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MLSE CEO Tim Leiweke is set to leave the company to pursue "new opportunties."

Maple Leaf Sports & Entertainment has confirmed reports that president and CEO Tim Leiweke will be leaving the company by June 30, 2015. MLSE is the parent company of Toronto FC in Major League Soccer, along with the NHL's Toronto Maple Leafs and Toronto Raptors of the NBA.

“It’s an honor to lead MLSE, a world-class organization in a city and a country so passionate about sports,” Leiweke said in a statement Thursday morning. “But with new opportunities on the horizon, it’s time for me to begin the transition from sports and entertainment executive to entrepreneur.”

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Leiweke, 57, joined MLSE last year after a long tenure with the Anschutz Entertainment Group in Los Angeles. The St. Louis native was instrumental in the offseason expenditures by Toronto FC that saw the team bring in designated players Jermain Defoe, Michael Bradley, and Gilberto.

“Under Tim’s leadership, MLSE has made a number of key moves to strengthen our organization on the path to championship success,” MLSE chairman Larry Tanenbaum said. “We look forward to working closely with Tim to build on this foundation and further accelerate our momentum as we seek a new leader for MLSE.”

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