Could Promotion-Relegation work in College Football?
The owners of the Washington Nationals announced their intentions to explore a sale of the team in April, and Michael B. Kim is reportedly among the prospective buyers.
There is no sale price, though Forbes’ latest valuation of the team was $2 billion — 12th in MLB.
Kim founded MBK Partners, which has more than $25 billion in assets under management, in 2005. Forbes lists Kim as South Korea’s third-richest person with a net worth of $7.7 billion.
- Kim met with team officials in June at Nationals Park.
- One other group has already met with team officials, and a third has plans to do so.
- None of the groups have Washington ties, according to The Washington Post.
The Lerner family purchased the Nationals for $450 million in 2006, beating out seven other groups. Under their ownership, the team has won four National League East titles and the 2019 World Series.
“This is an exploratory process, so there is no set timetable or expectation of a specific outcome,” Mark Lerner said. The Washington Post reports that talks will likely end in a sale.
Bank’s Business
Allen & Company, the New York investment bank running the process, managed the sale of the New York Nets, the NFL’s Carolina Panthers, and the record-breaking $4.65 billion sale of the Denver Broncos.
