The Globe and Mail reports in its Thursday edition that BCE's balance sheet was on the brink, forcing the telco's chief executive officer, Mirko Bibic, to unload its stake in Maple Leaf Sports & Entertainment to Rogers. The Globe's Tim Kiladze writes that BCE is getting $4.7-billion for its 37.5-per-cent share of MLSE, which owns the Toronto Maple Leafs and Raptors, among other sports teams, but the sale is something that used to be considered off limits by management. However, with BCE's financials in such disarray, resulting in debt-rating downgrades from two different agencies in the past three weeks, Mr. Bibic had to act. Under pressure to pay down $39-billion in debt, and with a stock price that had fallen back to 2014 levels, he was forced to sell the prized asset in order to generate some much-needed cash. The financial woes that got him here mounted rather quickly. Only two years ago, BCE's shares traded at a record high. Then central banks started raising interest rates in March, 2022, and that put pressure on dividend stocks like BCE. As BCE's stock fell, the sustainability of its balance sheet came into question. BCE still continues to pay a dividend that amounts to more than its free cash flow.