• Loading stock data...
Friday, October 11, 2024
The Best Employers in Sports survey is now open! Take the survey

Michael B. Kim Interested in Buying Washington Nationals

  • Michael B. Kim is reportedly among the prospective buyers for the Washington Nationals.
  • Kim founded MBK Partners, which has more than $25 billion in assets under management.
Washington-Nationals
Brad Mills-USA TODAY Sports

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.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

New York’s Baseball Resurgence Sets Stage for LCS Drama

The high-spending Mets and Yankees now represent half of MLB’s final four.

‘We’re Ready for FBS’: Sacramento State Is Serious About the Jump

How the Hornets got themselves on the short list of potential call-ups.

College Football’s Most-Hyped Weekend: Networks Set to Cash In

NBC gets No. 2 Ohio State at No. 3 Oregon, while ABC has No. 9 Ole Miss at No. 13 LSU.

Twins Hit the Market: Pohlad Family Looks to End Four-Decade Ownership

The MLB club’s ownership is among the longest-tenured in the league.
podcast thumbnail mobile
Front Office Sports Today

Inside CFB’s Biggest Day of the Year

0:00

Featured Today

Duante' Abercrombie News Ch.4 interview

Tennessee State’s Ambitious Plan to Launch an HBCU Hockey Program

TSU has big plans, but the university is facing an existential dilemma.
October 8, 2024

Ryan Smith Sees Salt Lake City As Next Vegas-Like Sports Town

Utah Hockey Club’s owner says all the pieces are falling into place.
October 8, 2024

How the WWE’s Farm Circuit Became a Primetime Draw

NXT produces generational talent—and it occupies a new prime-time network slot.
A DraftKings sign
October 7, 2024

A DraftKings Exec Left for Fanatics. Then the Bitter Legal Battle Began

Mike Hermalyn has been sidelined at Fanatics for nine months now.

New York First: Yankees and MSG Go All In on Live Sports Streaming Pact

The YES Network and MSG Networks will offer their content in a combined streaming app.
August 26, 2024

NFL Ready to Break New Ground With Historic Private Equity Investment

The league is poised to make official a long-awaited embrace of private equity.
August 28, 2024

ESPN’s Pitaro: RSN Turmoil An Opportunity to Expand Local Game Coverage

ESPN chairman Jimmy Pitaro highlights a fast-developing regional content strategy.
Sponsored

Rivalries Reign Across Red River and the Beltway, London Calling

According to data from TickPick, renewed battles between bitter foes are spiking ticket prices.
August 19, 2024

NFL Private Equity Could Be Approved Before Season

No minority franchise stake sales have been publicly announced this year.
August 14, 2024

Rob Manfred’s Decade As MLB Commissioner, and What Comes Next

Manfred has presided over a period of change in MLB.
August 8, 2024

Mets Business President: MLB Has Not Marketed Its Stars Enough

Scott Havens says there are only two “faces of baseball.”
April 5, 2024

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

The Mat Ishbia–Dan Gilbert feud has exploded into view this week.