TORONTO -- Rogers Communications agreed Friday to purchase controlling interest in the Toronto Blue Jays, raising hopes that a new owner can rejuvenate a team that has fallen on hard times since winning the World Series in 1992 and 1993.

New owner, new money

Rogers Communications joins the growing group of Major League Baseball teams owned by television media interests (Angels, Braves, Cubs, Indians, Dodgers and Rangers). Blue Jays fans should be happy with the sale, as there should be much more spending to ensure winning. The Blue Jays spent the most in the majors on payroll during their championship years -- $49.4 million and $51.9 million in 1992 and 1993, respectively. But since then, the Jays have not topped those numbers -- starting this year as 22nd in the league in payroll. The reason for the greater commitment to the team's success will be simple. Rogers wants to use the Blue Jays for their TV and radio programming, and if the team doesn't contend, the ratings won't be good. The Blue Jays have reportedly lost a great deal of money in the past five years. According to the recent Blue Ribbon panel report, the Blue Jays lost $87.63 million from 1995-1999 -- second only to the Giants. -- Darren Rovell

The contract was signed at a news conference just after the closing bell of the New York Stock Exchange.

This is "an absolutely spectacular move for the city of Toronto, the Toronto Blue Jays and the game of baseball," said Paul Beeston, baseball's chief operating officer and the former president of Blue Jays.

Rogers agreed to purchase 80 percent of the team from Interbrew SA, a Belgian brewery, for $112 million (in U.S. dollars). Interbrew, which acquired the Blue Jays in 1995 when it purchased Labatt Brewing Co., would keep a 20 percent interest in the club.

The Canadian Imperial Bank of Commerce, a Blue Jay owner since the team began in 1977, would sell its 10 percent interest.

Paul Godfrey, the former Sun Media president, would become the chairman and chief executive officer of the Blue Jays if the sale is approved by from baseball owners, a process that usually takes six months to a year.

"We look forward to owning the Blue Jays and being part of this Canadian sports institution", said Ted Rogers, president and chief operating officer of Rogers Communication. "The Blue Jays have thrilled Canadians right across this country and we're proud to bring their ownership back to Canada."

Godfrey said he would like general manager Gord Ash, who has been criticized the last few years because the club hasn't made the postseason since 1993, to remain in the role he has held the past six seasons.

"Gord Ash is part of the future of this ballclub," Godfrey said. "I told him he's done a spectacular job. He's made some great trades."

Rogers is in position to join other communications companies, such as Time Warner Inc., News Corp. Tribune Co. and The Walt Disney Co. in owning sports teams.

"I'm tired of reading about everything happening south of the border," Rogers said. "It's time we had some creative ideas here."

For Rogers, the Blue Jays deal is a major strategic move by the company to acquire high-ratings content for its telecom and broadcasting pipelines, which include Canada's largest cable TV system, the country's biggest mobile phone company Rogers AT and T Wireless and radio and television stations.

A bigger deal by Rogers -- the multibillion-dollar purchase of Quebec's largest cable TV company, Videotron -- is stalled in a Quebec court, but fits into the company's long-term growth plan.

Rogers is also attempting to expand its existing 30 percent stake in the CTV Sportsnet channel from BCE Inc. and plans to broadcast Blue Jays games over the sports channel.

Ted Rogers, the Rogers Communication president and chief executive officer, said the company also wants to expand further in the sports industry. He said it was time Toronto had an NFL franchise and that he hoped to play a role in making that happen.