Richard Peddie retiring

TORONTO -- Richard Peddie says he will retire as president and CEO of Maple Leaf Sports and Entertainment at the end of next year.

The 63-year-old Peddie joined MLSE in November 1996 and has helped to oversee a massive amount of growth.

During that time, MLSE acquired the Toronto Raptors, opened the Air Canada Centre, established the Toronto FC Major League Soccer team and expanded its business interests with a condo and entertainment development.

"Maple Leaf Sports and Entertainment is what it is today due in large measure to the great team that Richard Peddie has built," MLSE chairman Larry Tanenbaum said.

An executive search committee has been formed to identify Peddie's successor.