Homer Simpson
Superstar
Toronto’s demographics, especially by age will make what I said inevitable. Basketball is the most popular sport among immigrants and their children and youth participation in hockey is not on an encouraging trajectory. This is even more the case in terms of demographics.
Hockey will remain the most popular sport in Canada as a whole, but in Toronto in particular the Leafs are in a serious battle with the Raptors in the near future and they know it it too:
Leiwenke said it in 2014, and without having the ability to add in a Finals appearance and possibly retaining the best player in the league. You can’t claim bias here because he was a chairman for both teams
Toronto Raptors more popular than Maple Leafs? Not as far-fetched as it sounds | The Star
Don't get me wrong. Hockey definitely has a participation (and diversity) problem and has an uptight culture. There are just too many sacrifices that need to be made (or you have to have money) to play it seriously.
But in terms of spectating I just can't see it. The Leafs were a bigger joke than the Raptors were and lost out on a generation of fans by being so bad for 10 years. I grew up in a basketball neighborhood with immigrant children in that lost era but there were still a lot of hockey fans. Not necessarily Leaf fans though. Keep in mind the team has only been "good" again for 2 years now maybe and still hasn't won a round since 2004.
I just think the city is easily big enough for both teams to be more popular than most other city's teams.