MLSE tonight. The Raptors are down at the Bills games. Like, down at the Bills game, where the Leafs are asking if they can go to the Jays. It’s fantastic. But that’s the opportunity that we have, creating that. And I’d love to sit and talk about Fan Access—and it’s not a loyalty program, it’s an access program for everyone—but we’ve run out of time. And at the same time, our content strategy. Because it’s something that, if you cross-collaborate between the teams, the power of MLSE is enormous. And it’s, and the opportunity to make a difference in this community is really exciting.
Michael Landsberg
This is fun.
Keith Pelley
We’re out?
Michael Landsberg
Yeah. We’re out. Goodbye. Oh, it didn’t turn on. I couldn’t get any questions. It was supposed to come from the audience. Okay. We got ‘em. But I thought mine were more important.
Keith Pelley
Oh, are we continuing, or is this over?
Michael Landsberg
Oh, you just showed me up, didn’t you?
Keith Pelley
Yeah. Do you have a question?
QUESTION & ANSWER
Michael Landsberg
Oh. Apparently, we have time. Hi Keith, based on your experience, what will be the toughest challenge for Toronto and MLSE for next—you have that to choose from, also. It’s Sunday, September 28th at Bethpage. The score is tied—okay, I get it. The score is tied. You are spending, sending out the last minute….
Keith Pelley
Matchups.
Michael Landsberg
I could put my glasses on…
Keith Pelley
Yeah.
Michael Landsberg
…but that would be much less challenging.
Keith Pelley
Yeah.
Michael Landsberg
I can’t—it won’t scroll up. So….
Keith Pelley
Your strategy with Ryder Cup is, usually, you put your players—depending upon the score, at the time—you put out your best players. Because what happens is the leaderboard’s all over the golf course, and all of the golfers are watching, and it becomes momentum. So, you want, you want—I’d always put Rory, I’d put Rory out first, that would be just me.
Michael Landsberg
Have you golfed with Rory? Like, played?
Keith Pelley
Yeah.
Michael Landsberg
Yeah.
Keith Pelley
Yeah.
Michael Landsberg
Well, you’re asking me like, yeah, like you idiot, of course I have. I was the commissioner, oh.
Keith Pelley
No, yes. I’ve played with Rory. But yeah, I’d put Rory, I’d put Rory out first, and then I’d have somebody with experience at the back end, in case it came down to the final. But it all really depends on what the score was.
Michael Landsberg
Does chemistry count, Ryder Cup?
Keith Pelley
It’s amazing. It’s unbelievable. I cannot tell you how much we spent on chemistry.
Michael Landsberg
Who do you cheer for this time?
Keith Pelley
You’re up.
Michael Landsberg
You’re up, you fool. So, I guess, we have to wrap it up.
Keith Pelley
Yeah.
Michael Landsberg
And that’s sad, because this is fun. Because I think everyone hangs on a lot of your words, because a lot of us have so much hope in the teams that you represent, and that you’re working for. And I don’t know, when I heard you got the job, it was great call by MLSE.
Keith Pelley
Well, thank you.
Michael Landsberg
That wasn’t a question.
Keith Pelley
I think, well, I appreciate that—I said thank you. And I’ll say that really, it comes down to putting the right people in the right place, having people that support you in every such way. We’ve got great teams. We’ve got great collaboration. It’s, and I’m excited about where we’re going, and the opportunity that lies ahead. But you know, it’s a plan, unless you execute it. You gotta execute it flawlessly. And, you know, 100%, you know…
Michael Landsberg
Thanks, man.
Keith Pelley
…100%.
Michael Landsberg
Keith Pelley.
Saurabh Popat
Wow, that was incredible. Thank you, both Michael and Keith, for your candour, and a very lively, insightful conversation. Keith: culture, chemistry…
Keith Pelley
Collaboration.
Saurabh Popat
…collaboration, Canada.
Keith Pelley
What was the third one?
Saurabh Popat
Canada.
Keith Pelley
Canada, yeah. Sure.
Saurabh Popat
Right? Right. So, I mean, we’ve got many C’s, and that makes up our great country here. So, thank you so much, to both of you. You can take your seats, and we’ll…
Michael Landsberg
Do we get up now?
