Could Promotion-Relegation work in College Football?
Ted Leonsis could add to his Washington sports empire — with what could be the biggest piece yet.
The founder, chairman, and CEO of Monumental Sports & Entertainment was granted access to the Washington Nationals’ financial data. The Lerner family, which owns the team, said they would explore a sale in April. Forbes valued the team at $2 billion in March — 12th in MLB.
Monumental already holds controlling stakes in the:
- Washington Wizards
- Washington Capitals
- Washington Mystics
- Capital City Go-Go (NBA G League)
- Wizards District Gaming (NBA 2K League)
Leonsis, of course, will face competition for the club. At least five other interested parties have met with Nats officials, including private equity billionaire Michael B. Kim and Freedom Mortgage founder Stanley Middleman.
Monumental Acquisition
On Tuesday, Monumental announced that it had agreed to acquire the media home of the Wizards and Capitals by purchasing Comcast’s stake in NBC Sports Washington.
On completion of the deal, Monumental will own all of the regional sports network, which in addition to the nation’s capital broadcasts in Maryland, Virginia, and parts of Pennsylvania. It purchased a 33% stake in NBCSW in 2016.
