• Loading stock data...
Saturday, June 22, 2024

Leonsis Closer to Adding Nationals to Trove of Teams

  • Washington Capitals, Wizards, and Mystics owner Ted Leonsis could soon buy the Nationals.
  • Lawsuits with the Baltimore Orioles complicate the deal.
Ted-Leonsis
Geoff Burke-USA TODAY Sports

A leading contender has emerged to buy the Washington Nationals, potentially setting up a D.C. sports empire.

Ted Leonsis, owner of the Washington Capitals, Wizards, and Mystics, tops the list, per The Athletic.

  • Leonsis is working with Carlyle Group co-founder David Rubenstein.
  • Leonsis’ Monumental Sports & Entertainment also has stakes in the Capitals and Wizards’ Capital One Arena, NBA G-League team Capital City Go-Go, regional sports network NBC Sports Washington, and multiple esports teams.
  • The Lerner family, which purchased the Nationals for $450 million in 2006, said in April that they hired investment back Allen & Company to explore a sale. Forbes valued the team at $2 billion in March, 12th in Major League Baseball.

In addition to Leonsis and Rubenstein, former CEO of three MLB teams Larry Lucchino, Freedom Mortgage CEO Stanley Middleman, and co-founder of private equity firm MBK Partners Michael B. Kim have shown interest in the Nationals.

Washington-Nationals

Leonsis Among 28 Parties Eyeing Nationals Bid

A reported 28 parties have expressed interest in purchasing the Washington Nationals.…
June 13, 2022

The MASN Problem

One obstacle to a sale is that the Nationals do not currently have the same ability to profit from their regional sports network, MASN, because the Baltimore Orioles hold a 67% stake.

The unique arrangement was established as compensation for the Orioles when the Nationals moved into their region from Montreal in 2005. 

The Nationals are tangled in multiple lawsuits around MASN, including one in which a judge has ruled that the team is owed around $100 million in rights fees for broadcasts between 2012 and 2017. The Orioles are appealing that ruling.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Everton FC owner Farhad Moshiri stands on the pitch at Goodison Park Stadium.

Another U.S. Takeover? Houston-Based Group in Talks With Everton

The English soccer club continues to look for a new owner.

Clark vs. Reese: Priciest WNBA Game Set for Record-Breaking Viewership

Ticket pricing has already set a league record, while viewership expectations are lofty.

MLB’s Rickwood Game Plans Change Significantly After Passing of Mays

The special-event game at the historic Negro League park follows the death of the iconic Willie Mays.
podcast thumbnail mobile
Front Office Sports Today

How Women’s Sports Media is Charting Its Own Path

0:00

Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.

‘Baseless Corporate Conspiracy’: Hedge Fund Heats Up Feud Between NBA Owners

The Mat Ishbia–Dan Gilbert feud has exploded into view this week.
March 14, 2024

Chiefs’ President Threatens Team Could Leave Kansas City If Voters Don’t Give It Money

The Hunt family’s cheapness continues to show after Super Bowl title.
March 25, 2024

Tony Clark Appears to Be Winning Fight Over Baseball’s Union

Some players had recently called for the removal of Clark’s top negotiator.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
IRS
February 15, 2024

IRS to Start Auditing Sports Owners

Audit increase comes with the agency’s increased enforcement budget.
Theo Epstein
February 2, 2024

Theo Epstein Returns Home, Joins Fenway Sports Group

The 50-year-old will serve as a senior adviser to the ownership group.
January 24, 2024

Former Tottenham Owner Pleads Guilty to Insider Trading Charges

Tottenham is worth $2.8 billion and owned by Lewis’s family trust.
Mark Cuban and Dallas Mavericks.
November 28, 2023

Adelson Family Freed Up $2B To Reportedly Buy Stake In Dallas Mavericks

Miriam Adelson is selling a portion of her Las Vegas Sands Corp stock.