Keith Pelley
Are we getting up now?
Saurabh Popat
…be here in a few minutes. Well, that was exactly the kind of dialogue—yeah, please. That was exactly the kind of dialogue we aim to spark here, at the Empire Club. Where ideas, leadership, and perspectives come together on stage. I want to thank all of you, in the room and online, for joining us today. Your presence and questions make these events what they are. Before we’d like to close, I’d like to recognize our Lead Sponsor for today’s event, Uber. Uber has become a part of a daily life for millions of Canadians, including myself. And when FIFA World Cup 2026 comes to Toronto, fans from around the world will be counting on Uber to get them to the stadiums, to the celebrations, and home safely, at the end of the night. They’re also a great partner to have in this important event. To share a few words, please welcome Lola Kassim, Senior Director, General Manager at Uber Canada. Lola.
Note of Appreciation by Lola Kassim, Senior Director, General Manager, Uber Eats Canada
Well, thank you, Keith, for that, those thoughtful remarks, and that candid and insightful discussion. And thank you, Michael, for guiding us through the conversation so well. We loved the hard questions, and we really loved the very, very real answers. The courage to change in pursuit of championships is a message that clearly resonates far beyond the sports world. It speaks to leadership, and the pursuit of excellence in every field.
And there were three themes that really resonated for me from this afternoon. The first is that leadership requires courage, the courage to set a vision, and stay true to that vision even when times are uncertain. And we need that courage because change is hard, which brings me to the second theme that Keith touched on. Adaptability is the real competitive edge. The ability to pivot, to embrace change, and never stand still. We all need to be talking to our businesses, to our organizations every day about how we evolve to stay ahead, and make sure that we don’t fall behind. And the third theme is that championships are never won alone. They’re won by strong teams, supported by vibrant communities.
At Uber and Uber Eats, these lessons resonate deeply. We’ve grown our platform by staying bold, adapting quickly, and also by keeping customers at the heart of everything that we do. And that’s why our partnership with MLSE is so important. Together, we’re creating moments both on and off of the ice, the court, and the field, whether it’s helping residents and visitors get to and from the game safely, or bringing the flavours of our local restaurants to fans at home, the work we do together goes so much further than just, you know, providing transportation and meals. It’s really about making it easier for fans to connect with the teams, the traditions, and the communities that they love, creating that sense of belonging.
So again, on behalf of Uber Canada, and everyone here today, thank you, Keith, for sharing your vision. Here’s to courage, here’s to change, and for Domenic and the family in Halliburton, a Leafs parade down Bay Street in 2026. Thank you.
Concluding Remarks by Saurabh Popat
Thank you so much, Lola. You have my five-star Uber rating for that. Thank you again to our awesome panellists, sponsors, and, of course, to all of you for joining us. I’d also like to recognize the students and young leaders in the room from York University and Humber Polytechnic. Thank you all for being a part of our community, and for helping advance public dialogue on topics that matter.
To stay connected, please subscribe to our newsletter by scanning the QR code on your tables, and we also have an exciting membership program, so please see our staff at the registration desk for more information.
Before we close, I also hope you will join us for two upcoming exciting events. On October the 1st, we’ll welcome the Honourable Gretchen Whitmer from the, the governor of the great state of Michigan, for “The Canada-Michigan Relationship.” This conversation, moderated by Steve Paikin, will offer an invaluable look at how Canada and Michigan can build an even stronger economic and environmental partnership.
On October 14th, we’ll welcome the Honourable Doug Ford, Premier of Ontario, for his keynote, “Delivering Our Plan to Protect Ontario.” On the eve of the Legislature’s recent return, this event chat, moderated by Ben Mulroney, will outline how Ontario plans to safeguard the economy, while advancing growth and competitiveness. Tickets for both of these events are on sale now, and I hope to see many of you there.
As always, and as a club of record, all Empire Club events are available to watch and listen to on our website. The recording of today’s event will be available shortly. Thank you all for being a part of this important conversation. Enjoy the networking reception, and we look forward to seeing you at future events. This event is now adjourned.
