Ted Leonsis could add a huge piece to his Washington, D.C., sports empire.
The owner of the Washington Wizards, Capitals, and Mystics is reportedly interested in purchasing the Washington Nationals, who are considering a sale.
Leonsis owns those teams, their home venue Capital One Arena, and a handful of other properties through Monumental Sports & Entertainment, which he founded and leads as CEO and chair.
Leonsis would reportedly team up with Carlyle Group co-founder David Rubenstein, who has a net worth of $4.1 billion, per Forbes. Leonsis has a net worth of $1.6 billion.
- The Nationals were purchased by the Lerner family for $450 million in 2006. Ted Lerner, 96, handed management of the team over to his son Mark in 2018.
- The team is valued at $2 billion by Forbes, 12th in MLB.
- Allen & Company, which handled the 2020 sale of the New York Mets for $2.4 billion, is conducting an exploratory process for the Nationals, who have not committed to a sale.
Sign Now, Pay Later
The Nationals have used deferred payments in major contracts and owe over $230 million to Max Scherzer, who signed with the New York Mets last offseason, and Stephen Strasburg, who is currently recovering from surgery.
The team also holds around $500 million in debt.