MLSE announced on Aug. 21, 2014, that Leiweke would leave the company before June 30 to pursue new opportunities.
"We've made remarkable progress with Tim at the helm, and we are pleased that he has agreed to continue as CEO on an interim basis," said MLSE chairman Larry Tanenbaum in a statement on Friday.
The corporation's major assets include the NHL's Toronto Maple Leafs, the NBA's Toronto Raptors and Major League Soccer's Toronto FC.
"It's a privilege to work with the incredible MLSE team, and it's a very positive time to be at the company," said Leiweke. "We've accomplished great things together. I'm happy to be here as long as I'm needed while the organization works to find the right leader to carry the momentum forward."
Tanenbaum says that because of MLSE's expanding breadth of sports leadership talent, the search for a new CEO is focusing on finding a seasoned business executive.
"As we've continued to amass an unparalleled array of sports leaders at both the executive and team level, the Board of Directors agreed to focus our CEO search on the appointment of a strategic business leader able to enhance MLSE's unique collection of world-class assets," said Mr. Tanenbaum.